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

Breach 43

Breach Regs Non-Bank Regulations 43

PYMNTS

MARCH 18, 2019

When asked why a federal “ceiling” might not be an optimal way to address data-focused concerns, Kurtzke said, “The risk that a federal ceiling poses is preempting any state action to make the laws tougher. Here’s a mortgage analogy. financial crisis.”.

Privacy 49

Privacy Regs Identity Theft Data Breach 49

PYMNTS

SEPTEMBER 12, 2016

“Electronic platforms facilitating fundraising on digital platforms are neither authorized nor recognized under any law governing the securities market,” the note stated. In its notice, SEBI has reportedly told Grex Alternative Investments Market to stop “onboarding” new investors.

Regs 74

Regs Federal Reserve Legal Regulations 74

PYMNTS

OCTOBER 26, 2018

“Common sense and the law tell us that a non-bank is not a bank,” said CSBS President and CEO John Ryan in a statement announcing the suit. The body of U.S. state bank regulators said it filed a complaint in the U.S. “Thus, CSBS is calling on the courts to stop the unlawful, unwarranted expansion of powers by the OCC.”

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

SEPTEMBER 5, 2019

Colombian regulators have demanded that delivery app Rappi comply with electronic commerce laws, and has also launched an investigation into the app after receiving hundreds of customer complaints. Founded in 2015, Colombian startup Rappi employs bike-riding couriers to deliver everything from grocery orders to diapers all around the region.

Regs 46

Regs Regulations Legal Laws 46

PYMNTS

SEPTEMBER 30, 2019

“Currently, there is no obligation under EU law, for a search engine operator who grants a request for de-referencing made by a data subject … to carry out such a de-referencing on all the versions of its search engine,” the European Court of Justice ruling said.

Regs 53

Regs Privacy Regulations Rules 53

PYMNTS

AUGUST 16, 2018

The release of the report tops off nearly a week of NAB officials being grilled by the Royal Commission as officials questioned the FI over breach of superannuation law. Officials also accuse NAB of misleading and deceiving customers, and of committing criminal breaches of reporting laws.

Regs 40

Regs Small Business Breach Laws 40

PYMNTS

DECEMBER 21, 2018

introduced the “Token Taxonomy Act,” which would not only redefine “digital token,” but ensure that securities laws would not apply to cryptocurrencies that have become a fully functioning network. Warren Davidson (R-Ohio) and Darren Soto (D-Fla.)

Regs 70

Regs Federal Trade Commission Bitcoin Debit Card 70

PYMNTS

SEPTEMBER 2, 2019

The Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act is one legislative initiative under consideration that would ban anonymous companies. The FIN testimony also recommended that legislation gets passed that bans anonymous companies.

Regs 49

Regs BSA Legal Framework Cryptocurrency 49

PYMNTS

MAY 16, 2018

Soon, however, the payments industry will be able to tap into that market legally, thanks to a recent decision by the Supreme Court to axe a federal law that prohibited gambling on sports in most U.S. Around 20 states have already passed laws or have pending legislation around online gaming and sports wagering.

Regs 40

Regs Legal Disputes Laws 40

PYMNTS

JULY 16, 2018

… The purpose of such a commission should include advice to Congress on what types of new laws and regulations are needed, as well as stronger practices to ensure proper congressional oversight of this technology across the executive branch.”.

Privacy 40

Privacy Rules Regs Money Laundering 40

PYMNTS

AUGUST 22, 2019

The securities laws require promoters, including both people and entities, to disclose compensation they receive for touting investments so that potential investors are aware they are viewing a paid promotional item,” Melissa Hodgman, associate director of the SEC’s Enforcement Division, said in a press release.

Bitcoin 46

Bitcoin Regs Regulations Blockchain 46

PYMNTS

AUGUST 22, 2019

The securities laws require promoters, including both people and entities, to disclose compensation they receive for touting investments so that potential investors are aware they are viewing a paid promotional item,” Melissa Hodgman, associate director of the SEC’s Enforcement Division, said in a press release.

Bitcoin 46

Bitcoin Regs Regulations Blockchain 46

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. As the risk of noncompliance evolves and grows for corporates, many turn to technology to ensure adherence to complex regulatory demands.

Regs 40

Regs B2B Consulting Compliance 40

PYMNTS

JUNE 9, 2020

Equifax is partnering with the reg HooYu to provide its users with AML/KYC-compliant digital onboarding services, for example. Digital real estate closings have been available for years, but state laws have required that notary processes be done in-person and by submitting paper documents.

AML 78

AML Verification Regs Money Laundering 78

PYMNTS

JULY 24, 2020

Brazil and Mexico particularly have gotten out in front of open banking regs, as they strive to create good growth conditions for finicky FinTechs that tend to wilt if overly boxed-in. Similarities To The EU.

Online and Mobile Banking 67

Online and Mobile Banking Regs Regulations Cross-Border 67

PYMNTS

DECEMBER 28, 2020

The attorneys general of 10 states, including Texas Attorney General Ken Paxton , sued Google “under federal and state antitrust laws and deceptive trade practices,” according to a complaint filed in federal court in Texas. State Attorneys General Sue Google Over ‘Exclusionary Tactics’.

Compliance 59

Compliance Privacy Regs Agreements 59

PYMNTS

NOVEMBER 5, 2018

Reg Oversight on Chinese Financial Firms to Broaden? In the realm of PSD2, the National Law Review and other legal publications reported last week that the Dutch Supervisory Authority has adopted guidelines tied to the Payment Service Directive. The Fed is inviting public comment on the regulatory changes through January of 2019.

Fed 51

Fed Federal Reserve Regs Rules 51

PYMNTS

JULY 26, 2019

Nevada Marijuana Dispensary Uses Food Trucks to Sidestep Cards Regs. Among the main stories in payments in recent months has been the increasing push to reform federal banking laws so that legal cannabis retailers can move away from their cash-based businesses and further into the world of the digital payments. PYMNTS digs deep.

Push-to-Card 43

Push-to-Card Regs Cross-Border PayPal 43

PYMNTS

MAY 26, 2016

Those services launched into virgin territory in terms of regulation — businesses of this kind had never quite existed before — and so the rules and regs in place did not quite manage to directly address them. The law also would have banned pickups from occurring in traffic lanes.

On-Demand 40

On-Demand Regulations Economy Laws 40

PYMNTS

APRIL 12, 2017

Years in the making, the regulation was born from the JOBS Act, which was signed into law in 2012, with Title IV of the act — also known as Regulation A+ — enabling average joes to invest in companies seeking capital. Until that spigot dries up, there’s not much incentive to be an early adopter of Reg.

Small Business 41

Small Business Regulations Regs Accreditation 41

PYMNTS

FEBRUARY 18, 2019

GDPR, of course, is the EU’s General Data Protection Regulation , an online privacy law that serves as another source of tension in that relationship between U.S. They must also disclose what data they collect, and how they use it — and in particular how such data is shared with other business partners they have.

Regs 58

Regs Rules Regulations Privacy 58

PYMNTS

DECEMBER 21, 2020

Big Tech Could Face Penalties Under Potential UK Law on Illicit Content. We are entering a new age of accountability for tech to protect children and vulnerable users, to restore trust in this industry, and to enshrine in law safeguards for free speech,” said British Digital Secretary Oliver Dowden , per Reuters. Facebook’s U.K.

Privacy 57

Privacy Agreements Federal Trade Commission Regs 57

PYMNTS

NOVEMBER 11, 2020

Essentially, the new rules update the old antimonopoly laws which were passed in 2008. For example, the definition of “relative market” means that companies in a “dominant position” if they control more than 50 percent of the market would come under the new regulations.

Regs 95

Regs NOV Law Enforcement Economy 95

PYMNTS

APRIL 8, 2016

Making matters worse, there was no window given for time to comply; the regs went into effect immediately. There is a consensus among analysts and Indian Internet experts that, despite the immediate effect of the laws, enforcement is not expected immediately, and it remains unclear what the penalties for violations will be.

Law Enforcement 41

Law Enforcement Regs Rules Laws 41

Fintech Labs Insights

MARCH 7, 2017

The company’s backend solutions cover AML, escrow, and payment processing, enabling broker-dealers, listing services, and platforms to remain compliant to relevant laws and regulations, such as Reg A+ and rule 4(a)(6), when operating their crowdfunding business.

Regs 17

Regs Payment APIs and Integration API AML 17

PYMNTS

DECEMBER 17, 2016

Nick Bourke from the Pew Charitable Trusts’ consumer banking project is similarly aggrieved, noting the laws as written will mostly succeed in closing some lenders, letting others carry on with triple-digit interest rates and making it harder for consumers to get loans — because the new regs rein in payday lenders while offering no constructive steps (..)

Bots 40

Bots CFPB Consumer Financial Protection Bureau (CFPB) Push-to-Card 40

PYMNTS

MAY 16, 2017

The timing of how those rules went into effect — and the fact that they were mildly controversial, particularly in regards to the overdraft regulations — meant that it had seemed possible that Congress would exercise its authority under the CRA to repeal the law — but doing was subject to a ticking clock.

Rules 40

Rules CFPB Regs Authorization 40

CB Insights

OCTOBER 31, 2017

A notice sent to creditors said Jawbone entered into insolvency proceedings under California law on June 19. Many employees of Jawbone moved to the new firm earlier this year, the person said. Jawbone Health will service Jawbone’s devices going forward, said the person. A company has been set up to liquidate Jawbone’s assets.

Posting 78

Posting Product Online and Mobile Banking On-Demand 78

PYMNTS

FEBRUARY 17, 2017

The regs at issue surround the Suspicious Activity Report, which bank employees are required by federal law to file if they suspect transactions could be part of a crime. companies as much as $8 billion a year to stay on the right side of the regs.

Money Laundering 40

Money Laundering Regulations Regs Fincen 40