Stax

AUGUST 1, 2024

However, card brand rules and state and federal laws have been established to prevent merchants from abusing this privilege. In this article, we’ll explore Visa’s rules around credit card surcharging and what merchants need to know about them. Per the latest reports, Visa wants to enforce its surcharging rules more seriously.

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Rules Credit Cards Caps Processors 88

Payments Dive

JULY 18, 2024

The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.

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Laws CFPB Rules 88

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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Rules Legal Framework Legal Regulations 90

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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CFPB Rules Product Consumer Financial Protection Bureau (CFPB) 99

The Payments Association

OCTOBER 23, 2024

On 25 September 2024, the UK Financial Conduct Authority (FCA) published its long-awaited Consultation Paper (CP24/20) setting out proposed changes to the safeguarding rules applicable to electronic money institutions (EMIs) and payment institutions (PIs) (together, payments firms). See our previous Sidley Update on that review.

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Rules Payments Institute Authorization Reconciliation 88

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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Rules Law Enforcement MFA Laws 89

The Fintech Times

FEBRUARY 12, 2024

Members of the European Parliament (MEPs) have officially adopted new rules to ensure transferred funds arrive immediately into the bank accounts of retail customers and businesses across the EU. The post European Parliament Introduces Instant Credit Transfer Law for Banks and PSPs appeared first on The Fintech Times.

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Laws Rules Fraud Detection Money Laundering 59

Neopay

APRIL 22, 2024

The UK’s company law landscape underwent significant changes with the enactment of the Economic Crime and Corporate Transparency Act, effective from 4th March 2024. The post Changes to UK company law appeared first on Neopay. Here is a summary of what you need to know about the new measures.

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VISTA InfoSec

OCTOBER 21, 2024

To overcome these challenges, data protection laws are established. Data protection laws safeguard personal information and establish important guidelines on collection, storage, processing, sharing and disposal of personal data. and PDPA in Singapore that reflects the growing need for privacy specialists in organizations.

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PYMNTS

JULY 5, 2020

In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. It’s intended to “enhance the availability of financial services and the financial transparency of hemp-related businesses in compliance with federal law,” the notice said.

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Treasury Office of the Comptroller of the Currency Fincen Financial Crimes 140

Finextra

SEPTEMBER 19, 2024

The Government and FCA announce plans to reform UK retail disclosure rules, and will temporarily exempt investment trusts from assimilated EU law requirements.

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Rules Governance Government Laws 52

PYMNTS

MARCH 8, 2020

A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The result of the ruling could lead to more activity in the French bitcoin market. This ruling could encourage more activity in the French Bitcoin market.

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Bitcoin Law Enforcement Cryptocurrency Rules 112

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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Data Breach Breach Governance Government 130

PYMNTS

OCTOBER 11, 2020

Epic sued Apple in August, accusing the technology giant of violating laws that restrict anti-competitive behavior. Friday's ruling by U.S. WSJ quoted David Hoppe, a technology and media lawyer at Gamma Law in San Francisco who is not involved in the case, as having said the ruling hurts Epic. “The

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Rules Laws Processors Breach 104

Stax

DECEMBER 2, 2024

Several new laws seek to ban “drip pricing” or “junk fees,” and their uncertain meaning has resulted in confusion among merchants and acquirers. What are drip pricing laws? This language is from California’s “Honest Pricing Law,” also known as SB 478 , which went into effect on July 1, 2024.

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Junk Fees Credit Cards Push-to-Card Laws 68

Finovate

OCTOBER 22, 2024

financial services community has been waiting for for at least a year– the Consumer Financial Protection Bureau (CFPB) issued its final 1033 rule making. The new rule, issued in the form of a 594-page document, aims to enhance consumers’ rights, privacy, and security over their own personal financial data.

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Rules Consumer Financial Protection Bureau (CFPB) CFPB GLBA 52

VISTA InfoSec

OCTOBER 21, 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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Cybersecurity Compliance Encryption Best Practices 135

PYMNTS

OCTOBER 13, 2020

In January, California implemented its AB 5 law, which required that ride-hailing, food delivery and other such companies treat their workers as employees rather than independent contractors. The companies instead decided to appeal the suit.

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Laws Rules Economy Legal 100

Finovate

MARCH 13, 2024

That said here are four major implications the new law will have on banks: Prohibited AI applications The new law prohibits the use of AI for emotion recognition in the workplace and schools, social scoring, and predictive policing based solely on profiling. The transparency reporting will not be one-size-fits-all.

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AI Laws Fraud Detection Assessments 111

PYMNTS

AUGUST 11, 2020

The California judge who ruled that Uber and Lyft have to classify their workers as employees reportedly “saw straight through” the “bogus argument” that the companies’ workers like being classified as independent contractors instead. Both companies have said they plan to appeal the judge’s ruling.

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Rules Economy Compromise Laws 110

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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FDIC Rules Laws FinTech 64

PYMNTS

AUGUST 14, 2020

Regulators and law enforcement will try their best to recoup the money, he told China Central Television Friday (Aug. as Chinese firms rush to go public before tough new federal disclosure rules go into effect. regulators, a move that would put the firms in conflict with secrecy laws in China. 14), per the report.

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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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Governance Government AI Laws 78

The Paypers

JULY 9, 2024

The Financial Market Commission has announced the publication of a rule that is aimed at regulating the Open Finance System within the framework of the Fintec Law.

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Laws Regulations Rules Finance 41

PYMNTS

DECEMBER 30, 2020

Payactiv 's Earned Wage Access (EWA) program is exempt from federal lending law under new rules from the Consumer Finance Protection Bureau (CFPB), according to a press release.

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CFPB Payroll Correspondent Rules 106

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.

Financial Crimes 88

Financial Crimes Crime Consulting Compliance 88

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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Laws Stablecoins Issuers Legal 52

PYMNTS

SEPTEMBER 17, 2020

The European Union (EU) could pass new laws that would make it mandatory for Apple to share the payments technology in its iPhones, according to a report from Bloomberg. The new laws would prevent developers from restricting access to their near-field communication (NFC) technology embedded in the phones or other devices, like smartwatches.

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Request for Comment Laws Payments CHIPS 112

VISTA InfoSec

SEPTEMBER 28, 2023

Now, this individual could be anyone, but there are a couple of special cases to consider: If the individual is a child, then the ‘Data Principal’ also includes the child’s parents or their lawful guardian. If the individual has a disability, then the ‘Data Principal’ includes their lawful guardian who is acting on their behalf.

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Laws Privacy Authentication Authorization 130

PYMNTS

NOVEMBER 11, 2020

The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. percent drop in its stock on the Hong Kong Stock Exchange.

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PYMNTS

SEPTEMBER 22, 2020

The letter, written by Jonathan Gould , the agency’s senior deputy comptroller and chief counsel, also clarified that the ruling only applies to cryptocurrency on a one-to-one basis by a single fiat currency. . “A

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Office of the Comptroller of the Currency OCC Stablecoins Due Diligence 138

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”.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

PYMNTS

DECEMBER 30, 2020

There are clear rules of the road for using XRP in the U.K., The SEC also said in the filing that an international law firm told Ripple that it wasn’t likely that XRP could be considered a currency because it’s not backed by a central government and therefore not legal tender. Ripple said in a statement on Tuesday (Dec.

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Open Banking Excellence

NOVEMBER 14, 2023

Together, these new rules will enable Europe to push forward into Open Finance – the next stage of Open Banking. Their impact will be augmented and enhanced by a third set of rules, the Financial Data Access (FIDA) framework. Clearly, the PSD3 and its companion rules will not come into force in post-Brexit Britain.

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PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. A lack of safety and soundness rules will expose the financial system to significant vulnerabilities.”. However, the banking industry doesn’t like that one bit. “We

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Office of the Comptroller of the Currency OCC Non-Bank Regulations 139

Fintech Review

OCTOBER 22, 2024

As digital assets become more widespread, taxation laws are being shaped and adapted to accommodate them. European Union: Inconsistent Approaches to Cryptocurrency Taxation Within the European Union (EU), taxation laws for cryptocurrencies are not uniformly regulated across member states.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

The Payments Association

OCTOBER 21, 2024

The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. Collaboration between regulators, law enforcement, and the counter-fraud community is needed to ensure the effectiveness of the reimbursement scheme and to mitigate emerging fraud risks.

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