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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

Visa did not immediately respond to a request for comment on the filing. The patent application indicates that Visa would deploy the system in partnership with government central banks, which it referred to as “central entities” in the filing. A central entity may be associated with a government of such a region.”.

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US Probes Hack Of Treasury, Commerce Department

PYMNTS

Attacks by hackers linked to the Russian government against the U.S. National Security Council spokesman John Ullyot reportedly told Reuters: "The United States government is aware of these reports and we are taking all necessary steps to identify and remedy any possible issues related to this situation.".

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Biden Eyes Leaders With TIAA, Facebook And Google Ties For Economic Team

PYMNTS

CNBC stated that a Biden transition spokesman did not respond to a request for comment about the potential nominations and that Biden is expected to announce economic appointments soon. Government officials also have shown interest in injecting the federal government directly into the credit reporting and instant payments spaces.

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AFC Praises New BNPL Recommendations, But Warns That Providers Need ‘Additional Time’ to Comply

The Fintech Times

Now, the American Fintech Council has submitted its own response to the CFPB’s request for comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans. In a letter , it applauded the CFPB for its 2022 report on BNPL and its continued engagement with industry leaders.

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Mnuchin Now Says All PPP Loan Recipients Will Face Audits

PYMNTS

As reported Tuesday (April 28), Mnuchin told CNBC the government will perform a full audit on any company that borrowed more than $2 million from PPP being overseen by the Small Business Administration (SBA) would face full audits, with spot checks for smaller amounts. The SBA didn’t respond to requests for comment, the WSJ reported.

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DOJ Antitrust Lawsuit Against Facebook No Slam Dunk

PYMNTS

A 14-page report Facebook lawyers prepared in advance of a potential antitrust lawsuit from the government found such action would hurt users, be contrary to established law and cost billions of dollars, WSJ reported after seeing the document. The FTC didn’t immediately respond to a WSJ request for comment.

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Facebook And Google Opt Into Berners-Lee Data Privacy ‘Contract’

PYMNTS

A report published with the contract revealed that nearly 60 companies, governments and business leaders have signed up for the contract, including Facebook, Google, the French government and billionaire Richard Branson. Amazon , which was named in the report, has not signed up and did not immediately respond to a request for comment.

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