Law and Regulation

A federal court ruled that the Trump administration cannot let its funding of the Consumer Financial Protection Bureau lapse, the Associated Press reported. The White House has contested how the CFPB is funded, but the judge said its argument about how the bureau “gets its funds is not valid,” the AP said. …

[Aug. 12] Stablecoin giant Circle Internet Group Inc. early Tuesday unveiled Arc, a new payments platform aimed at major money flows, including foreign exchange. The new service, part of the existing Circle Payments Network, will speed up foreign exchange while offering what the company calls “sub-second instant finality” in settlement, the …

[Aug. 8] With merchants prevailing in their long-running legal battle to overturn debit rate caps set by the Federal Reserve, the largest debit card issuers could wind up the biggest losers, while Capital One Financial Corp. emerges as the big winner. U.S. District Court for the District of North Dakota …

POSaBIT Systems Corp., a payments processor specializing in cannabis merchants, and Dutchie, a software provider to more than over 6,500 cannabis businesses, late Thursday lauded the Trump administration’s decision to reclassify cannabis to a Schedule III drug as a move that could finally open the door for cannabis merchants to …

Visa Inc. announced early Tuesday it is supporting stablecoins as a settlement option for issuer and acquirer banks in the United States, a major move in payment card finance and one observers see as an inevitable next step for the industry, though one that could come with complications. The use …

Merchant groups late Friday filed written complaints regarding the latest settlement offer in their two-decades old lawsuit against Visa Inc. and Mastercard Inc. challenging card swipe fees. The settlement offer, which follows a rejected offer in 2024, was made in November. Merchant groups filing complaints were The National Association of …

Two major players in stablecoins, Circle Internet Financial Inc. and Ripple Labs Inc., received conditional approval Friday from the U.S. Office of the Comptroller of the Currency to establish national trust banks. Both companies coveted the approvals as key to establishing confidence in stablecoins among consumers and businesses as they …

The Ninth U.S. Circuit Court of Appeals required that certain elements of an order that held Apple Inc. in contempt must be modified, but upheld most of the findings as well as an earlier injunction against Apple. The case stemmed from a 2020 lawsuit filed by Epic Games against Apple to challenge …

Fees paid by merchants to accept credit card and debit cards will dampen consumer spending power this holiday shopping season as sellers look for ways to offset the cost, says the Merchants Payment Coalition. Swipe fees are projected to cost merchants at least $19.9 billion this holiday shopping season, up …