"The Consumer Financial Protection Bureau (CFPB) ordered Block, the operator of the peer-to-peer payments app Cash App, to refund and pay other redress to consumers up to $120 million and pay a penalty of $55 million into the CFPB’s victims relief fund."
American Express Agrees to Pay More Than $138 Million to Resolve Wire Fraud Investigation In Connection With The Sales And Marketing Of Wire Products
"American Express Company has entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Eastern District of New York (the Office), and has agreed to pay more than $138 million for engaging in sales practices that provided inaccurate tax advice...
Unicaja, Fiserv partner to enhance omnichannel payments in Spain
"Unicaja, a leading bank in Spain, has partnered with Fiserv, Inc. to develop advanced payments and eCommerce solutions. Both companies will work together to create new tools that enhance the omnichannel processing of all payment methods, including POS systems,...
Apple in Talks With Barclays, Synchrony to Replace Goldman in Credit Card Deal, Sources Say
"Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions."
Cross-Border QR Payment Service Launched Between Vietnam and Laos
"A cross-border QR payment service between Vietnam and Laos was launched on January 9 to bolster tourism and economic exchanges between the two countries"
Mastercard and FreedomPay Unlock Global Commerce With New Payment Gateway Partnership
"FreedomPay announced a strategic alliance with Mastercard. This collaboration will provide businesses worldwide with a global payment gateway solution, streamlining their ability to connect with acquirers and accept a wider range of payment methods."
CBA Urges Reserve Bank to Scrap all Card Surcharges [Australia]
"Commonwealth Bank has urged the Reserve Bank to scrap surcharges on debit and credit card payments, amid mounting consumer anger over the ubiquitous practice. This would bring Australia into line with overseas economies in Europe and the UK where the practice is...
Episode 254 – Reshaping How We Move Money with Booshan Rengachari, Finzly
Booshan Rengachari, CEO of Finzly, joins Glenbrook’s Elizabeth McQuerry and Simon Skinner to discuss how software, fast payments, and open banking are reshaping the banking industry and the way we think about financial services.
U.S State Regulators Fine Block Inc $80 Million for Insufficient Money Laundering Controls
"Block Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators after the agencies determined the company had insufficient policies for policing money laundering through its mobile payment service, Cash App."
Federal Reserve Reminder: Fees and Payment System Enhancements for 2025
"The recently announced pricing changes for 2025, which took effect Jan. 1, 2025, support Federal Reserve Financial Services’ (FRFS) plans for the new year and reflect our continued strategic focus on providing customers with a fully integrated product suite that...