The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

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BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

PYMNTS

AUGUST 30, 2016

The small nation is making a big push in support of FinTech innovation by reforming its payment laws. Singapore is preparing for a FinTech revolution. “It would also give MAS the flexibility to address emerging risks, such as cybersecurity, interoperability, technology and money laundering and terrorism financing. .

Laws 47

Laws FinTech Money Laundering Interoperability 47

PYMNTS

AUGUST 30, 2016

The small nation is making a big push in support of FinTech innovation by reforming its payment laws. Singapore is preparing for a FinTech revolution. “It would also give MAS the flexibility to address emerging risks such as cyber security, interoperability, technology, and money laundering and terrorism financing. .

Laws 40

Laws FinTech Money Laundering Interoperability 40

Stax

DECEMBER 13, 2023

However, you must keep in mind several federal and state laws as well as credit card network guidelines (e.g. Surcharging rules Surcharge laws and guidelines can vary from state to state. Plus, there are federal laws governing surcharges. Visa, Mastercard, American Express, Discover, etc.)

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Credit Cards Debit Card Laws Rules 88

The Fintech Times

SEPTEMBER 4, 2024

The regulator defended the reduced threshold as maintaining strong consumer protections while addressing concerns from financial firms. Consumer protection is at the centre of our proposal. We never contested the principle of reimbursement, and we never will.

Regulations 59

Regulations Scams Payments Caps 59

PYMNTS

MAY 19, 2020

The FTC alleged that First Data ignored repeated warnings from employees, lenders and others that Chi “Vincent” Ko, who ran an independent sales organization affiliated with the company, was laundering payments for clients that were breaking the law.

FTC 66

FTC ISOs Federal Trade Commission Credit Cards 66

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.

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Rules Law Enforcement Laws Regulations 73

The Fintech Times

FEBRUARY 3, 2024

This gives some clarity to the industry, suggesting that should a Labour government come to power, many of the initiatives already in motion, to unlock capital and to bring about consolidation, would continue. A Labour government will work with regulators and industry to develop the roadmap for open finance.

Finance 59

Finance FinTech Regulations Financial Inclusion 59

Stax

FEBRUARY 5, 2024

This surcharge covers costs associated with adopting and maintaining government-mandated sustainable practices. Governments impose regulations to protect the public’s interests and promote fair corporate practices. State and federal laws. Surcharging laws vary by jurisdiction. Consumer protection laws.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Segpay

MAY 1, 2024

This involves establishing incident response teams, implementing incident detection and monitoring mechanisms, and coordinating with relevant stakeholders, including regulatory authorities and law enforcement agencies. Contracts: DORA sets rules for contractual standards when outsourcing to critical ICT third-party providers (CTTPs).

Compliance 52

Compliance Cybersecurity Procedures Risk Management 52

PYMNTS

MARCH 29, 2019

At Google, he pointed to its role in online ads as an antitrust and consumer protection concern. Attorneys general have teamed up to investigate if Google ran afoul of any antitrust or consumer protection laws, while the FTC is looking into the Cambridge Analytica issue at Facebook. Landry said.

FTC 46

FTC Federal Trade Commission Consumer Protection Consulting 46

PYMNTS

APRIL 22, 2020

Others pretend to be government agencies or public health organizations designed to trick viewers into entering banking and credit card information. Disrupting internet-based fraud schemes is an important part of our effort to protect consumers from financial loss and health-related harms.”.

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Scams Federal Trade Commission Law Enforcement Phishing 69

PYMNTS

NOVEMBER 10, 2019

Current antitrust laws are “flexible enough” to handle issues caused by technology firms, said Makan Delrahim, assistant attorney general for the Antitrust Division of the U.S. government was working with state attorneys general to probe online platforms for possible antitrust violations. It was first announced in August that the U.S.

Federal Trade Commission 40

Federal Trade Commission Laws FTC Privacy 40

PYMNTS

MAY 28, 2019

According to the news outlet, law enforcement’s initiatives are “an unprecedented level of government attention” for the sector, which has evaded regulators by classifying merchant cash advances as non-loans and, therefore, exempt from personal loan protections under state and federal law.

FTC 56

FTC Federal Trade Commission Law Enforcement Small Business 56

PYMNTS

OCTOBER 5, 2020

California Assembly Bill 5 ( AB5 ) — and its now famed (and feared) three-part test as to whether a worker could be classified as an independent contractor or must by law be classified as an employee — has been a magnet for controversy almost since day one. As Turner said, labor laws are still rooted in a time when the U.S.

Laws 76

Laws Economy On-Demand Legal 76

PYMNTS

OCTOBER 24, 2019

The Kenyan National Assembly is considering a law that would make mobile lenders in the country subject to central bank oversight, which would force them to reveal transactions fees and interest rates before they dole out loans. There is need for consumer protection. These mobile loan apps have commercialized poverty.”.

Regulations 40

Regulations Central Bank Money Laundering Small Business 40

PYMNTS

FEBRUARY 3, 2020

The creation of a “single European data space, a genuine single market for data” would include new rules governing cross-border use and data interoperability, among other tenets. Separately, the movement by at least some central governments to embrace digital currencies continues. Digital Currencies, Too.

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Consumer Financial Protection Bureau (CFPB) CFPB Digital Currency Central Bank 52

PYMNTS

DECEMBER 4, 2019

In order to help FinTechs adhere to fair-lending laws, the Government Accountability Office wants regulators to explain their position on applying alternative data. Consumer advocates have raised concerns that assessing alternative data could lead to discrimination and widen the credit gap.

Assessments 54

Assessments Regulations Federal Reserve Consumer Protection 54

Global Fintech & Digital Assets

NOVEMBER 1, 2023

The FCA recently highlighted that we are reaching a tipping point whereby the UK government and sectoral regulators need to decide how to regulate and oversee the use of AI. What is the UK government’s approach to AI?

AI 52

AI Regulations Financial Crimes Governance 52

PYMNTS

OCTOBER 5, 2020

California Assembly Bill 5 ( AB5 ) — and its now famed (and feared) three-part test as to whether a worker could be classified as an independent contractor or must by law be classified as an employee — has been a magnet for controversy almost since day one. As Turner said, labor laws are still rooted in a time when the U.S.

Laws 56

Laws Economy On-Demand Legal 56

Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). This federal law, known as Regulation F goes into effect on November 30, 2021. In total, these laws were in the works for more than five years. What is Regulation F?

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

PYMNTS

MAY 20, 2016

Lending Club, for its part, said that it plans to cooperate with the DFS investigation, which also looks for information on underwriting and other business procedures and how these myriad practices square with consumer protection laws and laws governing fair business practices.

Regulations 40

Regulations Laws Underwriting Caps 40

PYMNTS

SEPTEMBER 30, 2016

The small nation made a push in support of FinTech innovation by reforming its payment laws. .” Alfred noted that Singapore’s flourishing FinTech space can stand to benefit from the challenges being faced in other global markets. Last month, Singapore took a big step in preparation for its own FinTech revolution.

FinTech 76

FinTech Money Laundering Interoperability Authorization 76

PYMNTS

SEPTEMBER 26, 2018

25) criticized top banks in the country for what authorities called inadequate reporting of breaches of financial law. Regulators probed the banks’ breaches of law in a review scrutinizing operations between 2014 and 2017, according to reports. Australian regulators on Tuesday (Sept. Those breaches resulted in $361.9

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Breach Regs Non-Bank Regulations 43

PYMNTS

APRIL 20, 2020

To stem the wave of economic devastations wrought by the full economic shutdown, the federal government has in the last several months passed over $2 trillion in stimulus funds to be injected into the economy in various ways. Considered the easiest and lowest-impact option, that is the gold-medal standard among consumer protection advocates.

Consumer 56

Consumer Underwriting Economy Laws 56

PYMNTS

MAY 30, 2018

The Economic Growth, Regulatory Relief and Consumer Protection Act loosened some of the regulations on small financial institutions, including community banks whose customers included many small businesses. That marks the fifth year that the government has hit the 23 percent goal set by Congress.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

FICO

JANUARY 13, 2020

Forty-two years after the enactment of the Fair Debt Collections Practices Act, the CFPB proposed the first set of rules governing third-party debt collection activities. The FCC will issue updated interpretations of the Telephone Consumer Protection Act in 2020. email and texts).

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AML Authentication Finance OCC 52

PYMNTS

NOVEMBER 5, 2018

Roughly a decade on, is it time to remove some of the rules governing the financial sector that took shape in the aftermath of the Financial Crisis of 2008? To that end, the Federal Reserve proposed last week that some rules be relaxed for 16 financial institutions — though the largest banks in the country are not among them. PSD2 News, Too.

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Fed Federal Reserve Regs Rules 51

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. The controversial U.S.

CFPB 48

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

PYMNTS

JANUARY 16, 2018

The Kansas businessman – facing a 2017 conviction for violating federal truth in lending and racketeering laws in connection with his online lending business – attempted to apologize for the $3.5 According to Reuters, it served to convince the judge that Tucker had not really accepted that his actions were against the law.

Laws 47

Laws Regulations CFPB On-Demand 47

PYMNTS

JULY 30, 2018

Reuters reported the government would move to offer incentives to store data locally in India. ” The draft also said the government would have access to the data stored in India. . ” The draft also said the government would have access to the data stored in India.

Privacy 40

Privacy Governance Government Adjustments 40

PYMNTS

NOVEMBER 24, 2020

Digital identification has become critical to healthcare during this time, especially as consumers’ own perceptions of online privacy continue to shift. Providers need to stay aware of how advancing regulations — such as California’s CPPA, the strictest data protection law in the U.S. — I applaud it. …

Privacy 64

Privacy Regulations CCPA Rules 64

PYMNTS

APRIL 28, 2016

Last month, it began soliciting consumer complaints about marketplace lending, writing in a notice to consumers that marketplace lending “does not have the same history of government supervision and oversight as” traditional banks and credit unions. Many are also bound to reporting requirements with the SEC.

CFPB 40

CFPB Consumer Protection Regulatory Compliance FTC 40

Electronic Payments Coalition

MARCH 26, 2024

These rules will maintain core consumer protections and transparency, replacing standards that had been updated in 2012. The class is represented by Steve Shadowen of Hilliard Shadowen LLP; Robert Eisler of Grant & Eisenhofer PA; Michael Freed of Freed Kanner London & Millen LLC; and Linda Nussbaum of Nussbaum Law Group, P.C.

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Agreements Payment Networks Settlement Credit Cards 52

FICO

MARCH 31, 2016

Successful customer communications through the use of modern technology has been elusive in the United States in the shadow of an outdated 1991 law – The Telephone Consumer Protection Act (TCPA).

Regulatory Compliance 49

Regulatory Compliance Best Practices Compliance Financial Crimes 49

PYMNTS

MAY 13, 2016

The point: to ensure laws and regulation would not negatively impact innovation. Current CFTC Commissioner Chris Giancarlo recently (and rightly) called for such protection for digital currency. But what this little town, Zug (that is its real name), is testing out is how it can use bitcoin payments for government services.

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Bitcoin Digital Currency Blockchain Regulations 45

PYMNTS

NOVEMBER 15, 2019

With those as a starting point, and with the help of an outside law firm, TCH created the model contract. The agreement was developed to be consistent with the CFPB’s Consumer Protection Principles, focused on data sharing and aggregation, he explained.

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TCH Agreements API FinTech 64