The Federal Reserve Board said Friday (July 19) that it fined Green Dot $44 million for unfair and deceptive practices and a deficient consumer compliance risk management program. The regulator said in a Friday press release that while marketing, selling and servicing its prepaid debit card products and its...
The arguably natural consequences of fee caps and limits on debit interchange — and the uncertainty of the regulatory climate — are now showing up with an anticipated pullback by banks on traditionally “free” services and products. Amid that pullback, there’s opportunity for neobanks, the...
Federal Trade Commission (FTC) lawsuits resulted in over $324 million in refunds to consumers in 2023. That total includes money returned to consumers as a result of all FTC cases, whether the refund program was administered by the FTC, other federal agencies or the defendants, the...
Huawei is reportedly ready to let WeChat operate on Huawei’s mobile platform without sharing revenue. The deal, Bloomberg News reported Wednesday (June 19), would be a concession by the China-based Huawei designed to maintain its recent lead over Apple in its home country. Sources tell...
August 24, 2022
Coinbase CEO Brian Armstrong made a splash Tuesday (Aug. 23) by announcing that the Nasdaq-listed cryptocurrency exchange was planning to focus more aggressively on moving to a subscription-based trading model. “We’re investing today so much in subscription and services revenue,” he told CNBC on Aug. 23. “I’d like to get to a place where more […]
March 07, 2022
An average of 9% of cardholders were asked to pay a surcharge of their most recent credit card purchase at restaurants or retail stores, according to Credit Card Surcharges, a...
November 29, 2021
As consumers learn more about the costs of accepting credit cards, they’re getting more comfortable with the practice of paying surcharges for the sake of convenience — as well as...
February 10, 2021
With 45 states now allowing merchants to pass along fees of up to 4 percent for the use of credit cards, the switch to so-called “surcharging” has officially taken on...
July 19, 2024
The Federal Reserve Board said Friday (July 19) that it fined Green Dot $44 million for unfair and deceptive practices and a deficient consumer compliance risk management program. The regulator said in a Friday press release that while marketing, selling and servicing its prepaid debit card products and its tax return preparation payment services, Green Dot violated consumer law. […]
June 21, 2024
Federal Trade Commission (FTC) lawsuits resulted in over $324 million in refunds to consumers in 2023. That total includes money returned to consumers as a result of all FTC cases, whether...
June 19, 2024
Huawei is reportedly ready to let WeChat operate on Huawei’s mobile platform without sharing revenue. The deal, Bloomberg News reported Wednesday (June 19), would be a concession by the China-based...
May 29, 2024
This round of jurisdictional ping pong goes to the CFPB. A federal judge in Texas has bounced a lawsuit challenging the consumer protection agency’s credit card late fees cap back...
