PYMNTS

MARCH 1, 2020

The facial recognition app Clearview AI was banned from Apple ’s developer program after allegedly violating the iPhone maker’s rules, Buzzfeed News reported on Friday (Feb. Analysis by BuzzFeed News of Clearview AI’s app for Apple’s mobile operating system discovered that Clearview broke rules about the distribution of its apps.

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Law Enforcement AI Blocks Laws 60

PYMNTS

OCTOBER 26, 2018

More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business. Reports in Reuters on Thursday (Oct.

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

JULY 7, 2019

Are new bitcoin rules coming? Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The move comes as U.S.

Regulations 82

Regulations Legal Framework Cryptocurrency Bitcoin 82

PYMNTS

MARCH 5, 2019

According to the Associated Press , individuals were blocked from buying tickets 17.5 million times from purchasing train tickets, while 128 people were blocked from leaving the country because of unpaid taxes. million people to “voluntarily fulfill their legal obligations.”

Blocks 43

Blocks Legal Governance Government 43

PYMNTS

NOVEMBER 21, 2016

According to a report by Fortune , last week, the Supreme Court ruled the class-action lawsuit can move forward. The court ruled a district court was wrong when coming to the determination that consumers had no legal standing for a lawsuit and that it hadn’t showed antitrust violations. Visa, Mastercard and banks in the U.S.

Visa 66

Visa ATM Consumer Legal 66

PYMNTS

NOVEMBER 20, 2020

The European Commission noted on its site that the legal framework for digital services has been unchanged in the region for about 20 years. The Digital Services Act package would propose ex-ante rules covering large online platforms acting as gatekeepers, which now set the rules of the game for their users and their competitors.

Legal Framework 104

Legal Framework Rules Fed Regulations 104

PYMNTS

OCTOBER 24, 2019

Nearly four years on, little progress has been made — and now there’s a significant stumbling block. District Court for the Southern District of New York ruled Monday (Oct. The ruling, too, said that “only depository institutions are able to receive national bank charters from OCC.”. As reported , the U.S.

Legal 40

Legal Office of the Comptroller of the Currency OCC FinTech 40

PYMNTS

MAY 5, 2016

Later this morning the CFPB will begin taking comments on proposed rules that would ban financial firms from placing mandatory arbitration clauses within consumer contracts. Many banks and financial companies avoid accountability by putting arbitration clauses in their contracts that block groups of their customers from suing them.

CFPB 40

CFPB Rules Credit Cards Disputes 40

PYMNTS

JULY 4, 2016

Spotify had sent the ‘anticompetitive’ accusation letter to Apple earlier last week, after Apple blocked an update to Spotify’s iOS app, allegedly to thwart any potential competition to its Apple Music service.

Rules 41

Rules Blocks Legal Laws 41

PYMNTS

JULY 11, 2017

The Consumer Financial Protection Bureau (CFPB) has handed down a controversial ruling stating companies cannot opt to use arbitration clauses in their contracts with consumers in a manner that keeps consumers from joining class action lawsuits. The rule begins applying to agreements and contracts 180 days later.

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Credit Cards 40

Stax

JANUARY 15, 2024

Failure to comply with its policy frameworks can have severe consequences— legally and financially. In the following sections, we’ll delve into the legal framework, compliance standards, and best practices to navigate the complexities of surcharging. Swipe fees have doubled in a decade and increased by 20% since 2022.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

PYMNTS

JUNE 14, 2017

Potcoin , the digital cryptocurrency similar to bitcoin but aimed at the legal marijuana market, got much-needed publicity by sponsoring Dennis Rodman’s trip to North Korea. The rule would serve as an extension of an Obama-era policy that gave banks guidance on working with cannabis-related businesses and staying within the law.

Legal 71

Legal Laws Blocks Bitcoin 71

PYMNTS

SEPTEMBER 13, 2020

Epic asked the Northern California District court to stop Apple from blocking the game. Epic Games and Apple are at liberty to litigate against each other, but their dispute should not create havoc to bystanders,” Rogers wrote in a ruling. Apple fought back. In advance of a hearing set for later this month, U.S. On Thursday (Sept.

Blocks 63

Blocks Disputes Legal Rules 63

PYMNTS

NOVEMBER 18, 2019

Legislation in California that aims to expand worker protections for so-called gig economy workers has led to a debate in the state’s freight services market and a lawsuit hoping to block the law. The CTA filed its lawsuit to block California’s law last week, the report said. “To Finance reported Monday (Nov.

Laws 40

Laws Legal Continuity Blocks 40

Fintech News

JULY 24, 2024

There are no exhaustive or proper regulations of repurchase activities, hence RBI may see it as a circumvention of the FLDG rule. Operating under the FLDG rule is risky in itself because it does not allow fintechs to work with the segments that they are primarily targeting. Once it reaches this limit, it has to get a license to lend.

Non-Bank 111

Non-Bank Risk Regulations FinTech 111

PYMNTS

SEPTEMBER 9, 2020

28, which it did, arguing that Epic violated Apple’s rules. Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power in order to impose unreasonable restraints and unlawfully maintain its 100 percent monopoly over the iOS In-App Payment Processing Market,” Epic Games wrote in the legal filing.

Rules 63

Rules Blocks Legal Process 63

The Payments Association

DECEMBER 16, 2024

Sudden changes to foreign exchange laws or restrictions on capital flows can delay or block payments. Non-compliance with new rules, such as anti-money laundering (AML) or tax regulations, may lead to fines, legal issues, and reputational harm. Jurisdiction Risks Operating in multiple jurisdictions introduces regulatory risks.

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

Fintech Finance

MARCH 22, 2024

This surge in Payment Frauds due to digital transactions poses a significant threat to security, causing critical issues for businesses such as direct revenue loss, bank account debit freeze, working capital blockages, operational complexities, legal expenses, and the looming threat of account termination due to high chargebacks.

PCI DSS 52

PCI DSS Payment APIs and Integration Risk Management Payments 52

PYMNTS

JULY 7, 2019

Are new bitcoin rules coming? Congress “is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.”. is falling behind: Japan and Switzerland have developed legal frameworks that have attracted cryptocurrency projects and investment. The move comes as U.S.

Regulations 51

Regulations Legal Framework Cryptocurrency Bitcoin 51

FICO

JUNE 18, 2018

Banks are identifying, categorising and provisioning NPL more rigorously, and working on standardising and improving work-out, legal enforcement and underwriting processes. You can analyse the European landscape by dividing the countries into 3 blocks. Block 1 — Countries with NPL ratios > 20%. NPL Divides Europe.

Blocks 63

Blocks Non-Bank Risk Volume 63

PYMNTS

APRIL 16, 2019

got approval to move forward after a court reversed a ruling by the Competition Appeal Tribunal. Court of Appeal rejected the tribunal’s ruling from 2017, which had blocked the claimants from pursuing the case led by Walter Merricks, the former financial ombudsman. A consumer lawsuit against Mastercard in the U.K.

Visa 59

Visa Cross-Border Payments Cross-Border Rules 59

PYMNTS

SEPTEMBER 9, 2020

28, which it did, arguing that Epic violated Apple’s rules. Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power in order to impose unreasonable restraints and unlawfully maintain its 100 percent monopoly over the iOS In-App Payment Processing Market,” Epic Games wrote in the legal filing.

Rules 56

Rules Blocks Legal Process 56

PYMNTS

APRIL 18, 2018

Russia is making good on its threat to ban Telegram by blocking IP addresses owned by Google and Amazon, saying they were being used by the messaging service. On Monday (April 16), a Russian court made it easier for the government to block Telegram after its creators refused to turn over access to its users’ encrypted messages.

Blocks 43

Blocks Encryption Authorization Addressing 43

PYMNTS

APRIL 30, 2019

The document illustrates how little action was taken to respond to the warnings, a move that the EBA says is a breach of EU rules. Earlier in the month, EU’s national banking supervisors, who oversee the EBA, did not agree with the proposal on the breach of rules and blocked any further action against Danish and Estonian regulators.

Money Laundering 51

Money Laundering Central Bank Breach Rules 51

PYMNTS

DECEMBER 18, 2018

million) for illegally blocking cross-border sales in Europe. Guess’ distribution agreements tried to prevent EU consumers from shopping in other Member States by blocking retailers from advertising and selling cross-border,” Commissioner Margrethe Vestager, in charge of competition policy, said in a press release.

Cross-Border 43

Cross-Border Blocks Rules Agreements 43

PYMNTS

DECEMBER 5, 2019

No global stablecoin arrangement should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and addressed,” the ministers said in a joint statement. The finance ministers also emphasized the need for legal clarity regarding any cryptocurrency arrangements.

Digital Currency 52

Digital Currency Stablecoins Finance Central Bank 52

PYMNTS

MARCH 3, 2020

Several legal experts have said that TurboTax’s deal to buy personal finance site Credit Karma for $7.1 Some have pointed to a similar attempt by H&R Block, when it tried to purchase another do-it-yourself tax software company in 2011 but was blocked by regulators. Intuit Bid For Credit Karma Triggers Antitrust Worries.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) CFPB Blocks Cryptocurrency 52

PYMNTS

FEBRUARY 21, 2019

It looks like the deal to merge Sainsbury’s with Walmart-owned Asda could be in fatal trouble — after a ruling by the Competition and Markets Authority on a deal that would have created the U.K.’s Some consumer groups have thus lauded the ruling as protecting consumers right to a diverse array of goods. billion) deal.

Rules 46

Rules Blocks Legal Regulations 46

PYMNTS

MARCH 25, 2019

million (40 million euros) for blocking cross-border sales in Europe. Vestager said in a press release at the time, “GUESS’ distribution agreements tried to prevent EU consumers from shopping in other Member States by blocking retailers from advertising and selling cross-border.” based retailer GUESS $45.3

Cross-Border 40

Cross-Border Blocks Agreements Legal 40

PYMNTS

SEPTEMBER 8, 2020

In fact, Epic has gotten so good at persuading consumers to make in-app purchases that the company has recently found itself in a big legal battle with Apple and Google. Apple and Google both ruled the move a violation of app store guidelines, which prompted blocking Epic from both online stores.

Microtransactions 69

Microtransactions Legal Blocks Innovation 69

PYMNTS

OCTOBER 14, 2020

That earlier ruling found both firms were required under the new legislation to reclassify their workers. And while Uber and Lyft’s battles in court are ongoing, the courts are not to be the only front in the ridesharing firm’s battle to block AB 5. In their oral arguments during the Tuesday (Oct.

Laws 83

Laws Economy Rules On-Demand 83

PYMNTS

OCTOBER 7, 2019

And, they said, no clear rules exist for how to make their platforms properly accessible.”. For instance, Google has announced the launch of Action Blocks , a new tool that allows people with cognitive disabilities to build Google Assistant commands. Rise in Cases. More Services for Disabled People.

Online and Mobile Banking 55

Online and Mobile Banking Blocks Innovation Legal 55

FICO

DECEMBER 12, 2017

The TCPA reform effort is expected to commence after the United States Court of Appeals for the District of Columbia rules on the challenge (led by ACA International - the Association of Credit and Collection Professionals - and others) to the FCC’s July 2015 Declaratory Ruling and Order. And yet we continue to wait.

Database 45

Database Blocks Rules Addressing 45

PYMNTS

SEPTEMBER 23, 2019

CUs are facing pressure on the regulatory side as well, with banking advocacy organizations like the American Bankers Association (ABA) pressuring federal regulators to block rule changes that would help CUs compete with large banks. can now provide financial services to legal hemp farmers and businesses.

Credit Union 63

Credit Union NCUA Online and Mobile Banking Underserved 63

PYMNTS

APRIL 12, 2017

According to Bitfinex, this effectively blocks stateside customers from selling virtual currency holdings. Tether, which allows users to make payments with a digital token worth $1, also alleges that it had wire transfers frozen by Wells Fargo.

Bitcoin 40

Bitcoin Wire Transfer Federal Reserve Digital Currency 40

PYMNTS

AUGUST 19, 2019

The repayment provisions of the Consumer Financial Protection Bureau’s (CFPB) payday lending rule will not be in place as of today, which had been the date mandated in regulations announced two years ago. The CFPB had filed suit to challenge the rule’s implementation, and critics had charged that the rule could drive lenders out of business.

CFPB 51

CFPB Federal Trade Commission Regulations FTC 51

Nanonets

NOVEMBER 14, 2023

This approach often succeeds because recipients, perceiving the email as originating from a trusted source like a colleague or legal representative, may unwittingly comply without suspicion. Attorney Impersonation: BEC scammers, posing as attorneys or legal representatives, send emails claiming urgent legal matters requiring immediate action.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Phishing 52