American Banker

NOVEMBER 2, 2023

Regulators are looking into practices within JPMorgan's securities arm and investigating parts of its trading operations, according to a regulatory filing by America's largest bank.

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PYMNTS

OCTOBER 14, 2020

The four intended to start a new marketplace software product for the Latin America region. Brazilian regulators, after watching the digital markets of the world develop, decided they don't want a closed-loop market or one dominated by established big tech names.

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PYMNTS

SEPTEMBER 18, 2019

In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. Bank of America, however, has contended that a demand for emails, as well as other records, in March 2019 is unduly burdensome.

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Bank Innovation

MARCH 22, 2017

Regulation is still shaping banks’ strategic thinking, says a new study by The Economist Intelligence Unit. In North America regulation was the top concern. The unit surveyed 200 global banking executives to investigate the challenges retail banks face in the years to 2020.

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American Banker

JUNE 12, 2023

and Canada don't develop a coherent framework for regulating the industry, North America risks broader losses to other growing industries, like fintech and artificial intelligence. If the U.S.

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CFPB Monitor

JANUARY 12, 2023

Bank of America, N.A. in which it argues that a prepaid card loaded with pandemic-related unemployment benefits is a “prepaid account” subject to Regulation E, including its error resolution requirements. The CFPB has filed an amicus brief in Mohamed v.

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PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

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Chris Skinner

JULY 22, 2018

In particular, in a globalised world with a global network where everyone can connect and transact in real-time, anytime, anywhere, the idea of national regulators regulating a system that does not recognise national borders seems counter-intuitive. appeared first on Chris Skinner's blog.

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PYMNTS

DECEMBER 14, 2020

Mexico’s antitrust regulator Cofece has approved the acquisition of grocery delivery platform Cornershop by Uber Technologies, Bloomberg reported on Monday (Dec. Uber started expanding its partnership with Cornershop in July , with some locations in Latin America, U.S. and Canada operating under Uber’s app. . Department of Justice.

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American Banker

FEBRUARY 27, 2024

Supreme Court justices appeared to favor national rules preempting state regulations in the Bank of America in a case regarding mortgage escrow accounts. Some legal experts say the U.S.

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PYMNTS

JANUARY 27, 2020

Regulators are looking into a possible merger between Dean Foods and Dairy Farmers of America (DFA) and its potential antitrust implications for the industry, according to a report by The Wall Street Journal.

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PYMNTS

MAY 30, 2018

What will it take to make Latin America more digital — in payments, commerce, FinTech or even healthcare? Cash remains king in the region, with about two-thirds of consumers in Latin America preferring that payment method over credit, according to estimates. Healthcare seems likely to play a role.

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The Paypers

JULY 15, 2022

Federal regulators have fined Bank of America USD 225 million for ‘botching the disbursement of state unemployment benefits at the height of the pandemic’

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Chris Skinner

JUNE 8, 2016

Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves … The post America’s banking regulations strangle innovations appeared first on Chris Skinner's blog.

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PYMNTS

OCTOBER 8, 2018

According to The Wall Street Journal , the federal derivatives-market regulator also handed out around $900 million in penalties, higher than the amount in five of the eight years of the Obama administration. Total fines ordered through SEC enforcement activity fell 7.2 percent in 2017 to about $3.8

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Chris Skinner

FEBRUARY 22, 2017

Governments want banks to be big and regulated, because governments can then access the data the bank is keeping about their clients. This was very crude compared to today’s world where those who have the most … The post GAFA have already opened banks … just not in America appeared first on Chris Skinner's blog.

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Chris Skinner

JUNE 13, 2016

Here’s his view: Chris thanks, an excellent … The post America’s regulations are not the problem appeared first on Chris Skinner's blog. Nahum and I have corresponded for some time about banking matters and his email sparked various views in my mind.

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Chris Skinner

FEBRUARY 6, 2020

I often talk about how banks have five times more regulation than technology firms.

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PYMNTS

AUGUST 5, 2019

That news has brought out a multitude of regulators, lawmakers and leaders around the globe who are concerned that the currency won’t be regulated closely enough and could potentially upend the global financial market. The ICO statement is signed by numerous authorities in Europe, Africa, Australasia and the Americas.

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PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

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CFPB Monitor

MAY 25, 2023

As the financial services industry continues to monitor the proceedings in Community Financial Services Association of America v. Continue Reading

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PYMNTS

JANUARY 10, 2020

After allegations of patent infringement by Koninklijke Philips and its North American unit, regulators with the United States International Trade Commission (USITC) said they will look into wearable monitoring devices with the inclusion of those made by Garmin and Fitbit , Reuters reported.

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PYMNTS

JUNE 28, 2018

Evidence of that comes from Swift’s Latin America Regional Conference , held earlier this month in Miami. The lack of security cooperation between bankers and regulators also comes up for blame. Mexico suffers the most cyberattacks in Latin America, followed by Brazil, according to the latest analysis from the Wilson Center.

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PYMNTS

JANUARY 10, 2020

After allegations of patent infringement by Koninklijke Philips and its North American unit, regulators with the United States International Trade Commission (USITC) said they will look into wearable monitoring devices with the inclusion of those made by Garmin and Fitbit , Reuters reported.

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American Banker

JUNE 12, 2023

Bank of America had been considering a bid for First Republic after it was seized by regulators, but ultimately dropped out of the process.

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PYMNTS

SEPTEMBER 16, 2019

Regulation could be the answer, some companies have speculated, and Unilever said it is all for tackling the problem aggressively. The 15 percent is an average. There will be some influencers that have 90 to 95 percent of their followers which are real followers. Some are going to have bought half of their followers.”.

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Chris Skinner

NOVEMBER 25, 2019

Things we’re reading today include … Women savers are ‘more loyal to their bank than men’ Bank of America CEO: People still want regulation, security amid tech competition ‘Bank of Mum’ helped fund Prince Andrew’s £13m Swiss chalet Charles Schwab agrees to buy TD Ameritrade for $26bn TSB to close … The post Things worth reading: 26th (..)

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America Regulation Security 312

PYMNTS

JUNE 20, 2018

Peer-to-peer car-sharing services might soon face the same regulation as traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax.

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CB Insights

FEBRUARY 20, 2020

In 6 years, Latin America (LatAm) fintech funding has grown from less than $50M to top $2.1B In this brief, we discuss the key macroeconomic drivers that help explain why the Latin America fintech ecosystem has remained strong despite uncertain market factors. ” The post Latin America Is Suddenly Fintech’s Hottest Market.

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PYMNTS

JULY 23, 2020

Open banking has been picking up steam in Latin America for more than two years. Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. The Pandemic’s Delayed Effects On Latin America.

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PYMNTS

JUNE 30, 2019

Clifford-Toomey was most recently at Deutsche Bank, where she was chief operating officer of the Americas and head of Americas Regulatory Transformation. She previously worked at Bank of America, Pricewaterhouse Coopers and J.P. Norton continued, “We are pleased to have her join our team and help lead our risk transformation.”.

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PYMNTS

MAY 12, 2016

I do think if the next president does the right things around immigration, corporate and individual tax reform, proper infrastructure spending, America will be booming.”. Small business, middle market, large companies. I mean there is no question that it is part of what is slowing down the American economy.” And I agree with that.”

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PYMNTS

JULY 2, 2018

Just a few weeks in, the data privacy law that has just taken root in the European Union already has some regulators seeking exemptions around the globe. Pertaining to investigations, the regulation – which took effect on May 25 – places restrictions on the data that can be shared internationally in the “public interest.”

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American Banker

SEPTEMBER 29, 2023

Shinhan Bank America faces a $15M penalty for willful BSA violations linked to inadequate BSA/AML monitoring that the Financial Crimes Enforcement network said enabled tax evasion, corruption and money laundering to flow through the institution.

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FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? In banking and financial services within North America, our research shows that AI is an even higher priority now than 12 months ago for 52% of financial services organisations.

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PYMNTS

JULY 24, 2020

Open banking is often associated with the European Union (EU) almost by default as the region pushes the envelope further on regulation than anywhere, partly to encourage — but also to keep up with — imaginative FinTech innovators going to market throughout the Eurozone. FinTechs Flourishing. Similarities To The EU.

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PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. If Starbucks goes under, the individual has lost the $20 they have put on the card.

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