The Justice Department has already successfully intervened to break up Visa's deal to buy Plaid. Merchants welcome reports that it is looking at Visa's routing practices.

The Justice Department has already successfully intervened to break up Visa's deal to buy Plaid. Merchants welcome reports that it is looking at Visa's routing practices.

The decision is seen as a setback for the banking industry, which had been pushing for an extension, and a win for Democrats, who have argued that a pandemic is no time for banks to be shedding capital.

The scrutiny on installment lenders could prompt them to fine-tune their offerings and diversify into new markets.

The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on second-quarter dividends and buybacks, he says.

Technology safety assessor UL will test EMV specifications on consumer mobile devices as part of standards body EMVCo's early adopter program.

The State Department has added 14 Chinese lawmakers, including a member of the Communist Party’s ruling Politburo, to a blacklist under the Hong Kong Autonomy Act. Banks face sanctions if they do business with them.

By an overwhelming majority, the House approved a two-month extension of the Paycheck Protection Program, which still has almost $93 billion left to distribute.

After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis.

Visa and Mastercard are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic.

After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.

The Senate Banking Committee is questioning whether Goldman Sachs Group paid dividends at the expense of lending to businesses and households during the pandemic as lawmakers take a broad look at the support big banks offered clients to get through the economic slump.

The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability.

Until regulatory reforms are introduced, nonbanks won’t have direct access to Payments Canada's Real-Time Rail, a situation that risks stifling innovation.

In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.

The legislation would extend the Paycheck Protection Program for two months and give the Small Business Administration more time to remedy persistent system glitches that have delayed the processing of thousands of loan applications.

Sen. Dick Durbin, D-Ill., went after Visa and Mastercard during an antitrust hearing Thursday in Washington, suggesting the card brands have likely been looking for a way to increase fees and offset previous legal or regulatory pressure on their pricing structures.

The agency's new leadership, which has already unwound numerous actions from the prior administration, said the January 2020 guidance implementing criteria for punishing firms that mistreat customers was “inconsistent with the bureau’s duty to enforce Congress’s standard.”