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CFPB's Cordray Homes In on Mobile Banking, Payments
Just two days after Apple unveiled its new program designed to speed the adoption and use of mobile payments, Consumer Financial Protection Bureau Director Richard Cordray cited the burgeoning field as a key area of concern.
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“We need to make sure that the legal and regulatory framework can keep up effectively” with changes to the payment system, said CFPB Director Richard Cordray
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MasterCard Inc. won a court clash with European Union antitrust regulators who refused to hand over a study comparing the costs of bank cards with cash. more »
Bethan Cowper, head of international marketing at Compass Plus.
In Indonesia, Bank Tabungan is partnering with financial services software company Compass Plus to navigate the issuance of EMV-chip cards ahead of its national deadline. more »
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The Consumer Financial Protection Bureau issued a warning to credit card companies that use deceptive marketing to mask hidden charges within promotional interest rates. more »
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Opinion
Although unintentional, missteps in communications by regulators can create headwinds for companies developing payments innovation. more »
Josh Rossi
Josh Rossi is best known for starting the first Satoshi Square, a gathering of Bitcoin enthusiasts who trade the virtual currency for cash in New York City's Union Square, in 2013. He has since brought his ideas to new companies and new parts of the world. more »
A Lamassu Bitcoin ATM
Lamassu Bitcoin Ventures is sending its Bitcoin ATMs to areas that may not be completely welcoming to digital currency, with its newest machine touching down today in the West Village of New York City, the birthplace of the "BitLicense" regulatory concept. more »
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Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University.
The Consumer Financial Protection Bureau issued a warning to consumers about the danger of digital currencies, sparking questions about whether the agency could soon seek to write new rules in that area. more »
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The Consumer Financial Protection Bureau weighed into the debate about the future of digital currencies like Bitcoin, issuing a warning Aug. 11 that they pose significant risks to consumers. more »
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In politics, every penny counts to secure a candidate's position in office. Bitcoin's low cost of acceptance, accompanied by increasing clarity from regulators over its role in campaigns, is making it a more appealing choice for accepting donations. more »
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The Justice Department's legal case against American Express will not benefit consumers and will weaken competition, said Jeff Campbell, executive vice president and CFO of American Express. more »
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The Federal Deposit Insurance Corp. has withdrawn a list of merchant categories, including payday lenders, debt consolidation firms, pornography businesses and others, that it said warranted heightened attention by banks processing their transactions. more »
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Between the proposed virtual currency regulations in New York and those already established in Texas, the future of Bitcoin would be brighter if more states follow the Lone Star State's example, says Jacob Farber, senior counsel for Perkins Coie LLP. more »
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Supporters of Bitcoin and other digital currencies have created a trade association called the Chamber of Digital Commerce to make their voices heard in Washington. more »

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