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. The DFPI may also impose fines of up to $20,000 for each day of violation.

Laws 52

Laws Stablecoins Issuers Legal 52

PYMNTS

AUGUST 4, 2016

A spokeswoman from the European Commission told Reuters that national authorities are responsible for enforcing the EU’s rules pertaining to data and consumer protection. The lack of transparency cannot be the rule,” Tarabella said.

Laws 41

Laws Law Enforcement Rules Authorization 41

Fintech News

FEBRUARY 27, 2024

The Hong Kong Monetary Authority (HKMA) proposed stablecoin legislation , driving innovation with projects like the tokenised green bond and the e-HKD pilot. This bill , among other changes, entails the transfer of regulatory authority for cryptocurrencies from Bappebti, the commodities regulator, to OJK, the securities regulatory body.

APACS 98

APACS Regulations Stablecoins Cryptocurrency 98

Stax

DECEMBER 2, 2024

In parallel with growing market adoption of surcharging, more states have considered and enacted surcharging legislation, often with the stated goal of standardizing surcharging and ensuring consumer protection. In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally.

Junk Fees 68

Junk Fees Credit Cards Push-to-Card Laws 68

PYMNTS

AUGUST 30, 2016

The small nation is making a big push in support of FinTech innovation by reforming its payment laws. Singapore’s financial authority said it will look to consolidate exiting legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework.

Laws 40

Laws FinTech Money Laundering Interoperability 40

PYMNTS

MARCH 20, 2020

The regulator will have the authority to request information from tech firms and also enforce other Indian laws aimed at consumer protection and fair competition, the sources said. The move aligns with laws passed in 2019 that tech firms like Amazon and Walmart’s Flipkart are having trouble complying with.

Rules 73

Rules Law Enforcement Laws Regulations 73

PYMNTS

OCTOBER 16, 2020

The Competition and Markets Authority has been investigating hidden advertising on Instagram over concerns that too many social media influencers are posting content about businesses without making clear where they have been paid or incentivized to do so, and that the platform was not doing enough to tackle the problem,” the announcement explains.

Posting 85

Posting Laws Regulations Consumer Protection 85

PYMNTS

SEPTEMBER 30, 2016

The small nation made a push in support of FinTech innovation by reforming its payment laws. Singapore’s financial authority said it will look to consolidate existing legislation related to payment systems, stored value facilities and remittance businesses in order to create a new combined regulatory framework. “A

FinTech 76

FinTech Money Laundering Interoperability Authorization 76

Fintech News

DECEMBER 18, 2024

OJK Strengthens Crypto Oversight with New Regulatory Sandbox Mandate The Indonesian Financial Services Authority (OJK) has mandated that all financial institutions launching new products, including those related to crypto assets, must participate in a regulatory sandbox.

FinTech 88

FinTech Law Enforcement Financial Literacy Innovation 88

Fintech News

FEBRUARY 21, 2024

These tools have enabled law enforcement agencies to trace the flow of funds, unmasking the networks behind criminal operations. The Monetary Authority of Singapore (MAS) played a pivotal role in shaping a safer and more innovative environment for digital assets.

Crime 87

Crime Ransomware Scams Stablecoins 87

The Fintech Times

NOVEMBER 27, 2024

The Financial Conduct Authority (FCA) has unveiled a roadmap outlining key dates for the development of its ‘crypto regime’, as it aims to introduce a clear regulatory framework for the UK’s crypto industry. Louise Abbott , crypto partner at London-based Keystone Law , makes some recommendations. They need to work.”

Regulations 112

Regulations Stablecoins Risk Consulting 112

PYMNTS

APRIL 22, 2020

The sites were used as phishing schemes, authorities said. Working alongside our law enforcement partners and the private industry, the Civil Division’s Consumer Protection Branch is taking action against all manner of COVID-19 consumer scams,” said Assistant Attorney General Jody Hunt in a statement.

Scams 69

Scams Federal Trade Commission Law Enforcement Phishing 69

Stax

JANUARY 15, 2024

Surcharging involves understanding federal laws, state-specific restrictions, and international regulations. Be sure to understand federal laws, state regulations, and international standards to sidestep potential legal issues. Surcharging restrictions for multi-location businesses can get confusing. ​​In Enter the PCI DSS compliance.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Segpay

DECEMBER 13, 2024

These pioneering laws represent the first significant initiatives by governments to establish regulations that protect individuals’ data, aiming to give people more control over how their information is collected, processed, and stored. Fines for non-compliance can range from $2,500 to $7,500 per violation.

Privacy 77

Privacy Compliance CCPA Authentication 77

PYMNTS

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. 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

PYMNTS

MARCH 19, 2019

We attorneys general have authority under consumer protection acts to do both,” said Mississippi Attorney General Jim Hood, according to CNBC , on Monday (March 18). “So It’ll either be in Congress or in a court of law,” he said. “If At some point in the future, there will be a reckoning.

Settlement 62

Settlement Consumer Protection Regulations Privacy 62

PYMNTS

JULY 21, 2020

The Federal Trade Commission (FTC) testified before the Senate Commerce Subcommittee on Manufacturing, Trade and Consumer Protection on Tuesday (July 21), detailing its efforts to combat coronavirus-related fraud, including sending warning letters and trying to educate customers on how to spot a scam, according to a press release.

FTC 56

FTC Federal Trade Commission Scams Law Enforcement 56

NFCW

NOVEMBER 27, 2023

“The CFPB has found that this blurring can put consumers at risk, especially when the same traditional banking safeguards, like deposit insurance, may not apply,” the bureau says.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

PYMNTS

OCTOBER 3, 2019

Two years ago, Chairman Jerome Powell told conference attendees at Yale Law School that digital currencies issued by a central bank would become global targets for cyberattacks, cyber counterfeiting and cybertheft. I do think it is something around digital currency,” he said.

Digital Currency 55

Digital Currency Fed Federal Reserve Central Bank 55

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. France is a precursor.

Regulations 57

Regulations Cryptocurrency Digital Currency Rules 57

PYMNTS

MAY 8, 2019

We will need to determine whether certain contract terms and business practices constitute a violation of the law.” . “The FTC is the sole federal regulator and enforcer in the non-bank small business financing marketplace.

FTC 60

FTC Federal Trade Commission Small Business Regulations 60

Neopay

MAY 7, 2024

The Financial Conduct Authority (FCA) is proposing significant updates to its Financial Crime Guide. The FCA is also looking to incorporate references to cryptoassets and the Consumer Duty, alongside consequential adjustments throughout the guide. However, the proposed changes don’t stop there.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Neopay

FEBRUARY 26, 2024

The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) on 1st February 2024 published a Report setting out the results of a stocktake of BigTech direct financial services provision in the EU. data protection and consumer protection authorities). data protection and consumer protection authorities).

Facilitators 52

Facilitators Non-Bank Authorization Innovation 52

PYMNTS

MARCH 7, 2017

To be clear, the National Bank Act does give the OCC the legal authority to grant national bank charters to companies engaged in the business of banking,” Murray told the conference. Vullo wrote that the OCC “should not use technological advances as an excuse to attempt to usurp state laws that already regulate fintech activities.”.

OCC 40

OCC FinTech Non-Bank Laws 40

PYMNTS

MAY 8, 2017

government agency, authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act passed in 2010 under the Obama administration, and its director Richard Cordray have been criticized for overextending their authority. “We The controversial U.S.

CFPB 48

CFPB Consumer Financial Protection Bureau (CFPB) Authorization Consumer Protection 48

The Fintech Times

JULY 31, 2024

The evolving nature of fintech regulations requires platforms to be agile, constantly updating their compliance strategies to align with new laws and guidelines. “Adhering to stringent data protection laws is a primary challenge.

Compliance 64

Compliance AML Regulations Due Diligence 64

PYMNTS

DECEMBER 1, 2017

It also revived a claim under a New York state consumer protection law. Capital One illegally extracted overdraft fees for purchases that were made when consumers had enough funds in their accounts.”. Circuit Court of Appeals in Manhattan said today that a lower court judge was wrong to dismiss a breach of contract claim.

Request for Comment 46

Request for Comment Available Balance Deposit Account Authorization 46

PYMNTS

MAY 1, 2020

have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. It] is focusing on enhanced, risk-based oversight and supervision in order to ensure effective consumer protection and financial stability. and the U.S.

Privacy 98

Privacy API Innovation Payment APIs and Integration 98

Segpay

MAY 1, 2024

By collaborating with industry stakeholders, regulatory authorities, and other relevant parties to identify and address systemic risks in the digital ecosystem. This will help maintain trust and confidence in digital service providers and ensure that consumers can access reliable and secure payment services without disruption.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

The Fintech Times

FEBRUARY 3, 2024

“Open banking is of huge value to consumers, businesses and has contributed to the UK economy – it’s important that we leverage what we have built to help deliver other smart data schemes in other sectors, such as energy and telecoms.”

Finance 59

Finance FinTech Regulations Financial Inclusion 59

PYMNTS

NOVEMBER 5, 2018

The latest changes proposed by the Fed come on the heels of the May 2018 passage of the Economic Growth, Regulatory Relief and Consumer Protection Act, which in turn scaled back a number of financial regulations introduced a decade ago in the aftermath of the 2008 Financial Crisis. Reg Oversight on Chinese Financial Firms to Broaden?

Fed 51

Fed Federal Reserve Regs Rules 51

PYMNTS

APRIL 28, 2016

The agency, she said, is using the rules on the biggest market participants “to really expand its supervisory authority, including over emerging lenders, and the statute allows for that.”. As of right now, marketplace lenders have no direct federal supervisor, though they are still subject to FTC and CFPB consumer protection laws.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

The Fintech Times

AUGUST 30, 2024

Applications for registration as a cryptoasset exchange or custodian wallet provider have fallen by 51 per cent in the last three years in the UK, according to new data released by the Financial Conduct Authority (FCA).

Breach 59

Breach Assessments Rules Risk 59

The Fintech Times

SEPTEMBER 7, 2024

Ticketmaster, the platform facilitating the sale, has come under fire for how it managed this system, and the UK Competition and Markets Authority (CMA) has since launched an investigation to determine if consumer protection laws were breached.

On-Demand 59

On-Demand Laws AI Consumer 59

Neopay

APRIL 25, 2024

Indeed, the corridors of the European Parliament have been buzzing with both political and technical negotiations on amendments to the Commission’s proposals, whether by adding more stringent transparency requirements on elements such as currency exchange rates or adding new robust consumer protection safeguards.

Fraud Prevention 52

Fraud Prevention Payments Authentication Authorization 52

PYMNTS

JULY 23, 2019

That’s the date, as is well-known, that Strong Customer Authentication (SCA) will debut, a mandate set forth by the European Banking Authority (EBA) for all electronic payments over 10 euros. Call it a matter of meeting the letter of the law without meeting the spirit of it. 14 will be here before we know it. You won’t clock 18 hours.

Payment APIs and Integration 72

Payment APIs and Integration Issuers Compliance Regulations 72

PYMNTS

SEPTEMBER 9, 2016

“We deliver real value through the benefits of security, convenience and consumer protection, and we are committed to investing in our payment services in order to continue to meet the rapidly evolving needs of all our customers.”

Legal 40

Legal Visa Rules Consumer Protection 40