PYMNTS

APRIL 1, 2020

Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. In our view, this required a legal floor of responsibility, governed by the rule of law,” Smith said.

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Finextra

SEPTEMBER 6, 2024

The US Federal Deposit Insurance Corporation (FDIC) is looking at plans to protect customers from fintech failures, reports Bloomberg Law.

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Payment Savvy

MAY 11, 2023

Visa has a set of rules and regulations that govern the use of its payment network, and these rules and regulations are subject to change from time to time. In this article, we will discuss the recent visa rule changes and how they impact you. Merchants who accept Visa payments must comply with the Visa merchant rules.

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Fintech Finance

JULY 19, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. When the paycheck advance product is no-fee and truly free to the employee, many requirements would not apply.

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PYMNTS

DECEMBER 18, 2020

Treasury Department proposed sweeping new rules late Friday (Dec. The rules effectively require financial institutions to report such digital transactions in much the same way they have been required to report cash transactions since 1970. The comment period ends Jan. 4, according to the official Federal Register posting.

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Finextra

SEPTEMBER 6, 2024

UK, US and EU among the signatories on the Council of Europe’s Framework Convention on artificial intelligence and human rights, democracy, and the rule of law.

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PYMNTS

SEPTEMBER 9, 2019

The law in question is Assembly Bill 5, a measure that would reclassify many gig workers in the state – Uber and Lyft drivers in particular – as regular W-2 employees instead of as 1099 independent contractors (their current designation). This law directly affects the ability of that individual to even exist in the marketplace,” he said.

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Global Fintech & Digital Assets

OCTOBER 31, 2023

Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. Market participants should therefore evaluate their path to compliance with the law as enacted, but should also expect further refinements from the DFPI in the coming 18 months.

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NFCW

NOVEMBER 27, 2023

The CFPB’s proposed rule would apply to larger non-bank digital consumer payment companies handling more than 5m transactions a year that “blur the traditional lines that have separated banking and payments from commercial activities”.

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Fintech News

DECEMBER 18, 2023

However, a small proportion of recent remittances faced freezes by Chinese law enforcement agencies, with unclear reasons behind these actions. In most cases, these transactions are successfully deposited into the recipients’ Chinese bank accounts. Approximately 430 reports were against Samlit Moneychanger.

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PYMNTS

DECEMBER 30, 2020

Uber trips will jump 24 percent in cost starting in the new year in Seattle, with the rideshare company raising prices to accommodate a new law requiring drivers be paid the city's minimum wage, GeekWire reported. minimum wage in 2021. That means the rideshare companies will have to pay their drivers at least $0.56

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PYMNTS

DECEMBER 21, 2020

Russia's federal anti-monopoly service (FAS) has accused Booking.com of reportedly violating antitrust laws in the country and abusing a dominant market position, according to Reuters Monday (Dec. Under Russia's anti-monopoly law, the company could face a fine of around 1 percent to 15 percent of its annual revenue generated in the country.

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Neopay

DECEMBER 18, 2023

The FCA has proposed new rules to maintain reasonable access to cash for personal and business customers across the UK. However, the rules will have an impact where branches are a key local source of cash. The FCA will ensure these rules work in harmony with its existing guidance on bank branch closures.

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PYMNTS

DECEMBER 10, 2020

Twitter, Mozilla, Automatic and Vimeo said in an open letter that these new rules “will either renew the promise of the Open Internet or compound a problematic status quo – by limiting our online environment to a few dominant gatekeepers, while failing to meaningfully address the challenges preventing the internet from realizing its potential.”.

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The Paypers

FEBRUARY 25, 2022

The National Bank of Ukraine has issued new rules outing how banks will operate after the Martial Law declaration on 24 February 2022.

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PYMNTS

JANUARY 14, 2020

China is finalizing its first rules for online-only banks, striving to reduce financial jeopardy and lure pivotal participants, Reuters reported on Monday (Jan. About 12 associations, including foreigners, are working on the new laws with Chinese officials, and some are eager to introduce online banks, a source said.

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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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VISTA InfoSec

JULY 17, 2024

Overcoming language barriers and security vulnerabilities Talking to people in a language they understand makes it easier for them to follow security rules. Navigate legal and regulatory frameworks Dealing with laws and rules about cybersecurity in different countries is a must.

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PYMNTS

FEBRUARY 14, 2020

There’s a saying in jurisprudence: Hard cases make bad law. Early this week, a judge denied a request from Uber and Postmates to halt the enforcement of a new California labor law — known as AB5 , which was voted into law last year — that would place new restrictions on gig economy workers. New Economy and Old Laws.

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PYMNTS

NOVEMBER 30, 2020

The British government is establishing a new Digital Markets Unit tasked with enforcing laws that apply to Big Tech companies, such as Google and Facebook , authorities announced in a press release. s Competition and Markets Authority (CMA), the agency that oversees enforcement of antitrust laws.

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PYMNTS

JANUARY 24, 2020

Critics, however, contend that the involvement of both companies in the legislative process is a way to make sure that laws don’t become too burdensome. The agency would have 1,600 officials and would make regulations as well as look to see the imposed privacy rules are being followed. Washington Sen.

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Laws Regulations AI Privacy 91

PYMNTS

MAY 14, 2020

Brian Huseman, a vice president of public policy at Amazon, said in a blog post that each of the nation’s states have different rules when it comes to price gouging. The disparate standards among states present a significant challenge for retailers working to assist law enforcement, protect consumers, and comply with the law,” Huseman wrote.

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The Paypers

JUNE 30, 2023

The UK has passed a bill that gives regulators the power to supervise crypto and stablecoins.

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PYMNTS

NOVEMBER 26, 2020

Thierry Breton , EU's digital chief, says tech giants breaking the bloc's new rules could face fines or more severe punishments like breaking up their European businesses, Reuters reported. Breton is set to present the draft rules, called the Digital Services Act (DSA) and the Digital Markets Act (DMA).

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Rules Regulations Laws Research 71

Innovative Payments Association

JUNE 26, 2024

Regulators are facing a deadline for any new rules that they want to put in place, but that deadline isn’t the election, or even the inauguration of a new president. CRA dates back to 1996, when it became law as part of the Small Business Regulatory Enforcement Fairness Act. 5 U.S.C. § § 804(2).

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Payments Source

MAY 16, 2018

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

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The Payments Association

MARCH 26, 2024

The constantly shifting policy and regulatory landscape is also challenging for crypto businesses to navigate—particularly for firms seeking to operate in the UK where cryptoasset rules remain in flux.

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PYMNTS

SEPTEMBER 10, 2019

An open letter to Congress asking for a consumer data privacy law was signed by 51 CEOs across tech and other industries, CNBC reported on Tuesday (Sept. Executives from the Business Roundtable said in the letter that putting a federal law in place is important and necessary to protect American consumers while also ensuring that the U.S.

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PYMNTS

JANUARY 10, 2019

A court in Germany handed down a harsh ruling about Amazon’s Dash buttons on Thursday (Jan. According to German law, a transaction must provide info on price and characteristics or delivery details. Daniel Widmann, a technology law expert at Pinsent Masons, said in 2016 that this could cause trouble for the company.

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Laws Consumer Consumer Protection Rules 57

PYMNTS

AUGUST 9, 2020

headquartered law firm, Covington and Burling , said India’s proposals are “far-reaching concepts that would have a significant impact on the ability of both Indian and multinational firms to do business in India,” in a note prepared for the USIBC, Reuters reported. companies to invest in India. A Washington, D.C.-headquartered

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The Fintech Times

SEPTEMBER 4, 2024

This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer and safer. Regulatory rules are constantly changing, with new ones being introduced at a rapid rate. .

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PYMNTS

NOVEMBER 26, 2018

Passed in 2008 in Illinois, the Biometric Information Privacy Act is the toughest standard for biometric privacy in the nation, imposing strict rules on how companies can collect data like fingerprints from a person, requiring consent before obtaining the information. This isn’t the first lawsuit surrounding the use of biometrics.

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Laws Privacy Rules Procedures 55

PYMNTS

OCTOBER 14, 2018

Senators John Cornyn and Mark Warner, co-chairs of the Senate India caucus, sent a letter to India’s Prime Minister Narendra Modi urging him to soften his stance on rules that require customer data to be stored locally. senators said in the letter, according to Reuters.

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PYMNTS

DECEMBER 19, 2019

Europe’s highest court ruled that Airbnb is an “information society service” rather than a property broker or estate agent, TechCrunch reported on Thursday (Dec. eCommerce platforms have to abide by regional rules and that could make it harder for Airbnb to do business. . “We

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PYMNTS

JUNE 7, 2019

19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. The CFPB is also correcting several errors in the rule. The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug. Compliance is being delayed 15 months, to Nov.

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PYMNTS

OCTOBER 10, 2019

The United States Federal Reserve has passed new rules which lower the liquidity and capital requirements for most banks, as well as easing other restrictions. The Financial Times is reporting that Federal Reserve Chair Jay Powell announced the new rules on Thursday (Oct. There was a voice of dissent to the decision.

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Rules Federal Reserve Fed Laws 62

VISTA InfoSec

SEPTEMBER 15, 2023

This Act, which supersedes Section 43A of the IT Act, 2000 and the SPDI Rules, 2011, brings about considerable changes to the norms of data protection. The DPDP Act is lean and principle-based, with details around implementation to be set out in future rules. For upholding public order and ensuring safety. Clause 10(2)(a) DPDP Act.)

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