The Paypers

JULY 22, 2024

The Consumer Financial Protection Bureau (CFPB) has suggested an interpretive rule to ensure that lenders’ legal obligations to disclose the costs of paycheck advance products are met.

Consumer Financial Protection Bureau (CFPB) 41

Consumer Financial Protection Bureau (CFPB) CFPB Rules Product 41

Finovate

NOVEMBER 20, 2024

. “These Guidelines clarify how restrictive measures policies and procedures interact with financial institutions’ wider governance and risk management frameworks, to avoid operational and legal risks for financial institutions and ensure an effective implementation of restrictive measures,” the EBA wrote.

Rules 59

Rules Cryptocurrency Payment APIs and Integration Regulations 59

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) 101

PYMNTS

NOVEMBER 1, 2020

In Apple 's annual report , the tech giant discussed the impact that various legal proceedings and new regulations around the world could have on its operations and financial conditions. Those could lead to changes in the company's practices or further legal proceedings, the report stated.

Legal 94

Legal Regulations Consumer Protection Privacy 94

Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

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Travel Rule Money Laundering Rules Finance 52

The Paypers

DECEMBER 12, 2023

The CJEU has issued a new set of rulings in order to simplify the manner in which data protection supervisory authorities of the EU member states sanction legal entities.

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Rules Legal Authorization 41

PYMNTS

DECEMBER 10, 2020

The legal framework for digital services has been largely unchanged in the region for about 20 years. That’s even as “repressive regimes around the world use draconian legal frameworks to stifle online freedoms.”. Strict rules must be enforceable,” he said.

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Rules Legal Framework Legal Regulations 90

PYMNTS

JANUARY 15, 2021

The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations, according to a press release.

OCC 86

OCC Office of the Comptroller of the Currency Rules Risk Assessment 86

The Payments Association

OCTOBER 22, 2024

It is, therefore, critical that segregation rules are designed to complement insolvency law, such as PESAR, and it is not currently clear how this will be ensured for the FCA’s proposals. To tackle this problem, the FCA wants to strengthen and clarify the safeguarding rules. What problem is the FCA seeking to address? Who is impacted?

Consulting 88

Consulting Rules Treasury Due Diligence 88

PYMNTS

JANUARY 23, 2019

3 Super Bowl approaches — heaven for football fans and gamblers, including bettors who make wagers via online channels — federal authorities have brought a new level of uncertainty into the prospect of those legal bets. Now, at least eight states have some form of legal online sports betting, with more states moving toward that goal.

Legal 57

Legal Wires Wire Rules 57

Segpay

APRIL 4, 2024

Unlike traditional AI models that follow pre-defined rules, generative AI can create text, images, and other data using generative models. If so, reach out to us at sales@segpay.com The post What Kind of AI Content Can I Legally Generate? It can perform tasks that typically require human intelligence from developed systems.

Legal 52

Legal AI Deepfake Assessments 52

PYMNTS

DECEMBER 19, 2019

The effect is perhaps most pronounced in the legal profession, where payments have been done a certain way for time immemorial, and where there are also serious matters of compliance. ‘I But stringent rules also govern when law firms must pay settlements and judgments, and there are damaging fines for payment timing errors.

Legal 52

Legal Settlement Checks Laws 52

Payments Source

AUGUST 20, 2020

She will help the company prepare for new data-sharing rules and its pending sale to Visa. Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured."

Legal 111

Legal CFPB Rules Consumer 111

PYMNTS

FEBRUARY 11, 2020

The Department of the Treasury Financial Crimes Enforcement Network (FinCEN) has issued a new ruling on the reporting of currency transactions for sole proprietorships and legal entities operating under a “Doing Business As” (DBA) name, according to a Monday (Feb. Those rules were based on FinCEN Form 104, which is now obsolete.

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Fincen Rules Transactions Law Enforcement 52

PYMNTS

AUGUST 21, 2020

21), Apple argued Epic Games violated Apple’s rules and should be prohibited from its store until the legal battle is resolved, CNBC reported. Apple has responded to a lawsuit by Fortnite maker Epic Games that the tech giant’s practices are anticompetitive. In its answer filed Friday (Aug.

Legal 71

Legal Returns Rules Payments 71

PYMNTS

DECEMBER 23, 2019

One such area in which instant payments remain out of reach is the legal system, as claimants still largely receive their settlements or disbursements via check. Such needs make payment speed a low priority for legal firms, even though consumers involved in court cases are often frustrated and confused about how to receive their settlements.

Legal 52

Legal Instant Payments Checks Settlement 52

The Payments Association

NOVEMBER 3, 2023

Tony Petrov, chief legal officer at Sumsub, summarises the rules incorporated in the EU Artificial Intelligence Act (EU AI Act) and how they might impact on the industry. Read more

Risk 88

Risk Legal Rules AI 88

PYMNTS

JANUARY 14, 2020

Why are checks holding on so powerfully in the world of legal payouts? The answer is complicated, Edwards noted, because legal payouts are more complex and varied than most people realize. When most people think of legal disbursements, Edwards noted, they tend to think about what he calls “large life event” payments.

Legal 52

Legal Instant Payments Checks Settlement 52

PYMNTS

JUNE 17, 2020

In the United Kingdom, and for the payment network giants in the decades-long legal battle over interchange fees — next stop, trial court? Sainsbury’s will now be seeking to recover the full amount of the unlawful charges it has incurred,” Murphy said, in the wake of the ruling. ruling on Wednesday was not a final one.

Legal 60

Legal Visa Issuers Acquirers 60

Stax

JULY 30, 2024

However, before you start surcharging customers, you need to be aware of all the rules surrounding it. Apart from card networks setting their own rules and guidelines, states also have certain rules that merchants must abide by. The surcharge rate can never exceed 4% of the total credit card transaction (3% for Visa cards).

Credit Cards 88

Credit Cards Laws Rules Debit Card 88

VISTA InfoSec

OCTOBER 21, 2024

Additionally, to note not every organization is legally required to appoint a DPO, but there are specific circumstances outlined in GDPR where it becomes mandatory. Our experienced team will guide you through every step of the way from monitoring compliance to managing data protection risks, and help you avoid legal penalties.

CCPA 130

CCPA Privacy Laws Data Breach 130

The Payments Association

NOVEMBER 7, 2024

However, it is also under the perception of being beset by tough legal challenges, high fraud levels, and constant scrutiny from governments trying to regulate an industry evolving at a rapid pace. Repeatedly , financial institutions that fail to comply with the rules have faced national attention and backlash.

Compliance 88

Compliance Innovation Regulations Payments 88

Segpay

OCTOBER 23, 2024

Heightened Scrutiny from Financial Institutions and Regulators: As adult content platforms are more closely monitored, businesses must take proactive measures to ensure that they’re following all legal requirements. Evolving Regulatory Landscape: Laws and regulations are constantly changing, and what was compliant yesterday may not be today.

Compliance 78

Compliance Non-Bank Legal Processors 78

PYMNTS

DECEMBER 3, 2019

The statement provides FIs with federal data that defines the legal status of hemp, as well as the U.S. Department of Agriculture’s (USDA) interim final rule on hemp production. After further evaluation of the USDA interim final rule, the Financial Crimes Enforcement Network (FinCEN) will issue additional guidance.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

PYMNTS

JANUARY 15, 2021

Epic admitted that it had known the new update would go against Apple's rules but went ahead anyway, due to what it claims are Apple's anti-competitive practices with the App Store. There's set to be a court battle between the two around the summer of 2021, which could see drastic changes to the way the digital economy runs in the future.

Legal 63

Legal Disputes Rules Blocks 63

Nanonets

SEPTEMBER 16, 2024

Consider the volume of contracts that businesses typically deal with, the effort required to manually review dense unstructured legal information, and the (legal) expertise required to interpret the data within contracts. legal documents and contracts often use complex language, industry-specific terminology and ambiguous legalese.

Legal 59

Legal AI Payment APIs and Integration Agreements 59

PYMNTS

OCTOBER 29, 2020

The European Union’s (EU) second-highest court ruled that Facebook can’t be forced to turn over sensitive information without a review. The ruling follows Facebook’s complaint in July that EU regulators were making excessive demands for sensitive data, beyond what was necessary. “The

Rules 56

Rules Federal Trade Commission FTC Legal 56

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.

Cybersecurity 130

Cybersecurity Compliance Encryption Best Practices 130

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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CFPB Underwriting Rules Credit Union 53

PYMNTS

FEBRUARY 25, 2020

Bitcoin is treated as a property, with all the normal rules of taxation applying, which means crypto is liable to be taxed 15 percent under the GST. Meanwhile, the Court of Appeal in Singapore ruled Monday (Feb. The goods and services tax (GST) is unpopular with some. It said the GST may be dropped in terms of cryptocurrencies.

Rules 56

Rules Bitcoin Cryptocurrency Legal 56

The Payments Association

OCTOBER 30, 2024

Each market has unique rules, and understanding these distinctions is essential for maintaining seamless operations. Yet, with each region having its own set of compliance rules, navigating these regulations can be challenging.

Regulations 100

Regulations Cross-Border Compliance Fraud Prevention 100

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.

Cybersecurity 238

Cybersecurity Compliance Encryption Best Practices 238

The Payments Association

OCTOBER 11, 2024

The Financial Conduct Authority (FCA) is consulting on new rules and guidance to strengthen the safeguarding of consumer funds in the payments and e-money sectors. The current safeguarding rules are based on the Payment Services Regulations 2017 (PSRs) and E-Money Regulations 2011 (EMRs).

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

FEBRUARY 4, 2019

FanDuel, a daily fantasy sports provider and bet taker site, said it lost $5 million on the Super Bowl on Sunday after taking some of New Jersey’s first legal sports bets, according to a report in Bloomberg. Right now, sports betting is legal in eight states, and that number could soon double, analysts say. Very big in fact.”.

Legal 53

Legal Rules 53

Fintech News

JANUARY 9, 2024

This plan, a centerpiece of the ruling Pheu Thai party’s election campaign, involves disbursing approximately US$14.3 Despite concerns raised by the Office of the Council of State regarding the financing of this programme, they have not identified any legal impediments to the government’s plan to borrow funds for this purpose.

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Central Bank Legal Government Governance 126

PYMNTS

MAY 11, 2018

Today (May 11 ) is the day the final rule, served up by the Financial Crimes Enforcement Network (FinCEN), takes effect. The CDD Rule — titled “Customer Due Diligence Requirements for Financial Institutions” — amends the Bank Secrecy Act regulations. The deadline cometh. banks to mutual fund brokers to commodity brokers.

Rules 40

Rules Fincen Due Diligence Financial Crimes 40

PYMNTS

JULY 17, 2018

Employees hit with costs to make purchases with their payroll cards, withdraw cash at ATMs, check balances and other everyday banking needs are fighting back against those fees, and introducing new conversations about the legal language of “lawful money,” employee protections and beyond. The rules become effective Jan.

Payroll 40

Payroll Legal Laws Debit Card 40