The Fintech Times

SEPTEMBER 4, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. Regulatory rules are constantly changing, with new ones being introduced at a rapid rate. .

Compliance 64

Compliance Rules Regulations Cybersecurity 64

PYMNTS

MARCH 6, 2019

It is disappointing that you have a law … changed that quickly, but we have made the adjustments and are moving forward,” he said. The regulations additionally stopped eCommerce outfits from entering into exclusive agreements about product sales. The new eCommerce rules took effect on Feb. billion people in India. .

Rules 63

Rules Regulations Adjustments Agreements 63

PYMNTS

OCTOBER 24, 2019

Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. The attorney general said that Kansas’ economic nexus policy conflicted with the model established in the Wayfair ruling.

Laws 40

Laws Facilitators Rules Governance 40

PYMNTS

OCTOBER 11, 2020

Epic sued Apple in August, accusing the technology giant of violating laws that restrict anti-competitive behavior. Friday's ruling by U.S. She also noted that Epic chose to breach its agreement with Apple with the result that Apple excluded Fortnite from the App Store. A federal judge Friday (Oct.9)

Rules 104

Rules Laws Processors Breach 104

The Fintech Times

SEPTEMBER 30, 2024

UK law enforcement, in particular, faces challenges in tackling fraudsters based overseas due to geographical and legal constraints. International cooperation The report emphasises the global nature of fraud, with criminal networks often operating across borders, making it difficult for individual nations to respond effectively.

Law Enforcement 59

Law Enforcement Cross-Border Fraud Prevention Crime 59

PYMNTS

AUGUST 26, 2016

Wells Fargo , Advanced Micro Devices (AMD) and Fifth Third Bank have reportedly struck settlement agreements with former employees that may have run afoul of U.S. whistleblower protection laws. That includes via confidentiality agreements. A SEC spokeswoman declined to comment.

Laws 40

Laws Settlement Agreements Rules 40

PYMNTS

FEBRUARY 20, 2020

Because of the change, data and privacy will leave the data of tens of millions of people under less protection, and it will be subject to more scrutiny by British law enforcement. to sign new terms of service agreements, people familiar with the matter told Reuters. may also end up negotiating a broader trade agreement.

Privacy 56

Privacy Law Enforcement Laws Rules 56

PYMNTS

JULY 1, 2020

Crypto payments will be valid so long as the fee agreement is “fair and reasonable” and the lawyer can safeguard the virtual property, the opinion states, so as to acknowledge the sometimes turbulent nature of cryptocurrencies. .” Washington D.C.

Digital Currency 78

Digital Currency Cryptocurrency IRS Agreements 78

Nanonets

SEPTEMBER 16, 2024

This process transforms unstructured contract text into structured data that is much more convenient to analyse.This also helps businesses to find and use key details hidden in their contracts, making it easier to understand and manage their agreements. Handles various contract types and formats more effectively than rule-based systems 3.

Legal 59

Legal AI Payment APIs and Integration Agreements 59

PYMNTS

MAY 6, 2016

The CFPB is moving toward a rule change that will make it much easier for consumers — or more specifically groups of consumers — to take banks and other financial institutions to court as part of class action lawsuits. The new rules got its first official public hearing yesterday. It’s official.

Rules 41

Rules CFPB Agreements Laws 41

Payments Source

APRIL 7, 2017

The California Supreme Court ruled Thursday that a provision in an arbitration agreement is invalid if it tries to waive a consumer’s right to stop future violations of laws.

Agreements 60

Agreements Laws Rules Finance 60

PYMNTS

NOVEMBER 22, 2019

Wayfair ruling allowed counties, states and municipalities to pass laws to tax out-of-state sellers and the eCommerce marketplaces that serve them, but the ruling did not disclose specifications on what such laws must look like. The 2018 South Dakota v. Wayfair case. Find the Deep Dive in the Tracker. About The Tracker .

Laws 63

Laws Compliance Rules Governance 63

FICO

SEPTEMBER 20, 2017

New rules from the UK’s Financial Conduct Authority could require new forms of communications aimed at raising awareness with consumers, increasing transparency and tackle the issue of persistent debt across the UK. FICO clients are using this functionality today to send, receive and sign agreements on the consumer’s mobile phone.

Rules 60

Rules Issuers Push-to-Card Credit Cards 60

PYMNTS

AUGUST 5, 2020

Uber’s work during the pandemic has included an agreement to provide health agencies with contact tracing data, meaning the ways of tracking those who have tested positive for the coronavirus and anyone they might have come into contact with. The service aims to help healthcare officials reach infected people and ask them to quarantine.

Returns 113

Returns Agreements Laws Economy 113

Stax

DECEMBER 6, 2023

Businesses must be aware of and adhere to these rules to avoid legal complications and maintain their reputation. So, along with the state and federal laws for credit card surcharging, there are a few additional rules to follow from the card issuer. There may also be caps or regulations on these fees depending on local laws.

Consumer 88

Consumer Credit Cards Alternative Payment Methods Debit Card 88

PYMNTS

JULY 15, 2020

But Judge Ross Cranston ruled the case was unlikely to succeed because Wirecard did not know the price at which Hermes was sold to Mauritius. The ruling also noted due diligence was conducted by two law firms, London-based Osborne Clarke and BTG Legal in Mumbai on behalf of the plaintiffs, FT reported. “To

Due Diligence 64

Due Diligence Money Laundering Laws Legal 64

Stax

MAY 20, 2024

What accounting rules do subscription businesses need to abide by in order to stay compliant with global standards? Identify the contract with the customer Under ASC 606, a contract refers to any agreement between two parties that is verbal, written, or implied. So, what differentiates ‘earned’ versus ‘unearned revenue’?

Accounts 167

Accounts Adjustments Legal Agreements 167

PYMNTS

SEPTEMBER 18, 2018

Those reports speculated about the dollar amount of the settlement — and some possible limits to structural changes in agreements between the card giants and merchants — in the wake of a Supreme Court ruling in June that ruled American Express’ business model and anti-steering provisions were legal. If finalized, the $6.2

Settlement 70

Settlement Visa Agreements Rules 70

Nanonets

MAY 10, 2023

AI and law? These prompts are designed to help with everything from drafting legal documents and contracts, finding relevant case law, and communicating with clients. Let's talk about the major challenges faced by law professionals. 7 ChatGPT prompts for law professionals #1. You might be skeptical - and rightly so.

Legal 52

Legal Laws AI Procedures 52

PYMNTS

APRIL 30, 2018

Four years later, the Commission has reached an agreement on which rules to include in reforms and also how they will be enforced. Enforcement of GDPR laws will fall to the Data Protection Authorities (DPAs) across the EU. million USD) or 4 percent of the company’s global worldwide turnover, whichever is greater.

Rules 47

Rules Authentication Breach Compliance 47

PYMNTS

NOVEMBER 18, 2018

Securities and Exchange Commission late last week settled charges with two companies it charged with offering digital tokens in a manner that ran afoul of rules. It is the first time the SEC slapped companies with penalties for getting around rules via initial coin offerings (ICOs), noted Reuters in a report.

Laws 60

Laws Settlement Rules Security 60

The Fintech Times

MAY 6, 2024

A new report from KARM Legal Consultants, the emerging technologies-focused law firm, provides insightful analysis into how the regulatory environments of the United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Bahrain and Turkey compared to one another as well as to the EU and UK.

Innovation 64

Innovation FinTech BNPL Regulations 64

PYMNTS

OCTOBER 25, 2019

Wayfair ruling paved the way for broadened U.S. tax laws, and some businesses and public sector stakeholders are now pushing back. The case ushered in a wave of state- and municipality-issued economic nexus laws that tax remote sellers based on economic activity rather than physical presence.

Facilitators 40

Facilitators Laws Rules Compliance 40

PYMNTS

SEPTEMBER 13, 2019

To enable continued innovation and growth in the digital economy, the Business Roundtable is asking Congress to pass a comprehensive consumer data privacy law that establishes a national privacy framework and strengthens protections for consumers. to come up with a national privacy law had hit a wall. companies.

Privacy 51

Privacy Laws Assessments Compliance 51

PYMNTS

DECEMBER 28, 2018

Under new rules imposed by the Indian government, eCommerce companies like Walmart-owned Flipkart Group and Amazon, will no longer be able to sell merchandise from companies in which they have an equity interest, or form exclusive agreements with sellers.

Small Business 76

Small Business Rules Governance Government 76

PYMNTS

OCTOBER 26, 2020

The deal in question involves Amazon's bailout deal agreement from 2019, in which the eCommerce giant agreed to buy 49 percent of one of Future's unlisted firms. Amazon, in an email to Bloomberg, said it was satisfied with the ruling for now. “We We welcome the award of the Emergency Arbitrator,” Amazon said, according to the report.

Agreements 57

Agreements Breach Laws Rules 57

Fi911

AUGUST 31, 2023

TILA is a federal law designed to promote the informed use of consumer credit by requiring disclosures about terms and cost. TILA is organized into sections: Section A: Defines the Act’s basic elements and rules. The Truth in Lending Act , commonly abbreviated as “TILA,” is a piece of legislation implemented in the US in 1968.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Risk Mitigation Non-Bank Online and Mobile Banking 52

PYMNTS

OCTOBER 7, 2020

Laws and regulators sometimes create seismic shifts within industries – where new mandates and rulings on trade and competitive practices can be likened to a sledgehammer. For Big Tech, the bleeding may come from cuts, here and there, targeting individual agreements and operations.

Settlement 52

Settlement Agreements Rules CHIPS 52

PYMNTS

OCTOBER 7, 2020

Laws and regulators sometimes create seismic shifts within industries – where new mandates and rulings on trade and competitive practices can be likened to a sledgehammer. For Big Tech, the bleeding may come from cuts, here and there, targeting individual agreements and operations.

Agreements 52

Agreements Settlement Rules CHIPS 52

PYMNTS

FEBRUARY 23, 2020

New rules by the OECD outline the steps to do this, saying it could boost tax revenues by $100 billion a year. And leading world economies will have to show unity in laying down the law for companies, G20 officials said Sunday. s idea to add a “safe harbor” regime to the rules wouldn’t mean that companies could opt out of paying taxes.

Rules 56

Rules Treasury Economy Agreements 56

PYMNTS

JUNE 17, 2020

upheld a 2018 ruling by a lower court, the Court of Appeal, that payments firms Visa and Mastercard had restricted competition for retailers by levying fees on transactions, known as multilateral interchange fees (MIF). ruling on Wednesday was not a final one. Wednesday, the highest court in the U.K. Drilling down into the U.K.

Legal 60

Legal Visa Issuers Acquirers 60

PYMNTS

JULY 14, 2020

Massachusetts is the second state to declare that Uber and Lyft drivers should be deemed employees under state wage and hour laws, the Attorney General’s Office announced on Tuesday (July 14). . Later this year, a ballot initiative sponsored by Uber, Lyft and DoorDash will ask California voters to rescind the law. and Lyft Inc.

Laws 61

Laws Agreements Rules Authorization 61

PYMNTS

OCTOBER 7, 2019

This means that tech firms will have to comply with and navigate numerous state laws that are in turn stricter than the federal bill would have put in place. Supreme Court to rule if the agency’s structure is unconstitutional. Reuters reported that Congress is not likely to pass a federal data protection bill in 2019.

Privacy 53

Privacy Consumer Financial Protection Bureau (CFPB) CFPB Laws 53

PYMNTS

FEBRUARY 20, 2020

As part of his plea agreement, Chen admitted to operating the U.S. In other crime-related crypto news, a drug dealer has lost millions in cryptocurrency after a judge ruled that it was the proceeds of criminal activity. Collins did not contest the CAB’s ruling. He was found to be carrying some amount of marijuana.

Bitcoin 52

Bitcoin Law Enforcement Crime Cryptocurrency 52

PYMNTS

MARCH 12, 2019

businesses … Various parts of our government are studying whether that discriminatory impact would give us rights under trade agreements, WTO, treaties.”. Progress on international tax law is a hotly debated topic, but hasn’t moved quickly.

Treasury 52

Treasury Cross-Border Agreements CHIPS 52

PYMNTS

MAY 7, 2019

Tencent-owned Chinese chat app WeChat has altered its terms of service agreement to stop merchants from raising funds using cryptocurrency or tokens, according to reports. The new rules go into effect on May 31, and violators will have their accounts terminated. WeChat revised the terms last month, and without much fanfare.

Cryptocurrency 53

Cryptocurrency Laws Bitcoin Agreements 53

PYMNTS

FEBRUARY 26, 2019

Caesars Entertainment announced that it has reached an agreement to offer DraftKings , the leading sports-tech entertainment brand in the country, providing market access for its online gaming products. and international sports, pursuant to state rules and regulations. and Australia. .” and Australia.

Agreements 43

Agreements Database Laws Rules 43