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MAS Weighs In on Allianz-Income Deal, Focus on Consumer Protection

Fintech News

Former NTUC Income CEO Tan Suee Chieh raised corporate governance issues and expressed concern over the potential erosion of NTUC Income’s social mission in light of its sale to Allianz in an open letter to the Monetary Authority of Singapore (MAS).

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Buy Now, Pay Later to Be Regulated Like Other Credit Products in Australia

Fintech News

Australia will introduce new legislation to amend the Credit Act, requiring Buy Now, Pay Later (BNPL) providers to hold an Australian credit license and comply with existing credit laws regulated by the Australian Securities and Investments Commission (ASIC). The new laws aim to balance consumer protection with innovation and competition.

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Indonesia’s OJK Issues New Regulation on Alternative Credit Scoring

Fintech News

The Financial Services Authority ( OJK ) of Indonesia has issued a new regulation to govern Alternative Credit Ratings (PKA), also known as Innovative Credit Scoring (ICS). The regulation outlines the framework for PKA operations, including institutional requirements, governance, data security, and consumer protection.

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Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs

The Payments Association

The introduction of the Digital Assets Bill and the Financial Conduct Authority (FCA)s ongoing efforts to regulate cryptoassets demonstrates the regulator’s intentions to further define just how digital assets are governed and traded. This could slow innovation and hike costs.

Legal 88
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Merchants Ready For Open Banking — And Its New Laws — To Impact US Rollout

PYMNTS

regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”. For example, the government-backed Unified Payments Interface is one of India’s most popular eCommerce payment methods. Don’t let the lack of hard law in the U.S.

Laws 68
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OJK Plans to Raise P2P Funding Limit for Business Loans

Fintech News

OJK acknowledges the valuable input from these stakeholders and is refining the LPBBTI industry regulations as part of its mandate under Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK).

P2P 82
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Singapore Reforms Laws For FinTech Push

PYMNTS

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