Payment fees

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

The rise of challenger banks has meant that this revenue stream is becoming increasingly squeezed.

The grocery giant reportedly has reversed its decision to bar Visa credit cards in its stores, demonstrating the limited effect of merchant bans in battling the payment networks.

House Republicans are pushing the CFPB to continue to allow banks and credit unions to estimate exchange rates and fees for money transfers.

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete.

Apple’s aggressive posture when it makes moves in retail and payments has drawn a lot of pushback and controversy, but its setback in the Supreme Court could be the most dire threat yet to the growth of Apple Pay.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

So far, 2019 has been characterized by a series of eye-catching strategic deals within the global payments ecosystem, with new players positioning themselves to rival Visa and Mastercard. The card networks giants have responded by pursuing a strategy to become less reliant on transactional fees.

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.

Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small- to midsize B2B payments sector heats up.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

The growth and dominant market share position of payment cards in U.K. retail sales is prompting a new pushback from retailers who are wary of rising network fees.

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”

Cash discounting, or informing customers that items in the store are priced less expensively if purchased with cash, does not have the legal barriers of straight surcharging, which is simply charging more for products to cover card fees.

When offered in a fair and transparent manner, DCC provides real value and benefit to both the cardholder and the merchant striving for new ways to remove friction and improve their customer service experience, writes Mark Horwedel, CEO of the Merchant Advisory Group.

DCC is popular with payment processors and merchants because it almost effortlessly boosts profits, gouging an often one-time consumer instinctively comfortable and receptive to paying in his familiar home currency, writes Eric Grover, a principal at Intrepid Venture.

In the wake of the Parkland, Fla. school shooting, a New York Times columnist has suggested the financial industry stop doing business with gun dealers. Here's what the leaders of five financial institutions – including one with a personal connection to Marjory Stoneman Douglas High School – had to say about the proposal.

American Express claims its rules allow it to better compete against other major card networks. The complaining states view anti-card steering rules as a way to block other networks from offering lower fees, thus resulting in retailers raising prices for consumers.