Fintech News

DECEMBER 19, 2023

At the same time, adaptive regulations are acting as a facilitator for the fintech industry, providing frameworks that balance innovation with consumer protection and financial stability, all the while encouraging innovation in the banking sector and fostering competition in the sector.

FinTech 124

FinTech Web 3.0 AI Participant 124

Neopay

JULY 2, 2024

Governance and accountability : Effective governance structures are critical in ensuring that consumer duty principles are embedded within firms. The FCA highlighted that senior management must be accountable for consumer outcomes and that firms should have clear processes for escalating and addressing issues.

Consumer 52

Consumer Compliance Regulatory Compliance Assessments 52

The Fintech Times

JULY 31, 2024

Robin Yan, CEO and co-founder of Fana “As of 2023, fintech platforms face increased regulatory scrutiny and new regulations aimed at enhancing transparency, security, and consumer protection. “Adhering to stringent data protection laws is a primary challenge.

Compliance 64

Compliance AML Regulations Due Diligence 64

Faster Payments Council

APRIL 29, 2021

Adam Telem, Vice President, Product Management, Mastercard, who moderated the session underscored a key concept being addressed by the FPC. "It It is really critical to think about how we, as an ecosystem, can come together and drive the right financial services for unserved and underserved consumers and small businesses."

Financial Inclusion 68

Financial Inclusion Faster Payments FPC Financial Literacy 68

PYMNTS

SEPTEMBER 21, 2020

Brooks said that federal savings associations and national banks participate in activities related to stablecoins involving billions daily as it stands. 21) press release. Acting Comptroller of the Currency Brian P.

Office of the Comptroller of the Currency 68

Office of the Comptroller of the Currency Stablecoins Fraud Prevention OCC 68

Fintech News

APRIL 12, 2024

Moreover, participants will stay abreast of technological innovations and regulatory changes transforming the financial landscape, gaining a competitive edge by learning from success stories and strategies implemented by industry leaders.

APACS 120

APACS FinTech Innovation Finance 120

Fintech News

JULY 3, 2024

percent of its population owning digital assets, the city-state isn’t just participating in the crypto revolution—it’s leading it. The city-state’s approach, balancing innovation with robust consumer protection measures, offers valuable lessons for other nations seeking to navigate the complex world of digital currencies.

Financial Literacy 106

Financial Literacy Cryptocurrency Digital Currency Money Laundering 106

PYMNTS

SEPTEMBER 9, 2019

Florida recently announced it is participating in the probe, which also involves six other states as well as the District of Columbia, noted New York State Attorney General Letitia James. Attorneys general have also started to investigate Google over antitrust concerns, with more than 30 participating in that effort.

Federal Trade Commission 41

Federal Trade Commission FTC Laws Participant 41

FICO

JANUARY 5, 2023

These gains are particularly significant for consumers with new or sparse credit files (such as young people and new immigrants), and they can also help consumers who have previous delinquent payments or derogatory information on their file recover from those bumps in the road. In her role, Ms.

Risk 52

Risk Underwriting Consumer Addressing 52

PYMNTS

FEBRUARY 10, 2017

“The proposed consumer survey, which will include consumer interviews and receipt of consumers’ purchase and finance documents, is designed to assist the FTC by providing useful insights into consumer understanding of the automobile purchasing and financing process at dealerships.

FTC 49

FTC Federal Trade Commission FinTech Consumer Protection 49

PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. FinTechs are interested in providing value-added services to FIs — and can conceivably connect their offerings to the FedNow platform via participating depository institutions.

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97

PYMNTS

MARCH 9, 2018

Still, “we need to ensure that firms can enter and participate in the internal market for financial services on an equal footing and that a high standard of consumer protection is maintained,” Enria said.

Authorization 53

Authorization Regulations FinTech Cryptocurrency 53

PYMNTS

JULY 12, 2018

DFS supports the promise that new technologies are able to reach more consumers, but innovation must also be responsible, and all associated risks must be appropriately managed, including by strong underwriting standards, compliance with usury laws, and capital requirements.

Consumer Protection 40

Consumer Protection Regulations Laws Underwriting 40

Open Banking

APRIL 28, 2023

John Penrose MP, Member of Parliament for Weston-super-Mare; author of Power to the People 2021 , an independent report on ways to improve consumer protection and promote competition. We summarise some of the key themes, questions and aims discussed by the panel and participants below. Marion King, OBL Chair and Trustee.

Finance 52

Finance Authorization Interoperability Disputes 52

Clearly Payments

FEBRUARY 12, 2024

These disruptors often focus on addressing pain points such as high transaction fees, lengthy settlement times, and lack of transparency associated with traditional card networks. Financial regulations and compliance requirements also shape Visa and Mastercard’s operations.

Visa 90

Visa Payments Payment Networks Online and Mobile Banking 90

Global Fintech & Digital Assets

OCTOBER 31, 2023

Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. By Jenny Cieplak , Nima Mohebbi , Parag Patel , Stephen P.

Laws 52

Laws Stablecoins Issuers Legal 52

Fintech Finance

SEPTEMBER 24, 2024

Address institutional changes that may include the rationalisation of current institutions and changes to governance to underpin a resilient, modern, efficient and inclusive payment ecosystem that meets the evolving needs of businesses and consumers. Prioritise initiatives and decide on investment programmes.

Cross-Border Payments 95

Cross-Border Payments Financial Inclusion Cross-Border Payments 95

Global Fintech & Digital Assets

NOVEMBER 1, 2023

A recent report by the Alan Turing Institute scrutinised the potential risks and benefits associated with the use of AI in financial services.Some of the key risks identified include: Consumer Protection: AI has the potential to be used to assist in better understanding customers’ needs and characteristics.

AI 52

AI Regulations Financial Crimes Governance 52

The Fintech Times

MARCH 21, 2024

Opening up day two of PAY360 2024, John Penrose MP addressed the future of open banking and its evolution into smart data, while highlighting what he feels is missing from the Data Protection and Digital Information (DPDI) Bill. He explained how the transition from PSD1 to PSD2 marked a notable improvement in consumer protection.

Cross-Border Payments 64

Cross-Border Payments Cross-Border ISOs Rules 64

Clearly Payments

FEBRUARY 8, 2024

State Agencies: In addition to federal oversight, individual states have regulatory agencies responsible for overseeing financial institutions and consumer protection within their jurisdictions. They establish rules, standards, and fees for participating financial institutions and merchants.

Regulations 87

Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 87

PYMNTS

MARCH 23, 2017

Until a final decision is made, market participants and EU citizens will have the opportunity to respond to an online questionnaire that addresses many aspects of the growing FinTech ecosystem. The force connects with market participants and delves into financial regulation, competition and consumer protection issues.

Consulting 75

Consulting FinTech Participant Consumer Protection 75

PYMNTS

JULY 1, 2019

We would not participate if we thought one firm was pulling more weight than the others, breaking trust in the system.”. We have to understand what [regulators] really want – consumer protection, avoiding fraud, avoiding terrorism financing, avoiding money launderers,” said Lambert.

Financial Inclusion 40

Financial Inclusion Online and Mobile Banking Blockchain Visa 40

PYMNTS

JULY 12, 2017

Time to join has also come down, with process to become a direct participant in the system coming in at seven months in 2016, versus 12 months to 18 months two years ago. The PSR also said the cost of direct access is dropping, with what it called “new joiners” telling the regulators that it cost them £1.2 million to £2.5

Regulations 40

Regulations Faster Payments Consumer Protection Credit Cards 40

The Payments Association

OCTOBER 14, 2024

Click to explore key changes to APP fraud reimbursement rules Click here to open infographic By reducing the cap to £85,000, the PSR aims to balance the need for robust consumer protection with the realities of operating in a competitive payments market. The FCA expects PSPs to contribute to and utilise shared fraud databases actively.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

FICO

DECEMBER 15, 2020

For the past several years, industry has been anxiously waiting for the FCC to clarify one of the most unsettled areas of the now antiquated, nearly three decades old Telephone Consumer Protection Act. New Debt Collection Rules Are Here to Stay. Financial Inclusion Will Be One of the Key Themes in the Financial Services Industry.

BSA 52

BSA Financial Inclusion Suspicious Activity Report (SAR) AML 52

FICO

AUGUST 27, 2018

regulators to develop a system similar to a regulatory sandbox, establishing a national data security and breach notification standard and calling for the rescission of the Bureau of Consumer Financial Protection (BCFP) payday/small dollar lending rule. Yet despite some remaining challenges, Treasury remains very pro-consumer access.

FinTech 49

FinTech Treasury OCC Federal Trade Commission 49

FICO

MAY 22, 2018

That’s the kind of wrap-up that’s long overdue for the industry’s challenge to the Federal Communications Commission’s (FCC) 2015 Declaratory Ruling and Order addressing the Telephone Consumer Protection Act (TCPA), which often seemed like a reality show in desperate need of an ending.

Rules 40

Rules Database Addressing Agreements 40

FICO

JANUARY 5, 2023

regulators take a major step in addressing the emerging open banking landscape. The Consumer Financial Protection Bureau (CFPB) has indicated it will publish rules , not guidelines, aimed at strengthening consumers’ control over and providing portability of their financial account data, sometime in 2023.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52