PYMNTS

JUNE 29, 2020

In today’s top news, Germany’s deputy finance minister wants to restructure accounting firm regulations, and consumers are turning away from travel rewards cards. Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs. Plus, the Federal Deposit Insurance Corp. FDIC) is looking to modernize bank reporting.

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Regs FDIC Accounts Consumer 56

PYMNTS

FEBRUARY 12, 2018

According to a report in The Wall Street Journal , citing Dealogic, out of the eight companies that went public last year under a provision of the Jumpstart Our Business Startups (JOBS) Act known as Regulation A+, seven are trading below their offer price – an average of 42 percent lower than riced when they went public.

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Payments Source

JUNE 19, 2019

Today: Regulators criticize Facebook's crypto; India may ease local data storage regs; Distributed ledgers advance in Italy; Real-time rails gain more users in the U.S. The information you need to start your day, from PaymentsSource and around the Web.

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Regs Regulations 104

PYMNTS

MARCH 18, 2020

The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). In 1987, parent banks were allowed to bypass FDIC oversight and regulations. .

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FDIC Regs FinTech Rules 57

PYMNTS

JANUARY 24, 2020

With an array of bills brought forward by lawmakers during this legislative session, Washington state could become a leader in artificial intelligence regulation. Microsoft , as well as its president, has been asking regulators to make legislation on artificial intelligence (AI) for months.

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AI Regs Privacy Regulations 67

Electronic Payments Coalition

OCTOBER 20, 2023

The coalition includes organizations representing the vast majority of federally-regulated financial institutions across the country, including community banks, credit unions, and institutions serving the military community concerned about the negative impact Reg II changes could have on millions of deposit account holders.

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PYMNTS

APRIL 10, 2020

With the newest effort to direct more funding its most susceptible business vertical, China’s banking regulator said it would begin to watch the level of support lenders are providing to smaller companies that are encountering difficulties. It also detailed different goals to command the bad loan ratio on SMB loans and lending rates.

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Assessments Regs Finance Mitigation 60

PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

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Regs Privacy Rules Regulations 60

Payments Source

FEBRUARY 14, 2019

A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision.

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Regs FinTech Regulations 62

PYMNTS

DECEMBER 31, 2018

Some popular apps for Android smartphones are feeding data to Facebook without user consent, which could be a breach of the European Union’s (EU’s) General Data Protection Regulation ( GDPR ). This sharing of data could be a major breach of GDPR, which came into effect in May. million USD), whichever is greater.

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Payments Source

AUGUST 4, 2019

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

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Regs Breach Mitigation Risk Management 67

PYMNTS

DECEMBER 3, 2019

Airbnb has removed thousands of listings in Boston in response to new regulations regarding residency in the city, according to a report by CNBC. The company is facing increased regulation from cities all across the U.S. The company is facing increased regulation from cities all across the U.S.

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Payments Source

JANUARY 14, 2019

As the payment industry continues to innovate and expand across borders, it increasingly will need to be mindful of data regulations requiring data localization that multiply the complexities and cost of creating a seamless data flow and user experience, Alston & Bird’s Richard Willis and Laura K. Song write.

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Regs Privacy Rules Regulations 67

PYMNTS

SEPTEMBER 30, 2019

Scrutiny of tech firms is spreading across the globe, hinting at broader regulations over privacy and, possibly, bigger tax bills. As reported last week , Haruhiko Kuroda, the Bank of Japan governor, on Tuesday, said that international regulators must cooperate when it comes to regulating stablecoins like Libra, Reuters reported.

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Regs Privacy Regulations Rules 53

PYMNTS

AUGUST 22, 2019

US Secretary of State Mike Pompeo believes that bitcoin needs to be as highly regulated as SWIFT. Look, the risk with anonymous transactions is one that we all know well.

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Bitcoin Regs Regulations Blockchain 46

PYMNTS

AUGUST 22, 2019

Secretary of State Mike Pompeo believes that bitcoin needs to be as highly regulated as SWIFT. Look, the risk with anonymous transactions is one that we all know well.

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Bitcoin Regs Regulations Blockchain 46

PYMNTS

JANUARY 26, 2020

Corbett stepped down from the job because it was “impossible” to overcome regulations on Bird Rides while Brexit was in process. Corbett said it had taken him years at his previous job — at taxi company, Eyetease — to enact any regulation changes in Britain. Bird Rides, Inc. , the eScooter startup, lost its U.K.

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Regs Regulations Laws Addressing 53

PYMNTS

SEPTEMBER 12, 2016

” The regulator added that only legally recognized stock exchanges can serve as electronic platforms for corporate securities to be listed and traded. for example, Regulation A+ has come into effect under Title IV of the JOBS Act. In the U.S.,

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PYMNTS

JUNE 10, 2019

’s peer-to-peer (P2P) lenders are hoping that tighter regulations by the Financial Conduct Authority (FCA) can help restore the sector’s damaged reputation. “The FCA has been caught out by a new sector, which was left virtually unchecked and allowed to grow at a startling rate, with barely any regulation.”. “New

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P2P Regs Rules Regulations 55

PYMNTS

FEBRUARY 3, 2019

Australia’s competition regulator is going after the banking industry in the country, vowing to punish what it claims is misconduct, reported The Financial Times. He noted that regulators shouldn’t have allowed Westpac to merge with St George Bank back in 2008, reported The Financial Times.

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Regs Regulations Rules FinTech 40

PYMNTS

DECEMBER 29, 2019

Regulators approved the $3.1 Careem , an Egyptian domestic rival to U.S.-based based Uber , is set to be acquired by their global competition giant. billion deal after Uber guaranteed it would abide by a series of commitments designed to sustain competition in the regional market, Reuters reported Sunday (Dec.

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Regs Caps Compliance Regulations 52

PYMNTS

APRIL 2, 2019

Facebook CEO Mark Zuckerberg’s call for regulation in the tech space on Saturday (March 30) is drawing praise: U.S. However, the outlet reported that the latest statement is “Facebook’s most explicit call to date for regulation.”. Zuckerberg’s call has elicited praise from other lawmakers as well.

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PYMNTS

OCTOBER 13, 2019

Bengaluru-based Razorpay would like to work with the Reserve Bank of India (RBI) on new regulations that would make it mandatory for payments companies to comply with RBI’s entry point, technology, security, data storage and more. So far, we haven’t dealt with the regulator directly, because we were small. It is a welcome step.

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Regs Visa Regulations Payment Gateways 56

PYMNTS

JULY 21, 2019

Experts on dispensaries say such labeling is the only way to get around federal banking regulations. Federal regulations prevent financial institutions and other payment companies from serving up options to pay to the legal weed industry. . Skaff is a marijuana business financial advisor.

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Regs Credit Cards Credit Union Legal 55

PYMNTS

MARCH 4, 2020

Financial and competition regulators in Australia have teamed up to look into the rising use of supplier payday lending schemes used by big companies, according to a report by The Australian.

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Regs Finance Payments Small Business 56

PYMNTS

NOVEMBER 5, 2019

SoftBank is looking to develop stricter regulations for startups in the wake of the near collapse of WeWork. The startup regulations would also require at least one independent director, preventing directors from owning super-voting shares, and limiting founders or management to less than half of the board seats.

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Regs Regulations Legal Government 40

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. As a result, the regulators ordered that the terms and conditions of be changed — and the decision is not subject to appeal.

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Regs Regulations Legal Laws 46

Payments Source

AUGUST 22, 2018

The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.

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PYMNTS

DECEMBER 15, 2019

We have always worked constructively with regulators, and we will continue to do so.”. “The DOJ has asked us to provide information about these past investigations, and we expect state attorneys general will ask similar questions. Google’s appeal against a $2.64 billion fine for antitrust practices in the EU will be heard by a court Feb.

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Regs Legal Continuity Regulations 52

PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. The Royal Commission has referred two dozen cases for regulators, which could result in prosecution.

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Regs Small Business Regulations Advisors 43

PYMNTS

OCTOBER 26, 2018

state bank regulators said it filed a complaint in the U.S. In July, the NYDFS released a report urging online marketplace lenders to have the same level of scrutiny and regulations placed upon them that traditional banks face. Reports in Reuters on Thursday (Oct. The body of U.S.

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Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

SEPTEMBER 2, 2019

3 hearing advises that system-wide governance should be established to regulate virtual asset service providers (VASPs), CoinTelegraph reported Monday (Sept. Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone. financial system.

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Regs BSA Legal Framework Cryptocurrency 49

PYMNTS

SEPTEMBER 26, 2018

Australian regulators on Tuesday (Sept. Regulators probed the banks’ breaches of law in a review scrutinizing operations between 2014 and 2017, according to reports. The regulators’ probe included review of 12 banks, including Commonwealth Bank , Westpac, Australia and New Zealand Banking Group, and National Australia Bank.

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Breach Regs Non-Bank Regulations 43

PYMNTS

NOVEMBER 6, 2019

5) when Jersey City residents voted to apply more regulations to short-term rentals, a decision that could have repercussions as the company prepares for an IPO, according to a report by CNBC. million to fight the regulations. Airbnb suffered a blow on Tuesday (Nov. More than 69 percent of voters cast their ballots for the measure.

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Regs Regulations NOV 40

PYMNTS

MARCH 14, 2019

After completing a routine checkup on the Danish branch of SEB Kort Bank AB in March 2018, the recently-published findings show that the regulator is instructing the bank to gather additional information on customers that the branch believes have a high risk of money laundering or terror financing.

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Money Laundering Regs Crime Risk 53

PYMNTS

JUNE 4, 2018

In news separate from the sandbox announcement, yet germane to the financial industry in general, loan terms are sweetening, with some regulators starting to worry about looser lending standards, leading to annual lending growth of 3 percent. As noted at the time, the U.S. in sandbox development.

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CFPB Consumer Financial Protection Bureau (CFPB) Regs Office of the Comptroller of the Currency 47

PYMNTS

DECEMBER 9, 2019

The regulators felt that the merger could adversely impact wireless competition, and ultimately harm consumers. The first way concerns the federal trial over the possible merger of T-Mobile and Sprint.

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Regs Treasury Settlement Use Case 52