Weekender: Fed, FDIC force more oversight of Discover

Weekender

April 26, 2025 | A roundup of this week’s most read stories

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Fed, FDIC force more oversight of Discover

The Federal Reserve and the FDIC penalized the card network for overcharging merchants on interchange fees and said the company must pay $250 million in fines, make restitution to merchants, and change its practices as a condition to merging with Capital One.

PayPal pays up for talent

The digital payments pioneer delivered sizable pay packages last year after it hired new executives, including one landing $29.4 million in annual compensation.

Illinois AG, Durbin defend state card fee law

They filed a second brief supporting a state law that excludes taxes and tips from card interchange fees.

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Adyen hit with cyberattack in Europe

Services were disrupted for about eight hours over two days by a distributed denial of service attack, the Dutch company said on its website.

Ramp reportedly angles for part of $700B US credit card program

The fintech is seeking to handle a piece of the SmartPay federal employee charge card program, assisted by its close ties to the Trump administration, the media outlet ProPublica reported.

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