The Fintech Times

SEPTEMBER 4, 2024

The UK’s Payment Systems Regulator (PSR) has announced a significant reduction in the maximum fraud reimbursement limit for authorised push payment (APP) scams, lowering it from £415,000 to £85,000 just weeks before new rules take effect in October. Rocio Concha, director of policy and advocacy at UK consumer body Which?,

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Regulations Scams Payments Caps 59

The Fintech Times

APRIL 22, 2024

It’s like Bitcoin and has a high market cap, this one I heard about in the news. However, the mass adoption of many of these DeFi applications is generally considered limited due to the perception of high risk and the lack of financial regulation. Institutional investors are entering the industry, driving regulation at speed.

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Finance Blockchain Cryptocurrency Regulations 130

Fintech News

DECEMBER 13, 2024

Operating on Ethereum and other blockchain networks, XSGD boasts a market cap exceeding $18 million. With a market cap of $4.8 Despite its smaller market cap of $124,960, XIDRs integration into Indonesias evolving blockchain infrastructure positions it for future growth.

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Stablecoins Cross-Border Cross-Border Payments Caps 107

Fintech News

SEPTEMBER 29, 2024

The rapid growth of BNPL services has sparked concern among regulators worldwide. In the UK, the government has announced plans to regulate the BNPL industry, emphasizing the importance of protecting consumers and creating certainty for the industry. billion by 2025, reaching a total of US$8.83 billion.

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BNPL Scams Identity Theft Non-Bank 130

The Payments Association

OCTOBER 21, 2024

The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. Why is it important? What’s next?

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Scams Law Enforcement Crime Fraud Prevention 88

The Fintech Times

JANUARY 14, 2024

The American Fintech Council (AFC), the industry association representing responsible fintech companies and innovative banks, offered testimony before the Washington State House Committee on Consumer Protection and Business recommending key amendments to legislation recently introduced. Earned wage access or loan?

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Regulatory Compliance Consumer Protection Compliance Regulations 64

PYMNTS

MAY 20, 2016

In the latest chapter of the Lending Club drama, on Thursday (May 19), it came to light that New York’s highest-ranking financial regulator has launched an official inquiry into the online alternative lender. The requested New York information dates back to 2013. SEC filings also revealed a grand jury subpoena from the U.S.

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Regulations Laws Underwriting Caps 40

Global Fintech & Digital Assets

FEBRUARY 13, 2024

In June 2023, Hong Kong introduced a comprehensive regime to regulate VA service providers operating a virtual asset trading platform (VATP) (see this Latham blog post ) through an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). Certain regulated entities exempted.

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Regulations Money Laundering Stablecoins Consulting 59

PYMNTS

OCTOBER 24, 2019

There is need for consumer protection. The law would mean that the central bank would license and regulate the lenders, and also force them to have requirements for capital. These mobile loan apps have commercialized poverty.”.

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Regulations Central Bank Small Business Money Laundering 40

Clearly Payments

FEBRUARY 12, 2024

This article aims to explore the impact that Visa and Mastercard has on the payment industry, examining their influence on innovation, regulation, consumer behavior, and the broader economy. Authorities implement regulations to ensure fair pricing practices and protect merchants and consumers from excessive fees.

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Visa Payments Payment Networks Online and Mobile Banking 105

Stax

DECEMBER 20, 2023

On a federal level, the Durbin Amendment , part of the Dodd-Frank Wall Street Reform and Consumer Protection Act was introduced in 2010 and limits transaction fees. No, surcharging for debit card transactions is prohibited under the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Debit Card Legal Credit Cards Processing Costs 88

The Fintech Times

MARCH 16, 2024

Recently in the US, there has been talk of regulation to limit the power of community banks. AFC’s diverse members represent a cross section of responsible Fintech companies that embrace transparency and are rooted in regulatory compliance and consumer protection.

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Community Banks Consumer Protection Regulatory Compliance FinTech 59

Stax

DECEMBER 13, 2023

Understanding Credit Card Surcharges Card networks not only help businesses process credit card payments but they also regulate the industry by establishing surcharging rules and maintaining compliance. Visa caps the surcharge rate at 3% (Mastercard caps it at 4%) and it can be as low as 2% in certain states (e.g.

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Credit Cards Debit Card Laws Rules 88

PYMNTS

DECEMBER 11, 2020

Democrats and Republicans are going after this from different angles, he noted, but they’re all targeting Big Tech firms in the name of consumer protection – even though that’s protection that consumers don’t really seem to want. “I He said that going after Big Tech is increasingly becoming a bipartisan issue.

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FTC BNPL Payments Federal Trade Commission 75

PYMNTS

MAY 30, 2018

Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the ballot. “Our preference is they would pass a bill that would address these measures. But if not, we will take it to the voters.”

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FBI Credit Union Laws Caps 40

PYMNTS

MAY 13, 2016

Because he believes there should be proper protection and regulation over them. How Bill Clinton’s administration dealt with the Internet in order to ensure it was not over-regulated. The point: to ensure laws and regulation would not negatively impact innovation. To regulate bitcoin or not to regulate bitcoin.

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Bitcoin Digital Currency Blockchain Regulations 45

PYMNTS

JUNE 7, 2018

Though the last decade or so has been a challenging time regarding regulation for credit unions and community banks, the last week or so has seen some major progress on that front. Smaller banking advocates pushed back and fought to secure the $250 billion cap, lest bipartisan support for the bill be lost. “We

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Community Banks Online and Mobile Banking Credit Union Caps 62

PYMNTS

MAY 4, 2018

The suit also alleges that NetCredit ran afoul of the state’s usury cap of 12 percent. That maximum rate applies to most consumer loans, with some exceptions. In a lawsuit, the state alleges that NetCredit lent more than $47 million in illegal high-interest loans, The Daily Press reported.

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Consumer Federal Reserve Caps Laws 43

PYMNTS

JANUARY 16, 2018

Regulators spent most of 2017 cracking down on the practice. They also argue that the federal and state governments have no right of regulation here, because tribal sovereignty is protected by treaty. Some short-term lenders – particularly those feeling the squeeze from state regulations around such loans (i.e.

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Laws Regulations CFPB Caps 47

PYMNTS

APRIL 19, 2016

” The White House took the opportunity to give the CFPB a shout-out too, noting that the consumer protection agency was dedicated to creating and enforcing the sort of regulations and controls necessary to keep consumers safe from the worst predations of predatory lenders.

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CFPB Consumer Protection Addressing Laws 40

The Payments Association

APRIL 14, 2025

Payments regulation roadmap: Q2 2025 14 April 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is the roadmap about? This Payments Regulation Roadmap for Q2 2025 provides a high-level yet actionable view of the key developments shaping the sector. Why is it important?

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Regulations ISO 20022 Cross-Border Legal 88

Clearly Payments

JANUARY 8, 2025

Bitcoin, Ethereum, Binance Coin, and several others remain the largest by market cap. Other key factors include: Consumer Protection : Most credit cards come with fraud protection and the ability to dispute charges, building trust among users. Once verified, they are nearly impossible to alter.

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Credit Cards Cryptocurrency Cross-Border Volume 105

Fintech News

OCTOBER 27, 2024

By holding these entities accountable, the SRF enhances consumer protection and provides clear avenues for victim recourse in cases of phishing-related losses. This inclusion acknowledges the increased risk of significant losses from e-wallets and mandates robust consumer protection controls.

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Phishing Scams Blocks Authorization 134

The Payments Association

NOVEMBER 18, 2024

Increased engagement with regulators, widespread adoption of De-Fi practices, and continuous innovation to balance new technologies with compliance requirements. As firms strive to innovate, they must also comply with existing regulations that often do not account for the nuances of decentralised systems. What’s next? billion.

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Stablecoins Distributed Ledger Technology (DLT) Digital Currency Caps 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. Financial Inclusion Will Be One of the Key Themes in the Financial Services Industry.

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BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

APRIL 27, 2017

The fee caps were issued in response to a price-fixing practice by the card industry. As of October 2011, reform regulations limited large banks to charging $0.22 The NRF argued that debit card swipe fee reform had saved merchants and consumers over $40 billion. to ask lawmakers to reconsider. per transaction. Likewise, U.S.

Debit Card 40

Debit Card Caps Consumer Protection Laws 40

PYMNTS

NOVEMBER 28, 2016

Last week, payday lenders asked a federal judge for emergency relief, claiming there was a concerted effort by federal regulators, including the CFPB, to effectively shut them down. An economically sound consumer financial protection regulator would design rules that, on net, make consumers better off.

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Consumer CFPB Credit Cards Federal Reserve 51