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Amex Unlikely to Blink in Antitrust Talks with DOJ
Change is coming to the credit card industry following the government's recent antitrust victory against American Express, but the next few weeks could determine how deep the changes are — and who wins and loses.
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The Bank of England will research whether issuing a digital currency such as Bitcoin would help it achieve its monetary policy, financial stability and regulatory goals. more »
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Top executives from Bank of America, U.S. Bancorp, American Express, Visa, MasterCard, Microsoft and Apple are expected to participate as part of a White House summit on cybersecurity issues in California on Friday. more »
"Like how Internet protocols work for communication, that's how Ripple works for value exchange," Ripple Labs CEO Chris Larsen said.
The central bank is floating the concept of using the Internet to facilitate the direct clearing of transactions between financial institutions, which would likely diminish its own role in the U.S. payment system. more »
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There's an almost endless list of reasons for payment companies to avoid doing business in Russia, but the opportunities are just as vast. more »
David Luther, executive vice president and chief business officer of Mozido
Mozido LLC is buying its way into China, giving it a head start as big companies like Apple also eye the country's payments market. more »
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The head of the Federal Communications Commission is pushing hard against charging fees for faster Internet access, a stance that's a relief to businesses like Dwolla that use the Internet to develop and deliver payment services. more »
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A federal judge has upheld a Texas law that bars the state's retailers from charging an additional fee to customers who pay with a credit card. more »
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The New York Department of Financial Services has published revisions to the agency's proposed framework for regulating virtual currencies. more »
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The Consumer Financial Protection Bureau is seeking to permanently ban a credit provider in Texas from offering any services because of allegations that it ran a "sham credit card" business. more »
“FICO scores are not what they used to be. In our demographic, they were never good to begin with,” says Green Dot CEO Steve Streit.
Green Dot Corp. plans to start offering credit lines to its customers, a move that likely foreshadows how new regulations will reshape the prepaid card industry. more »
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No matter how the European payments landscape looks after the European Commission's new version of the Payment Services Directive takes effect, merchants can almost certainly expect lower rates for accepting card transactions. more »
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Banks partnering with prepaid card providers face the potential of higher deposit insurance fees and other ramifications from the Federal Deposit Insurance Corp. classifying accounts as "brokered." more »
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The Federal Reserve System threw its weight behind a host of standards, goals and timelines yesterday that are likely to shape the quest to build a faster U.S. payment system. more »
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