Issuing/Originating

American Express Co. reached an approximately $230 million settlement with the Department of Justice late Wednesday over allegations the card company engaged in deceptive marketing practices. The DoJ claims that AmEx’s deceptive marketing practices for its credit card and wire transfer products violated the Financial Institutions Reform, Recovery and Enforcement …

Recurring payments specialist Chargebee said its Retention product is in compliance with the Federal Trade Commission’s Negative Option rule, or click to cancel rule. That rule intends to make canceling a subscription as easy as the sign up process among other stipulations. Jupiter Payments said Get Honest Solutions, an independent sales organization that used …

Reuters is reporting that Apple Inc. is talking to Barclays to become the iPhone maker’s new partner for credit cards, replacing Goldman Sachs. Other financial institutions are said to be candidates as well, including Synchrony. Apple and Goldman launched the Apple card in 2019, but since then Goldman has indicated it will move …

As 2025 begins to unfold, some experts and network providers are beginning to think the year could see a breakthrough for stablecoins, the digital currency generated by a blockchain but with a value tied to a national currency, such as the dollar. That link allows users to deploy digital dollars, …

Consumers with subprime or deep subprime credit scores accounted for the majority of buy now, pay later originations from 2021 to 2022, a report by the Consumer Financial Protection Bureau finds. Within those two subsets, 45% of BNPL loans during that period were taken out by consumers with deep subprime …

Payments platform Checkbook has acquired sureti, a provider of technology for the distribution of insurance payouts. Terms were not announced. The Consumer Financial Protection Bureau said it is asking for comment on implementing existing financial privacy law and how to address what it labeled intrusive data collection and personalized pricing. It also wants comment …

Opponents of the proposed Credit Card Competition Act expect the bill will be reintroduced in Congress, so the Electronic Payments Coalition launched a pre-emptive strike late Wednesday with a report detailing the bill’s potential economic impact. The study, conducted by Oxford Economics Research, claims the CCCA’s impact on the U.S. …

The Accredited Standards Committee X9 Inc. has published a standard, “QR Code Protection Using Cryptographic Solutions, X9.148,” laying out how to create secure QR codes. Nuvei Corp. announced it will provide payments processing in a partnership with GIG, a technology company specializing in the iGaming business. Paysafe Ltd. has won approval from the …

Affinity Federal Credit Union is working with fintech Greenlight Financial Technology Inc. to launch a financial-literacy program. The program will provide Affinity members and their families free access to Greenlight’s mobile app and debit card for kids and teens. The app allows parents to manage their child’s spending, send money, …

An Asian-American businesswoman named Nisha Desai has sued PayPal Holdings Inc. on grounds of racial discrimination, alleging the company restricted some of a $535-million investment commitment to Black and Hispanic candidates. The suit, filed in U.S. District Court for the Southern District of New York, asks for unspecified damages and an order …