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NewsBriefs

This article contains excerpts from news stories recently posted under to help local, state and federal law enforcement agencies
Breaking Industry News on our homepage. For links to these and other identify and track criminal activities at ATMs across the
full news stories, please visit www.greensheet.com/breakingnews. country.
php.
NAC Executive Director Bruce Wayne Renard appreciated
the generous industry-leading founding sponsors who
provided the financial underwriting commitments need-
ed to develop and deploy the database.

Patrick Conner, NAC board chair, highlighted the data-
base's role in safeguarding both ATM operators and con-
sumers. Ed Cramer, NAC vice chair, recognized the col-
laborative effort behind the database's development and
Payment firms named Inc. 2024 Regionals expressed optimism about its effectiveness in curbing
ATM crimes.
Inc. revealed its 2024 regional honorees, recognizing fast-
growing payment companies across various U.S. regions. Banks will fight $8 credit card late fees
These firms collectively generated $75.9 billion in revenue
and created 96,129 jobs between 2020 and 2022. On Super Tuesday 2024, the Consumer Financial Protec-
tion Bureau finalized a rule that would slash typical credit
Notable winners include Liberty1 Financial, Embarc Advi- card late fees from $32 to $8, benefiting over 45 million
sors and Maverick Payments in the Pacific region; FloatMe Americans annually. CFPB Director Rohit Chopra herald-
and SignaPay in the Southwest; VizyPay in the Midwest; ed the rule, ending what he deemed to be excessive fees.
Perfecto Capital and Biller Genie in the Southeast; Pay-
Bright and Bogart Wealth in the Mid-Atlantic; and Black Criticizing banks for profiting disproportionately from
Kite Security and New Silver in the Northeast. Inc. altered late fees, President Biden noted a potential annual savings
its metrics to accommodate early-stage companies and ac- of $220 per person. The CFPB maintains that banks' late
knowledged their significant job creation impact. fees exceed their collection costs, drawing excessive prof-
its from consumers who are struggling to pay on time.
Ben Griefer from Maverick Payments and Austin Mac Nab
from VizyPay expressed gratitude for their companies' in- The rule aims to align credit card fees with the CARD
clusion. Act, which requires banks to provide justification for late
fees greater than $8. However, objections arose. The U.S.
Bye-bye, Google Pay Chamber of Commerce is planning a lawsuit, fearing ad-
verse impacts on credit access and interest rates. Major
Google disclosed plans to discontinue Google Pay, its issuers, including Capital One and JPMorgan Chase, also
challenger to Apple Wallet, effective June 4, 2024. Despite
Google Pay's demise, Google will maintain support for its oppose the rule.
more popular product, Google Wallet, which offers fea- Apple caves in Epic feud
tures like tap-and-pay and digital document storage.
Apple reinstated Epic Games' developer status, allowing
Google Wallet lacks peer-to-peer payment and cashback the creation of an Epic Game Store for iPhones and the
features present in Google Pay. return of the popular Fortnite.

The decision sparked dissatisfaction among users, many This shift occurred after Epic accused Apple of violating
of whom criticized Google for its history of discontinuing EU rules requiring third-party stores on devices. Apple
apps. Some speculated about more of the same in future was fined €1.84 billion for impeding competition from
rebranding cycles. music streaming rivals.

Despite user discontent, Google affirms its commitment Despite announcing changes in January 2024 aimed at en-
to digital payments, promising ongoing improvements in hancing app development, Apple will still review apps for
payment experiences. cybersecurity risks and impose a "core technology fee" on
developers.
NAC fights ATM crime with new reporting tool
The legal feud between Epic and Apple, ongoing for four
Aiming to bolster safety in the retail ATM ecosystem, the years, stemmed from commission rates on Fortnite trans-
National ATM Council introduced the U.S. Secure ATM actions. Epic's recent move to establish a developer ac-
Database in March 2024. count in Sweden aimed to comply with EU law, prompting
Apple's opposition. Under EU pressure, Apple reversed its
Designed to enhance ATM safety, the new reporting tool stance.
for independent ATM providers and suppliers is expected

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