PYMNTS

JULY 31, 2020

Regulators in China are preparing to move against once-hot Luckin Coffee Inc. The company has since been delisted, and Luckin has fired its chief executive officer and chief operating officer. In May, the Journal reported extensively on problems at Luckin , which was founded in 2017 and had been growing at a scalding pace.

Regulation 151

Regulation Fraud Report Security 151

Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank. In 2019, it expanded by buying its fourth branch from a competitor.

United States 221

United States Kansas FDIC Risk Management 221

Accenture

NOVEMBER 27, 2017

Connecting more than 8,000 decision makers and thought leaders across the industry, Sibos 2017 in Toronto was once again the platform where the global financial community explored the disruptions and opportunities in payments driven by innovation, technology and new business models. Open Banking is fast becoming a global phenomenon.

Innovation 171

Innovation Conference Fintech blockchain 171

PYMNTS

JUNE 14, 2019

Google CEO Sundar Pichai pushed back against talk of regulating tech companies, saying that the move could have unintended consequences, according to a report by CNBC. “I I worry that if you regulate for the sake of regulating it, it has a lot of unintended consequences,” Pichai said.

Google 108

Google Regulation Comparison Leadership 108

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

Chris Skinner

FEBRUARY 26, 2017

Governments want banks to be big and regulated, because governments can then access the data the bank is keeping … An interview with Tom Blomfield, co-founder of Monzo The first job Tom Blomfield (left in photo) ever had was delivering leaflets for estate agent Wilson Heal. The film is about Theodore, played by Joaquin Phoenix.

Phoenix 150

Phoenix Maine Analytics Analysis 150

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. ” In 2017, an estimated 40 percent of financing requests from micro, small and medium-sized businesses (SMBs) were denied.

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

JUNE 13, 2019

Latvia’s parliament has passed new regulation to bolster the fight against money laundering and terrorism financing. This is an unprecedented case of political interference in the Financial and Capital Market Commission’s operations,” he said. In 2017, two Latvian banks were fined more than 2.8 million euros ($3.26

Regulation 120

Regulation Maine Capital National 120

PYMNTS

JANUARY 26, 2021

MobileCoin complements the privacy-focused app in that it is “more resistant to surveillance,” according to a 2017 Wired report. In other news, European FinTech SIA is partnering with WizKey to create a platform to allow credit negotiations on blockchain for banks, financial operators and funds, according to a press release.

blockchain 244

blockchain Guidelines cryptocurrency Marketing 244

PYMNTS

JUNE 30, 2020

A summary of Wirecard ’s customers in 2017 suggests that just 100 clients represented over 50 percent of its real sales, the Financial Times reported, citing an internal spreadsheet. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017.

Regulation 222

Regulation Report Operations Payments 222

PYMNTS

JANUARY 29, 2018

Following the theft of $530 million in NEM tokens from Coincheck last week, governments will likely call for more cryptocurrency regulation and investors may turn to peer-to-peer (P2P) methods of trading instead of centralized exchanges, Bloomberg reported.

Regulation 124

Regulation cryptocurrency Bitcoin Security 124

PYMNTS

FEBRUARY 14, 2018

government determines its best approach to cryptocurrency regulation, a commissioner with the Commodity Futures Trading Commission (CFTC) is advising crypto companies to self-regulate. The regulator could have rejected the product, but its approval wasn’t required. While the U.S.

Regulation 101

Regulation Bitcoin cryptocurrency blockchain 101

PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. According to the results, banks argue that innovation, not just regulation, is behind the wheel of progress. Optimism Up.

Regulation 156

Regulation Innovation Fintech Marketing 156

CFPB Monitor

APRIL 20, 2022

TUI) and TransUnion, LLC (TULLC)), and a former TUI executive alleging that the defendants violated the CFPB’s 2017 consent order with the corporate defendants. I am concerned that TransUnion’s leadership is either unwilling or incapable of operating its businesses lawfully.”. In addition to requiring payment of $13.9

Compliance 78

Compliance Leadership Report Regulation 78

PYMNTS

NOVEMBER 4, 2020

The seizure stemmed from a cryptocurrency fraud scheme being investigated by Brazilian federal police called Operation Egypto. They reportedly held the funds in a way that would've mandated regulation under Brazilian law, with which Fagundes and the others allegedly didn't comply.

Fraud 234

Fraud cryptocurrency Regulation Operations 234

BankUnderground

JULY 31, 2020

To make regulation proportionate, policymakers adapt regulatory requirements to the risks posed by each firm. But regulators face a trade-off between addressing systemic risks in a proportionate way and limiting regulatory complexity. A threshold could become a barrier to growth if it leads to higher operational costs (e.g.

Regulation 65

Regulation Policies Analysis Capital 65

PYMNTS

JANUARY 15, 2019

Malaysia’s initial coin offering (ICO) regulations are said to take effect on Tuesday (January 15) per a notice from the Securities Commission (SC) in the country, Coindesk reported. At the same time, it was said that those who engage in digital asset dealing will have to follow rules for anti-money laundering (AML), among other regulations.

Bitcoin 108

Bitcoin Regulation New York Video 108

CFPB Monitor

OCTOBER 21, 2021

The CFPB, Federal Reserve Board, FDIC NCUA, OCC, in conjunction with the state bank and state credit union regulators, jointly issued a statement on managing the transition away from LIBOR (Joint Statement). The Joint Statement indicates that in March 2021, the FCA announced that the one-week and two-month U.S.

Regulation 78

Regulation Management FDIC Risk Management 78

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

Gonzobanker

DECEMBER 19, 2017

Heavy-handed regulators. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. Malls, retail stores and even some bank branch closings proliferated in 2017.

Conference 91

Conference Industry Community Bank Community 91

PYMNTS

AUGUST 3, 2020

The Financial Times reported that Wirecard’s relationship with CenturionBet ended in 2017, “when its gambling license was suspended by Maltese authorities and it ceased trading after an anti-mafia raid that saw 68 people arrested.” ‘Ndrangheta operates from the Calabria region in Southern Italy.

Regional 362

Regional Online Fintech Regulation 362

PYMNTS

SEPTEMBER 29, 2020

s license to operate. to run, concluding a 10-month battle between regulators and the ridesharing firm. Uber first lost its license in 2017 when city transportation regulator Transport for London (TfL) accused the firm of regulatory and safety shortcomings. Plus, a London judge has reinstated Uber Technologies Inc.’s

Payments 189

Payments Regulation Capital Online 189

PYMNTS

MAY 30, 2018

Small businesses (SMBs) seeking loans decreased at the end of 2017, and companies felt the sting of financial challenges more acutely. That finding comes care of data gathered by 12 regional Federal Reserve banks in a survey conducted over the third and fourth quarter of 2017.

Lending 115

Lending Community Bank Survey Community 115

PYMNTS

SEPTEMBER 28, 2020

s license to operate on Monday (Sept. 28), ending a 10-month fight between the ride-hailing company and regulators, The Wall Street Journal reported. A London judge reinstated Uber Technologies Inc. 's This decision is a recognition of Uber’s commitment to safety,” the company said. Uber said at the time it had fixed the problem.

Regulation 150

Regulation Groups Data Operations 150

PYMNTS

JULY 5, 2019

Amazon in some ways was the victim of a race run so well that regulators are taking a second look, competitors are loudly complaining and even the courts are taking a tougher line on its business practices. And Amazon’s competitors in retail are working hard to make sure that the regulators take a close enough look.

Regulation 108

Regulation Pennsylvania Retail Report 108

BankUnderground

MAY 15, 2024

What was once far-fetched is rapidly becoming reality, particularly with the emergence of a class of deep learning models based on the Transformer architecture ( Vaswani et al (2017) ), representing a whole new paradigm to language modelling in recent times. Analysing text data forms a core part of regulators’ day-to-day work.

Training 68

Training Regulation Policies Data 68

PYMNTS

JUNE 17, 2020

million — “for failing to put adequate anti-money laundering (AML) systems and controls in place between October 2012 and September 2017,” Britain’s main bank regulator said in a news release on Wednesday (June 17). The FCA investigation relates to the time period of October 2012 to September 2017.

Regulation 130

Regulation Maine Policies Compliance 130

PYMNTS

NOVEMBER 25, 2019

25), London’s transport regulator, Transport for London (TfL), pulled Uber’s license to operate in the city, marking the second time the rideshare giant has been banned there. The company’s license was pulled in London over safety concerns in September of 2017. On Monday (Nov. The issue has also been fixed. 25) afternoon.

New York 130

New York Regulation Operations US 130

Chris Skinner

MARCH 15, 2017

The regulator has tried to encourage more competition in the sector by implying the process to launch a new bank, a challenger bank. Since 2010, 19 new retail and commercial banking licenses have been issued, with at least eight more pending as at January 2017. We’re happy being customers’ second bank.

Regulation 291

Regulation Retail Survey Mobile 291

PYMNTS

AUGUST 14, 2017

The regulators in Europe piled a $2.7 I wrote a whole piece about this several weeks back, where I did a bit of my own piling onto the EU for the reality-challenged arguments behind the fine and its new regulations of Google. billion into Snap since it started in 2012, and its IPO in March of 2017 raised $3.4 Investors put $2.65

Innovation 109

Innovation Online Google Millennials 109

PYMNTS

NOVEMBER 25, 2019

London’s transport regulator, Transport for London (TfL), has yanked Uber’s license to operate in the city, prompting the ride-hailing giant to file an appeal, Reuters reported on Monday (Nov. The company’s license was pulled for the first time in London over safety concerns in September of 2017. Uber says it has 3.5

Operations 150

Operations Regional Regulation Software 150

PYMNTS

JANUARY 24, 2020

In a move that’s been in the works since 2012, the city of Vancouver has approved Uber and Lyft to operate in the city, according to reports. . 23), the city finally acquiesced and both Uber and Lyft are now allowed to operate in the city. . “We The applications for Uber to operate were opened in September of last year. .

Metro 130

Metro Operations Regional America 130

PYMNTS

JANUARY 11, 2021

Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Revolut was granted a European Union banking license in Lithuania in December 2018 and has begun operations in central Europe. The company added bitcoin, ether and litecoin in 2017. 11) that having a U.K. billion valuation.

cryptocurrency 216

cryptocurrency Leadership Bitcoin Fintech 216

PYMNTS

NOVEMBER 12, 2020

as well as 21 European Union (EU) countries — sent a letter to antitrust regulators asking that they throw the book at Google as fast as possible, according to a Reuters statement on Thursday (Nov. The group said it is the biggest collaboration to write to EU antitrust regulators urging a fast response.

Google 158

Google US Comparison Washington 158

PYMNTS

APRIL 9, 2019

The revised list now includes mining for bitcoin among more than 450 other practices that the National Development and Reform Commission said should be removed because they didn’t meet current laws and regulations, were deemed unsafe, wasted resources or harmed the environment. The public comment period ends on May 7, reported Reuters.

Bitcoin 187

Bitcoin cryptocurrency National Regulation 187

PYMNTS

JANUARY 6, 2021

Active bitcoin accounts are approaching the record high reached in December 2017, before the previous bitcoin peak crashed. Compared to 2017, the biggest difference we see is that people are far more active now,” Binance CEO Zhao Changpang told Bloomberg. “If Account users remain confident as well, according to Bloomberg. More than 2.1

Bitcoin 177

Bitcoin cryptocurrency Groups Technology 177

NCR

APRIL 6, 2017

Given the number of regulations they are required to follow when it comes to areas such as data protection – and the high consequences that security breaches can lead to – in past years, many banks may have felt that moving operations to cloud tools would have constituted too high a risk. But things are changing.

Tools 75

Tools Technology Operations Community Bank 75