The Fintech Times

FEBRUARY 27, 2024

. “Protection is an increasing priority for consumers and the industry is likely to focus heavily on this over the next 12 months. “However, the challenge lies in the lack of a clear funding strategy and a consistent international approach to protection.

Consumer Protection 69

Consumer Protection Stablecoins Payments Trends Consumer 69

Finextra

FEBRUARY 9, 2024

The emergence of Variable Recurring Payments (VRPs) marks a significant milestone in the realm of op.

Consumer Protection 59

Consumer Protection Consumer Payments 59

PYMNTS

JULY 23, 2020

Axios reported the investigation is examining Apple’s possible use of deceptive trade practices that may have broken consumer protection laws. Texas Attorney General Ken Paxton is leading a multi-state probe against Apple Inc. While details of the inquiry are unclear, the probe may lead to the latest lawsuit against Apple.

Consumer Protection 63

Consumer Protection Consumer Laws Legal 63

PYMNTS

JANUARY 23, 2020

Parliament’s Internal Market and Consumer Protection Committee issued a resolution Thursday (Jan. 23) that will put rules into place to address the challenges of fast-developing artificial intelligence and automated decision-making technology.

Consumer Protection 52

Consumer Protection AI Automation Consumer 52

The Paypers

DECEMBER 20, 2023

The Payment Systems Regulator (PSR) has confirmed new reimbursement requirements in a final publication ahead of 2024.

Consumer Protection 41

Consumer Protection Consumer Regulations Payments 41

The Payments Association

SEPTEMBER 16, 2024

The FCA's latest guidance proposes a risk-based approach allowing payment service providers to delay outgoing payments to combat APP fraud, balancing fraud prevention with consumer protection. Read more

Risk 88

Risk Fraud Prevention Consumer Protection Payments 88

The Payments Association

AUGUST 7, 2024

The PSR's July 2024 report on APP scams highlights growing fraud sophistication and the challenges for financial institutions, stressing the need for improved regulations and consumer protection. Read more

Scams 100

Scams Consumer Protection Regulations Consumer 100

The Payments Association

AUGUST 14, 2024

Regulatory changes in BNPL, cVRPs, and digital wallets aim to boost e-commerce innovation and competition while safeguarding consumer protection and market stability. Read more

BNPL 88

BNPL Consumer Protection Payments Innovation 88

The Payments Association

JUNE 7, 2024

The Consumer Rights Act 2015 aimed to unify UK consumer protections, but rapid digital advances in banking have necessitated a stronger focus on fraud protection. Read more

Consumer Protection 88

Consumer Protection Consumer Compliance Regulations 88

The Payments Association

JUNE 20, 2024

million lost in early 2023, prompting calls for stronger consumer protections. APP fraud is surging, with UK Finance reporting £42.6 Read more

Regulations 88

Regulations Consumer Protection Security FinTech 88

Payments Dive

MAY 21, 2024

“Whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations,” CFPB Director Rohit Chopra said.

CFPB 97

CFPB Credit Cards BNPL Consumer Protection 97

The Payments Association

MAY 7, 2024

With the UK's financial watchdogs set to establish a regulatory regime for stablecoins, payment service providers must brace for stringent new standards in operations, redemptions, audits, and consumer protection. Read more

Stablecoins 88

Stablecoins Audit Consumer Protection Service Provider 88

Payments Dive

OCTOBER 2, 2023

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

Agreements 103

Agreements FDIC Consumer Protection Laws 103

Fintech News

JUNE 5, 2024

The new laws aim to balance consumer protection with innovation and competition. Stephen Jones Assistant Treasurer and Minister for Financial Services, Stephen Jones MP, emphasised the government’s commitment to consumer protection. ” “The government is working hard to protect consumers against financial harm.

Regulations 104

Regulations BNPL Product Consumer Protection 104

Payments Dive

OCTOBER 31, 2022

Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.”

Zelle 131

Zelle CFPB Funds Transfer Consumer Protection 131

Fintech News

NOVEMBER 20, 2024

The Monetary Authority of Singapore (MAS) is streamlining the product approval process for life insurers while maintaining robust consumer protection. These revisions aim to facilitate innovation within the life insurance sector while maintaining robust consumer protection.

Product 56

Product Process Consumer Protection Compliance 56

Fintech Finance

NOVEMBER 19, 2024

While this payment method remains popular due to Visa and Mastercard’s robust consumer protection frameworks, it is essential for issuers to ready their operations for the anticipated rise in disputes. Recent data indicates that the average UK resident makes approximately 70 card transactions per month.

Disputes 69

Disputes Consumer Protection Duplicate Transactions 69

Bank Automation

AUGUST 23, 2024

The Consumer Financial Protection Bureau has once again made it clear that new AI- and machine learning-based technologies are held to the same consumer protection regulations as established technologies.

AI 75

AI CFPB Consumer Protection Laws 75

Finextra

OCTOBER 23, 2024

Highlighting the role of AI, APIs, and blockchain in enhancing security and speed, while PSD2 and PSD3 drive open banking and consumer protection, the discussion focuses on innovations like embedded finance and instant payments that offer transparency and flexibility.

IBAN 64

IBAN Technology Embedded Finance Instant Payments 64

The Fintech Times

DECEMBER 19, 2023

The focus is now on introducing limited and proportional regulation while considering BNPL services as a cost-effective means for consumers to access flexible credit. The proposed changes aim to strike a balance between consumer protection and fostering innovation within the BNPL sector.

BNPL 113

BNPL Regulations Finance Consumer Protection 113

The Paypers

SEPTEMBER 30, 2024

The Financial Conduct Authority (FCA) has been consulting on proposals to scale consumer protection when payments and e-money companies cease their operations.

Consumer 41

Consumer Consumer Protection Consulting Authorization 41

Fintech News

MARCH 20, 2024

A second product, named “Shopping Secure,” is slated for release in the second quarter of the year, aiming to further extend consumer protection measures.

BNPL 104

BNPL Embedded Finance Consumer Protection Financial Inclusion 104

Payments Source

SEPTEMBER 24, 2020

But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation. The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard.

Regulations 144

Regulations OCC Consumer Protection FinTech 144

Neopay

SEPTEMBER 11, 2024

The decision to align with the FSCS limit ensures consistency in consumer protection standards, making it a familiar and well-understood safeguard for victims. This adjustment aims to provide robust consumer protection while continuing to incentivise financial firms to enhance fraud prevention mechanisms.

Caps 52

Caps Consulting Scams Fraud Prevention 52

Fintech News

APRIL 28, 2024

This distinction, effective from 1 May 2024, allows consumers to easily recognise these accredited providers, signaling their compliance with the stringent standards set out in the BNPL Code of Conduct. Buy Now, Pay Later Accredited Trustmark The trustmark signifies a commitment to responsible lending and consumer protection.

BNPL 105

BNPL Compliance Accreditation Consumer Protection 105

Payments Dive

MARCH 21, 2022

A report this month from the organization outlines a litany of complaints about buy now-pay later, such as hidden fees, and suggests the industry is trying to evade consumer protection laws.

Consumer 97

Consumer BNPL Consumer Protection Laws 97

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?

Regulatory Compliance 64

Regulatory Compliance Consumer Protection Compliance Regulations 64

The Paypers

SEPTEMBER 27, 2024

The Virtual Assets Regulatory Authority (VARA) has updated its marketing regulations for VASPs in Dubai to enhance transparency and consumer protection.

Rules 36

Rules Consumer Protection Authorization Regulations 36

Finextra

JULY 4, 2024

Technology must be embedded in the customer journey to allow instant payments to take off, and consumer protection must also be prioritised so that the experience is akin to card payments.

Instant Payments 59

Instant Payments Consumer Protection Payments Consumer 59

The Payments Association

OCTOBER 21, 2024

The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. This can be achieved by enabling data and intelligence sharing between firms and across sectors so effective controls and protections can be implemented, helping to keep everyone safe.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

Fintech News

JULY 21, 2024

Key improvements to the regulations include enhanced institutional frameworks, risk management, governance, and consumer protection, with a focus on bolstering support for the productive sector.

P2P 100

P2P Caps Consumer Protection Risk Management 100

Fintech News

MAY 5, 2024

Announced by Dr Daranee Saeju, Assistant Governor, Payment Systems Policy and Financial Consumer Protection Group, Bank of Thailand at the recent Money20/20 Asia event in Bangkok, this move aims to enhance the speed and security of international transactions.

Cross-Border 114

Cross-Border Cross-Border Payments Payment Networks Consumer Protection 114

Finextra

MARCH 20, 2024

Chubb, a world leader in insurance, and Atome, one of Southeast Asia’s leading digital financial services platforms, today announced a regional partnership to help drive consumer protection across Southeast Asia.

Consumer Protection 52

Consumer Protection Product Consumer 52

Finextra

FEBRUARY 13, 2024

The FCA recently unveiled new consumer protection guidelines that signal a major shift in credit dat.

Consumer 52

Consumer Consumer Protection 52

The Paypers

JULY 16, 2024

Poland's antitrust and consumer protection authority, UOKiK , has fined PayPal Europe USD 27.3 million for inadequately detailing activities subject to penalties in its contractual clauses.

PayPal 36

PayPal Consumer Protection Authorization Consumer 36

Neopay

AUGUST 15, 2024

Consumer protection and market integrity: Whether the growing adoption of digital wallets poses any significant risks to consumer protection or market integrity, both now and in the future.

Consumer Protection 52

Consumer Protection Regulations Authorization Assessments 52

Neopay

MARCH 22, 2024

Rathi emphasised the FCA’s commitment to supporting the financial sector’s role in the UK’s economic growth while safeguarding consumers and market integrity. The FCA’s strategy revolves around 13 commitments focusing on preventing harm, setting higher standards, and promoting competition.

Consumer Protection 52

Consumer Protection Regulatory Compliance Compliance Regulations 52