Lynne Marek

5 days ago | paymentsdive.com | Lynne Marek

The Consumer Financial Protection Bureau followed through Friday on a plan to let its open banking rule die. The federal agency filed a motion for summary judgment in U.S. District Court for Eastern Kentucky in a case brought by bank groups last year challenging the rule. In its Friday filing, the CFPB conceded the rule was unlawful. The rule “unlawfully seeks to regulate open banking by mandating the sharing of data with ‘authorized third parties,’” the CFPB’s 27-page filing asserted.

5 days ago | paymentsdive.com | Lynne Marek

The Illinois state legislature moved to postpone, by one year, the implementation of a law to exempt taxes and tips from credit and debit card interchange fees. The state enacted a landmark law last year that would require bank card issuers and their networks to avoid imposing the fees on merchants for taxes and tips on any purchases as of July 1 of this year. But both chambers of the legislature passed a brief amendment Sunday that delays the effective date of the law to July 1, 2026.

1 week ago | paymentsdive.com | Tatiana Walk-Morris |Lynne Marek

An article from Dive Brief The startups, which both offer cross-border payments, each closed on major capital-raising efforts this week. Published May 30, 2025 By Tatiana Walk-Morris and Lynne Marek Currency bills from different countries.

1 week ago | bankingdive.com | Lynne Marek

Global Payments plans to sell its payroll software services business to Grand Rapids, Michigan-based Acrisure for $1.1 billion, the company said in a press release Wednesday. As part of the transaction, the companies also entered a commercial agreement under which Global Payments will continue to offer the human resources and payroll software services to its merchant clients, the release said.

1 week ago | cfodive.com | Lynne Marek

Fiserv still expects its Clover point-of-sale unit to take in $3.5 billion in revenue this year, despite disclosures during the first-quarter earnings call that suggested the fast-growing business was plateauing, Chief Financial Officer Bob Hau said at an investor conference last week. “That's our expectation to deliver that $3.5 billion dollars, and we feel good about our ability to do that,” Hau said.