PYMNTS

JANUARY 23, 2020

Parliament’s Internal Market and Consumer Protection Committee issued a resolution Thursday (Jan. The committee said that humans must “ultimately be responsible” for the processes of AI and ADM processes, particularly in fields such as medical, legal and accounting.

Consumer Protection 52

Consumer Protection AI Automation Consumer 52

Fintech News

FEBRUARY 21, 2024

The Indonesian Financial Services Authority (OJK) is closely monitoring Investree , a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. The company had earmarked US$4.5 An additional US$1.15

Law Enforcement 116

Law Enforcement Audit Authorization Consumer Protection 116

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

Regulations 57

Regulations Cryptocurrency Digital Currency Rules 57

Clearly Payments

OCTOBER 30, 2024

Overview of International Payment Processing At its core, international payment processing involves handling transactions across borders , where factors like currency conversion, payment method preferences, and local regulations come into play. As global online shopping grows rapidly, consumers expect seamless payment experiences.

International Payments 83

International Payments Process Multi-Currency Cross-Border 83

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. Regulation F affects everything from debtor communication to multi-state compliance. What is the FDCPA?

Regulations 52

Regulations Consumer Financial Protection Bureau (CFPB) CFPB Rules 52

Open Banking Excellence

OCTOBER 6, 2023

Your guide to the Consumer Financial Protection Bureau's (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world.

Consumer Financial Protection Bureau (CFPB) 130

Consumer Financial Protection Bureau (CFPB) Rules CFPB Finance 130

Fintech Finance

SEPTEMBER 24, 2024

These cover financial crime, regulation, open banking, ESG, cross-border payments, digital currencies and financial inclusion. Regulations and regulators are central to an effective payments ecosystem, so The Payments Association advocates for a balance between innovation, competition and consumer protection.

Cross-Border Payments 95

Cross-Border Payments Financial Inclusion Cross-Border Payments 95

The Payments Association

NOVEMBER 13, 2024

Chief among these is the current patchwork of regulations governing blockchain and digital assets worldwide. Legal certainty around the globe and between jurisdictions will embolden innovators, reassure traditional stakeholders, and exponentially grow the already underway revolution.

Blockchain 88

Blockchain Use Case Financial Inclusion Stablecoins 88

Fintech News

FEBRUARY 21, 2024

Singapore’s approach to cryptocurrency regulation in 2023 exemplifies the proactive and stringent measures adopted globally to curb crypto crimes. Under the PSA, DPT service providers must obtain a license from MAS and comply with strict standards related to anti-money laundering, consumer protection, cybersecurity, and governance.

Crime 108

Crime Ransomware Scams Stablecoins 108

The Fintech Times

MAY 11, 2024

A refreshing sentiment that stands in stark contrast to the usual grumblings elsewhere that regulations hinder innovation. In Dubai, stakeholders view regulations as a catalyst for growth and success, providing a sturdy foundation that drives the thriving developments in the fintech sector.

Regulations 59

Regulations FinTech Innovation Authorization 59

Stax

JANUARY 15, 2024

Failure to comply with its policy frameworks can have severe consequences— legally and financially. Surcharging involves understanding federal laws, state-specific restrictions, and international regulations. Be sure to understand federal laws, state regulations, and international standards to sidestep potential legal issues.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

Stax

FEBRUARY 5, 2024

TL;DR Surcharges are additional fees consumers pay on top of the base price of goods or services. They can be variable or fixed, depending on company policy, industry standards, and local regulations. Surcharges are additional fees consumers pay on top of the base price of goods or services. Consumer protection laws.

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

Clearly Payments

SEPTEMBER 18, 2024

It acts as a consumer protection tool, allowing customers to reclaim funds for unauthorized transactions, fraud, or dissatisfaction with goods or services. A well-organized chargeback team minimizes these risks and protects the merchant’s bottom line.

Disputes 95

Disputes Fraud Prevention Payments Credit Cards 95

Fintech News

DECEMBER 9, 2024

However, this embrace of the new is not without a cautious side, as Singapore carefully balances innovation with robust regulation and consumer protection. Morgan, MUFG, and Societe Generale-FORGE , have been leading efforts to define the business, governance, risk, legal, and technology requirements of the GL1 Platform.

Cryptocurrency 106

Cryptocurrency Cross-Border Facilitators Consumer Protection 106

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.

Regulations 40

Regulations Laws Underwriting Caps 40

PYMNTS

SEPTEMBER 9, 2016

consumers file a £14 billion legal claim against the company over anticompetitive card fees. According to the BBC , the lawsuit has to do with a 2014 ruling by the European Court of Justice, which found regulators were correct to condemn the cost of interchange fees — the fees retailers pay banks to process credit card transactions.

Legal 40

Legal Visa Rules Consumer Protection 40

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 97

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

PYMNTS

MAY 22, 2020

The agency also contends that the defendants did not make the loan disclosures they were mandated to provide, conducted recurring withdrawals from the bank accounts of consumers without correct permission, and “illegally” utilized checks created remotely. The defendants named in the matter include Camel Coins, Inc.; Lead Express, Inc.;

FTC 79

FTC Federal Trade Commission Consumer Protection Funds Transfer 79

Stax

DECEMBER 2, 2024

In parallel with growing market adoption of surcharging, more states have considered and enacted surcharging legislation, often with the stated goal of standardizing surcharging and ensuring consumer protection. In 2024 alone, more than a dozen state legislatures introduced bills related to surcharging and consumer fees generally.

Junk Fees 68

Junk Fees Credit Cards Push-to-Card Laws 68

PYMNTS

JANUARY 29, 2019

For payments and commerce , there’s another uncertainty that hangs in the air: Will legal online sports betting keep going forward, despite a recent decision by the U.S. In May 2018, the Supreme Court struck down a 1992 law passed by Congress that made it illegal for most states to legalize sports betting within their borders.

Wires 67

Wires Wire Fraud Prevention Legal 67

PYMNTS

MAY 8, 2019

Federal Trade Commission (FTC) is eyeing tighter scrutiny of small business lending practices as Commissioner Rohit Chopra calls on the regulator to combat predatory SMB loan contracts, reports in Bloomberg said on Wednesday (May 8). Chopra spoke at an agency forum in Washington, D.C.,

FTC 60

FTC Federal Trade Commission Small Business Regulations 60

Segpay

MAY 1, 2024

DORA entered into force on January 16th, 2023, and its legal implementation deadline is January 17 th , 2025. The Act will help regulators to identify and investigate financial crime more effectively. These risks can have legal, financial, reputational, and operational consequences for the PSP.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

PYMNTS

DECEMBER 27, 2019

The Libra project is currently seeking regulatory consent in the country, and it has been scrutinized by other regulators around the world, with some countries like Germany and France flat out saying they will not allow it. “I The project, in this form, has thus failed.”.

Digital Currency 52

Digital Currency Stablecoins Agreements Regulations 52

Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. BNPL in US, UK, and EU Regulators’ Sights The Consumer Financial Protection Bureau (CFPB) has been actively monitoring BNPL activity in the consumer finance marketplace for some time now.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

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

JANUARY 10, 2019

The court said the Dash buttons, which are small, Wi-Fi-connected devices that reorder items like laundry detergent and coffee, breaks consumer protection legislation because it doesn’t give consumers enough information about the product or its price. 10), according to a report from Reuters.

Laws 57

Laws Consumer Consumer Protection Rules 57

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. These changes are driven by a rise in consumer complaints and insolvencies in the payments sector. However, there are numerous issues due to poor compliance.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Stax

DECEMBER 13, 2023

Fortunately, in states where surcharging is legal, you can recoup these processing costs by transferring them to the cardholder. 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.

Credit Cards 88

Credit Cards Debit Card Laws Rules 88

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

FEBRUARY 15, 2018

In an interview with PYMNTS, Charles Clark, acting deputy director of the Washington State Department of Financial Institutions, said there had been complaints by industry participants about the differing legal requirements of getting licensed in each individual state as a money transmitter, especially in terms of disparate procedures.

Regulations 40

Regulations FinTech Cryptocurrency Bitcoin 40

Segpay

DECEMBER 13, 2024

The rise of data privacy concerns has led to a surge in global regulations, such as the EU General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), which are drafted to protect peoples individual data protection rights.

Privacy 59

Privacy Compliance CCPA Authentication 59

PYMNTS

MAY 1, 2017

In addition to Brill’s former government experience, Brill served in North Carolina and Vermont’s Department of Justice in their Consumer Protection and Antitrust divisions.

FTC 43

FTC Privacy Consumer Protection Legal 43

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.

Community Banks 59

Community Banks Consumer Protection Regulatory Compliance FinTech 59

Fintech Finance

SEPTEMBER 20, 2024

At the time, The Payments Association praised the regulator for seeing the societal benefit of this change and listening to the payments sector regarding its concerns, while stating its intention to continue to push for a threshold of £30,000. This is not enough to ensure robust consumer protection.

Financial Crimes 98

Financial Crimes Crime Rules Payments 98

Segpay

JULY 23, 2024

acquirers, they are now rejecting opt-out cross sales or negative options on payment pages due to regulatory concerns, primarily driven by consumer protection legislation, pressure from the card brands to lower dispute rates, and the threat of legal action. .” In talking with our U.S.

FTC 89

FTC Payments Federal Trade Commission Push-to-Card 89

Segpay

OCTOBER 4, 2023

Affiliate marketing is often considered high-risk from a compliance perspective due to several factors that can increase the likelihood of regulatory and legal issues. Such practices can lead to legal and regulatory challenges, particularly if consumers are harmed or misled. Non-compliance can result in fines and legal action.

Security 52

Security Due Diligence Compliance Payments 52

PYMNTS

NOVEMBER 5, 2018

The latest changes proposed by the Fed come on the heels of the May 2018 passage of the Economic Growth, Regulatory Relief and Consumer Protection Act, which in turn scaled back a number of financial regulations introduced a decade ago in the aftermath of the 2008 Financial Crisis. PSD2 News, Too.

Fed 51

Fed Federal Reserve Regs Rules 51