fintech

The CFPB's April 1 compliance deadline for its landmark Personal Financial Data Rights rule passed without enforcement after a federal judge enjoined the regulation and the agency itself declared it unlawful, leaving the future of U.S. open banking to a market moving faster than its regulators.

Visa has unveiled a suite of six AI-powered services targeting the credit card dispute process, deploying generative AI for automated merchant representment and predictive models for issuer decision support as global dispute volumes reach 106 million annually, up 35 percent since 2019.

A proposed ban on stablecoin yield payments has triggered a lobbying war between banks and crypto exchanges, with billions in deposits and a new financial architecture at stake.

The UK's FCA will enforce full oversight of BNPL products from July 15, while New York has proposed the first comprehensive state licensing framework — filling a gap left by the CFPB's withdrawal of federal consumer protections.

Jack Dorsey's payments company eliminated 4,000 jobs—nearly half its staff—attributing the cuts directly to AI productivity gains and predicting most companies will follow within a year.