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.

Regs 67

Regs Privacy Rules Regulations 67

PYMNTS

JUNE 29, 2020

Wirecard Forces ‘Radical’ Reboot Of German Accounting Regs. The pandemic has accelerated consumer preferences for contactless payments, leaving merchants scrambling to process higher volumes while remaining compliant with rules for strong customer authentication (SCA). Plus, the Federal Deposit Insurance Corp.

Regs 56

Regs FDIC Accounts Consumer 56

PYMNTS

JULY 16, 2018

New rules may loom for technology providers pertaining to privacy — on a national level. Companies also have new rules in place that govern how data is shared for children aged 16 and below. That would include rules touching on how and when the tech could be used. ITI is looking for legislation at the federal level.

Privacy 40

Privacy Rules Regs Money Laundering 40

Payments Source

FEBRUARY 5, 2020

Firms will need to adjust to ISO 20022 and new SWIFT rules as data protection takes center stage, says says ACI Worldwide's Craig Ramsey.

ISO 20022 80

ISO 20022 Regs ISOs SWIFT 80

Payments Source

MAY 17, 2018

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

Fincen 71

Fincen Cryptocurrency Regs Money Laundering 71

PYMNTS

SEPTEMBER 28, 2020

Open banking rules have continued to evolve during the global health crisis, but the pandemic has given regulators and financial authorities new questions to tackle. One area where the pandemic may significantly impact emerging data protection and open banking rules is the Middle East and North African region (MENA).

Regs 60

Regs Privacy Rules Regulations 60

Payments Source

AUGUST 2, 2018

Today: Allied Wallet's CEO reportedly makes big political donations and skirts bank regs; Indian central bank pressures Paytm on AML; Grab's prepping another $1 billion raise; Google Pay adds another market; FSA tightens rules for FX marketing. The information you need to start your day, from PaymentsSource and around the Web.

Regs 63

Regs AML Central Bank Rules 63

PYMNTS

JANUARY 24, 2020

The agency would have 1,600 officials and would make regulations as well as look to see the imposed privacy rules are being followed. The Online Privacy Act, if passed, would lead to the Digital Privacy Agency (DPA)’s creation. The legislation is in response to privacy scandals.

AI 67

AI Regs Privacy Regulations 67

PYMNTS

JUNE 10, 2019

In addition, the market became more hostile after the FCA set new rules to limit marketing, boost governance and credit underwriting, and force lenders to prepare for failure. Some of Lendy’s rivals believe that tougher rules should reassure customers about the strength of the remaining lenders. “We Despite lending £6.7

P2P 55

P2P Regs Rules Regulations 55

PYMNTS

SEPTEMBER 30, 2019

With a nod toward privacy regulation, this past week saw the European Union’s top court ruling that Google need not extend the “right to be forgotten” across the globe. As reported, the court has ruled that the search and tech giant need only sever links from search results tied to Europe when demanded to do so by individuals.

Regs 53

Regs Privacy Regulations Rules 53

PYMNTS

FEBRUARY 19, 2019

In other news, Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has announced new rules for trading crypto assets on futures exchanges in the country. However, these new rules do not apply to initial coin offerings ( ICOs ), and using cryptocurrencies for payment is still illegal in the country.

Bitcoin 65

Bitcoin Regs Risk Assessment Blockchain 65

PYMNTS

APRIL 2, 2019

The news comes as Zuckerberg wrote an opinion piece in The Washington Post that asked regulators to take a “more active role” in crafting rules for how to govern the web.

Regs 43

Regs Regulations Rules Legal 43

PYMNTS

DECEMBER 3, 2019

As per the new rules, people who rent out their properties to Airbnb have to live in them for at least nine months out of any given year. Only one listing is allowed per host, and hosts have to register units every year in addition to paying a licensing fee.

Regs 52

Regs Regulations Legal Settlement 52

PYMNTS

FEBRUARY 3, 2019

The government official said the Competition and Consumers Commission is looking at ways to remove regulatory barriers that hurt smaller banks and would push to promote opening banking rules that make it easier for consumers in Australia to easily switch banks.

Regs 40

Regs Regulations Rules FinTech 40

PYMNTS

DECEMBER 3, 2019

Those threats encompass having to offer a service that is fully private to customers who pay, being forced to unwind the acquisition of Instagram and complying with new rules in the U.S. Citigroup had moved coverage of Facebook to Bazinet, who reportedly issued the warning out of the gate, Bloomberg reported.

Regs 52

Regs Compliance Risk Rules 52

PYMNTS

OCTOBER 26, 2018

But legal hurdles have caused some FinTechs to approach the charters cautiously, reports said, while they wait for greater clarity and certainty on the rules. .” The bank charters would allow FinTechs to operate on a national level rather than having to obtain state-level licenses one by one.

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

JUNE 4, 2018

Separately, and on the international stage, Meridian Trade Bank was fined more than €450,000 for breaching anti-money laundering rules. That movement comes as matters requiring attention — citations put forth by the OCC to modify lending practices — are up 24 percent year over year, as measured in the first quarter.

CFPB 47

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

PYMNTS

MARCH 12, 2019

Regulators are also adopting a range of reforms for the banking industry aimed at improving services, though policymakers are unclear on how the effort will impact small businesses, with debate over how to define a “small business” and whether to include SMBs under borrower protection rules.

Regs 43

Regs Small Business Regulations Advisors 43

PYMNTS

MAY 6, 2019

The European Commission (EC) recently ruled in favor of a 40 percent reduction of interregional interchange fees charged by Visa and Mastercard, a ruling that reports said applies to non-EU consumer debit and credit cards used to make purchases across Europe.

Commercial Card 46

Commercial Card Caps Regs Visa 46

PYMNTS

OCTOBER 22, 2019

These rules were designed to ensure that banks have enough cash on hand to meet their obligations in the event of another market crash,” Warren wrote.

Regs 40

Regs Money Laundering Fed Rules 40

PYMNTS

MARCH 19, 2018

Competition Commission — now the Competition and Markets Authority — introduced stricter rules for the accountancy market, but Haddrill said the measures have done little to boost competition. “In some circles, there is a crisis of confidence.”. A previous inquiry by the then-U.K.

Regs 49

Regs Accounts Audit Regulations 49

PYMNTS

NOVEMBER 4, 2019

The International Organization of Securities Commissions (IOSCO) said existing securities rules could be applied to Libra, Facebook’s proposed cryptocurrency, according to a report by Reuters. The IOSCO is made up of regulators across the globe, including Japan, Europe and the U.S.

Regs 40

Regs Stablecoins Security Money Laundering 40

PYMNTS

MARCH 26, 2018

She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. The upgrades, which The VAT Consultancy advised upon, ensures the eInvoices that suppliers issue are VAT-compliant and include the necessary data for each EU member state based on its particular VAT rules.

Regs 40

Regs B2B Consulting Compliance 40

PYMNTS

JULY 24, 2020

Wider acceptance of open banking rules and strategies is occurring in Brazil, Chile, Colombia and Mexico, and venture capital investment interest is following, even as many of the region’s merchants are assessing the pandemic’s negative financial impacts.”.

Online and Mobile Banking 67

Online and Mobile Banking Regs Regulations Cross-Border 67

PYMNTS

JULY 17, 2018

The credit union (CU) market has long argued that rules intended for larger, more traditional banks have unjustly been applied to their industry, stifling their growth and pace of innovation. However, recent changes in regulations could open new doors for the credit union market to more efficiently serve its members.

Credit Union 40

Credit Union Regs Push-to-Card Underwriting 40

PYMNTS

FEBRUARY 9, 2017

Brokers/dealers were concerned about the potential for consumers to exercise their rights under Regulation E to assert that a transaction was unauthorized up to 60 days after its settlement, despite the fact that securities settlement transactions are exempt from Reg. A Window Of Opportunity. But what about the other concern?

Reg E 46

Reg E Security Transactions Third-Party Sender 46

PYMNTS

NOVEMBER 5, 2018

Roughly a decade on, is it time to remove some of the rules governing the financial sector that took shape in the aftermath of the Financial Crisis of 2008? To that end, the Federal Reserve proposed last week that some rules be relaxed for 16 financial institutions — though the largest banks in the country are not among them.

Fed 51

Fed Federal Reserve Regs Rules 51

Global Fintech & Digital Assets

JANUARY 24, 2024

Wink , and Deric Behar On January 10, 2024, the Securities and Exchange Commission (SEC) issued , on an accelerated basis, an Omnibus Approval Order (the Order) for proposed NYSE Arca, Nasdaq, and Cboe BZX rule changes seeking to list and trade shares of 11 spot bitcoin trusts. Based on recent developments (primarily the D.C. 22-1142 (D.C.

Bitcoin 59

Bitcoin Product Agreements Rules 59

PYMNTS

JANUARY 3, 2017

If its listings hold constant, Airbnb could see its bookings in 2017 drop by a third thanks to the new rules. What remains to be seen is if the regs will shift visitors to new listings on the Airbnb platform — or off of the platform entirely. billion in 2017.

Regulations 45

Regulations Regs Regulatory Compliance Disputes 45

PYMNTS

DECEMBER 28, 2020

The Wall Street Journal reported that while the fines were small, they represented the first time that authorities had ever enforced such rules against foreign-listed Chinese firms. Chinese officials last month also issued draft rules aimed at preventing monopolistic behavior by internet firms.

Regulations 67

Regulations Authorization Regs Central Bank 67

Fintech Labs Insights

MAY 13, 2015

Presenting Scott Purcell (Founder, CEO) and Scott Anderson (General Counsel). Product Launch: December 2014. Metrics: $2.25M angel funding to date, 9 employees, 125 crowdfunding platforms signed up, 40+ escrows opened in first 3 months.

Compliance 22

Compliance Regs AML Advisors 22

PYMNTS

MAY 26, 2016

Those services launched into virgin territory in terms of regulation — businesses of this kind had never quite existed before — and so the rules and regs in place did not quite manage to directly address them. Uber and Lyft fought against local taxicab rules that kept prices high and limited access to services,” Warren said.

On-Demand 40

On-Demand Regulations Economy Laws 40

FICO

NOVEMBER 30, 2022

For example, the Financial Conduct Authority (FCA) rules on persistent credit card debt in the United Kingdom. Debt Collections on Tenterhooks with Six and Sevens following CFPB’s Reg F. Also, it is important for care to be taken to identify and corrected for what may be misinformation on consumer interpretation and understanding.

Risk 52

Risk Credit Cards Online and Mobile Banking Facilitators 52

PYMNTS

FEBRUARY 18, 2019

As part of the EU’s Digital Single Market push , regulators and politicians that are part of that body have, in the words of the EU, “reached a political deal on the first-ever rules aimed at creating a fair, transparent and predictable business environment for businesses and traders when using online platforms.”. Marketplace Changes.

Regs 58

Regs Rules Regulations Privacy 58

PYMNTS

APRIL 12, 2017

With the rules now coming into effect, one of the biggest challenges to getting this business model off the ground, McGlade said, is making sure businesses know they have this path they can choose when seeking financing. Until that spigot dries up, there’s not much incentive to be an early adopter of Reg.

Small Business 41

Small Business Regulations Regs Accreditation 41

Fintech Labs Insights

AUGUST 21, 2015

FundAmerica’s back-end compliance solutions include everything from AML and escrow services to payment processing and state dealer representation, in short all investment advisers, broker-dealers and others need to raise capital pursuant to 506(c), 506(b), Reg A+, and rule 4(a)(6) crowdfunding regulations.

Payment APIs and Integration 24

Payment APIs and Integration Regs AML Issuers 24

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.

Regs 95

Regs NOV Law Enforcement Economy 95