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Payments News Update – June 6, 2025

Legal and Regulatory Developments SPOTLIGHT: Reuters – June 3, 2025 EU antitrust regulators are asking retailers and payments companies whether a standardized summary of fees by Visa and Mastercard and more transparency on the charges would address their concerns, according to documents seen by Reuters. The latest questionnaires sent...

Payments News Update – May 30, 2025

Legal and Regulatory Developments SPOTLIGHT: Digital Transactions News – May 23, 2025 More states are introducing legislation exempting merchants from paying interchange on sales tax and tips. Bills are currently pending in Alaska, Massachusetts, and New York. In Alaska, the proposed bill, which was attached at...

Payments News Update – May 23, 2025

Legal and Regulatory Developments SPOTLIGHT: Digital Transactions News – May 21, 2025 Sponsors of the Credit Card Competition Act moved late Tuesday to attach the legislation as an amendment to the GENIUS Act, a proposed bill to regulate stablecoins. While the Senate must approve the move, it potentially gives the...

Payments News Update – May 16, 2025

Legal and Regulatory Developments SPOTLIGHT: PYMNTS – May 11, 2025 What if canceling a subscription were as easy as signing up for one? That was the thinking behind the Negative Option Rule — more popularly known as the “click to cancel” regulation, first proposed in 2023. That rule went into effect earlier this year, with enforcement...

Payments News Update – May 9, 2025

Legal and Regulatory Developments SPOTLIGHT: Forbes – May 2, 2025 A Washington D.C. bill is the latest to hit back at credit card swipe fees. The Fair Swipe Act of 2025, introduced by D.C. Councilmember Charles Allen, would prevent banks and credit card companies from collecting processing fees on sales tax and gratuities—charges that...

Payments News Update – May 2, 2025

Legal and Regulatory Developments SPOTLIGHT: Payments Dive – April 28, 2025 Sen. Dick Durbin is retiring, but that doesn’t mean he’s done with credit card reform efforts. The Illinois Democrat announced last week that he wouldn’t seek re-election next year and his four-decade congressional career will end in January 2027. Still, he plans to use some of his dwindling...

Payments News Update – April 25, 2025

Legal and Regulatory Developments SPOTLIGHT: CU Today – April 23, 2025 Sen. Dick Durbin (D-IL) has announced he will not seek re-election next year—a move that likely signals increased efforts to have the Credit Card Competition Act passed in 2025. Durbin stated on X that he plans to serve the remainder of his term. The long-time...

Payments News Update – April 18, 2025

Legal and Regulatory Developments SPOTLIGHT: Payments Dive – April 14, 2025 Republicans on the House Financial Services Committee are seeking to reverse a late 2023 Federal Reserve decision that would cut fees that large financial institutions can charge merchants when consumers use debit cards to pay for goods and services. The 14 Republicans, including the...

Payments News Update – April 11, 2025

Legal and Regulatory Developments SPOTLIGHT: Payments Dive – March 28, 2025 Inspired by an Illinois law, legislators in multiple states are working to ban card swipe fees on sales tax and gratuities, with proposals pushed by retailers and restaurateurs gaining momentum. In recent years, merchants of all sizes have decried rising fees for...

Payments News Update – March 28, 2025

Legal and Regulatory Developments SPOTLIGHT: Payments Dive – March 24, 2025 The Consumer Financial Protection Bureau asked a federal court in Washington for 60 more days to respond to a lawsuit against the agency over its efforts to oversee technology companies that offer digital payments tools. The federal agency finalized a new rule aimed at...