The Consumer Financial Protection Bureau is suing Walmart, as well as Branch Messenger, a financial technology company that offers deposit accounts at Evolve Bank & Trust. The consumer watchdog agency claims the two companies harvested more than $10 million in junk fees from gig workers participating in Walmart's Spark Drive program.

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Preliminary data from Visa and Mastercard indicate healthy consumer spending growth this holiday season. Both companies define the holiday shopping season as Nov. 1 through Dec. 24.

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Score one for Visa in the fight against payments fraud. The company credits its investments in fraud fighting tools, like artificial intelligence and machine learning tools, for protecting consumers from scammers.

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The Consumer Financial Protection Bureau is suing Early Warning Services and three of its owners for failing to protect consumers from widespread fraud, which the agency said arose from a rush to market back in 2017.

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Visa is going whole hog into the faster payments arena. The card giant just announced an enhancement to Visa Direct, its P2P payment service, with promises to fund U.S. bank accounts linked to eligible debit cards in a minute or less.

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After more than four decades of serving the payments industry with timely news, expert insights and actionable guidance, The Green Sheet is preparing to make a major transition. Starting January 2025, our twice-monthly magazine will shift from print, HTML and PDF formats to HTML and PDF only.

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The Green Sheet recently touched based with Philippe Cece, a solution architect with Ingenico. The following Q&A explores the future of digital payments over the next five years, focusing on evolving trends, the role of standardization, and how technology can enhance both security and user experience while addressing global challenges like interoperability and cross-border transactions.

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Fintech is on the brink of a transformative year. In this Founders' Roundtable discussion, industry heavyweights reveal the forces set to define 2025—tighter regulations, embedded finance, social commerce, and a surge in crypto value. From market shifts to groundbreaking innovation, these insights paint a vivid picture of the future of finance.

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Google Payment Corp. now has to open its books to federal examiners the same as banks and other regulated financial institutions. That's the word out of the Consumer Financial Protection Bureau. But it's not the final word, as Google is challenging the CFPB order subjecting its payment arm to supervisory oversight.

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The Green Sheet recently connected with Dylan Hoeffler, vice president of product marketing at Recurly, to discuss how evolving consumer demands for personalized subscription services are transforming the operational and financial landscape for subscription-based businesses. From revenue reporting and compliance challenges to the integration of advanced tools like automated revenue recognition systems, Hoeffler shares in the following Q&A insights into how businesses can navigate this complexity while meeting customer expectations and regulatory requirements.

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The Clearing House, which operates the RTP network, the largest instant payments system in the United States, disclosed it is raising the individual transaction limit to $10 million. The RTP transaction limit has been $1 million since April 2022, when the limit was increased from $100,000.

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Johanna Michely Garcia, the former CEO of MJ Capital Funding LLC, was sentenced to 20 years in federal prison for orchestrating a Ponzi scheme that defrauded investors of nearly $200 million. Garcia, 41, of Broward County, Florida, pleaded guilty in July 2024 to conspiracy to commit mail and wire fraud, admitting to leading one of the largest investment frauds in South Florida in recent years.

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During the five-day holiday weekend from Thanksgiving through Cyber Monday retailers saw 191 million shoppers, far exceeding pre-pandemic and pandemic levels, but not quite besting the 200.4 million shoppers recorded in 2022, according to the National Retail Federation. The total did, however, well surpass the NRF's 2024 pre-holiday prediction of 183.4 million shoppers over the weekend.

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As the holiday season approaches, email fraud remains a growing concern for consumers and retailers alike. Fraudsters are deploying increasingly sophisticated tactics, exploiting email vulnerabilities to deceive recipients and disrupt businesses. In this Q&A, Diarmuid Thoma, head of fraud and data at AtData, shares insights into the latest email scam trends, practical steps consumers can take to protect themselves, and strategies retailers can use to safeguard their campaigns while maintaining deliverability.

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Elon Musk wants to put the Consumer Financial Protection Bureau on the chopping block. He made his feelings known in a Nov. 27, 2024, post to his social media site, X. "Delete the CFPB. There are too many duplicative regulatory agencies," the presumed co-head of a proposed Department of Government Efficiency wrote.

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