FedNow’s Slow Rollout Is Not a Matter of Concern
Fewer than 500 banks out of the roughly 4,000 U.S. banks are making use of the Federal Reserve’s instant payment...
What’s Driving the Drop in Credit Scores
Despite a rebounding economy, the average U.S. consumer credit score has dropped for the first time in a decade. The...
Card Issuers Must Prepare for Reductions in Late Fees
The new Consumer Financial Protection Bureau (CFPB) rule, cutting the maximum credit card late fee from $32 to $8, could...
For British Consumers, Contactless Payments Are the Way to Go
Britain’s retail business is now conducted almost entirely via contactless payments, according to data from Barclays. A record 93.4% of...
Hospitals, Pharmacies Still Scrambling to Get Paid After Cyberattack
The cyberattack on payments processor Change Healthcare has left crucial reimbursement systems down for nine days since its discovery, and...
Latin America’s Payments Landscape Is ‘Ripe for Innovation’
Latin America’s financial landscape harbors several factors that breed payments innovation: diverse populations, a large contingent of unbanked or underbanked...
Ripples Through Crypto World End Up Costing Gemini, Winklevoss Twins $1 Billion
A wave of bankruptcies across the crypto landscape has led to Gemini, the cryptocurrency exchange founded by the Winklevoss twins,...
Brazil’s Pix Moves to Take Instant Payments Around the World
Pix, Brazil’s instant payments system, which garnered more than 160 million users since its launch in 2020, is going global....
APR Margins Are Driving Sky-High Credit Card Rates
The average annual percentage rate (APR) on credit cards reached 22.8% in 2023, according to a report from the Consumer...
U.S. Senators Seek to Ban CBDCs Before They Ever Happen
Five Republican senators have introduced legislation aimed at preventing the Biden administration from issuing a central bank digital currency (CBDC)....
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