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

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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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

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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Laws Law Enforcement Government Governance 121

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 58

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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Rules PCI DSS Disputes Payment Networks 52

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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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

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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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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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

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 103

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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Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

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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CCPA Privacy Laws Data Breach 130

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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Laws Regulations On-Demand Rules 87

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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Government Governance AI Laws 78

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

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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Laws Rules Central Bank Privacy 58

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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Laws Rules 62

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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Rules Assessments Consulting Small Business 52

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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Rules Law Enforcement Laws Regulations 73

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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Scams Law Enforcement Crime Fraud Prevention 88

The Payments Association

OCTOBER 22, 2024

Nonetheless, the interaction of segregation requirements and insolvency law is often a key focus on insolvencies and has been subject to significant consideration by the courts, including by the Supreme Court concerning the insolvency of Lehman Brothers International (Europe). Who is impacted?

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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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Rules Laws Economy Governance 64

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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Rules Laws Authorization Regulations 75

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

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 130

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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Cybersecurity Compliance Encryption Best Practices 238

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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Laws Federal Trade Commission Law Enforcement FTC 57

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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Stablecoins Laws Rules Regulations 36

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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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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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.

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Cryptocurrency Laws IRS Regulations 97

The Payments Association

NOVEMBER 7, 2024

Navigating a patchwork of intersecting rules presents companies with ever-increasing layers of regulatory paperwork and legal hoops to jump through. The threat of non-compliance to industry-wide integrity is much greater than the short-term upside of gains made by skirting the rules or compliance budgets.

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Compliance Innovation Regulations Payments 88

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

NOVEMBER 18, 2016

China’s recently launched cybersecurity law is getting the support of Alibaba and Tencent Holdings. The new law, which puts broad restrictions on technology companies in China, is aimed at removing cybersecurity threats from industries it deems critical and at fighting terrorism, reported Fortune. This marks a step forward for China.

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Cybersecurity Laws Law Enforcement Central Bank 69