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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Washington Regulation Software Examples 229

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. The Value Of CBDC .

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

Perficient

OCTOBER 27, 2022

In addition, the regulators are trying to keep as many resolution options as possible open for the FDIC to resolve a firm in a way that minimizes the long-term risk to the Deposit Insurance Fund (DIF).

Capital 275

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PYMNTS

NOVEMBER 27, 2020

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. One recent survey, for example, showed that 32 percent of consumers in the U.K.

Compliance 198

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PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. The regulators added that agencies choosing to tap into alternative data should do so judiciously.

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PYMNTS

JULY 2, 2020

The president of the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator, said the $2.1 But EY, Hufeld and regulators are facing scrutiny over how the once high-flying company managed to escape the industry’s standard accounting rules. It is plain vanilla, old-fashioned criminal behaviour,” Felix Hufeld said.

Regulation 142

Regulation Fraud Report Community 142

PYMNTS

JULY 1, 2020

Keeping up with customers’ shifting behaviors and preferences amid changing regulations is a familiar challenge for today’s small- to medium-sized businesses (SMBs), but the pandemic’s impact on the scale of digital payments has steepened the learning curve for these merchants. One study found that card-not-present (CNP) transactions rose 29.7

Regulation 160

Regulation Payments Study Online 160

American Banker

NOVEMBER 29, 2023

The Port Angeles, Washington-based bank said it has already invested "significant resources" into enhancing its compliance management for fintech partnerships, after self-reporting a problem last year.

Examples 88

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PYMNTS

MARCH 11, 2020

Consumer advocates are pushing federal banking regulators to do something about rent-a-banks with notoriously sky-high loan rates that prey on people with bad credit, the Wall Street Journal (WSJ) reported on Wednesday (March 11). OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website.

Lending 145

Lending Regulation South Dakota Utah 145

PYMNTS

AUGUST 6, 2020

are made with cash , for example, and 63 percent of consumers have at least two credit cards. Corporates crave fast payments from banks, but financial institution (FI) payments are often hamstrung by regulations and cross-border frictions that FinTechs do not face. Only 26 percent of all consumer purchases in the U.S.

Regulation 245

Regulation Payments Innovation Fintech 245

PYMNTS

JUNE 7, 2018

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering. It was the second major case new CEO Matt Comyn settled with regulators in a month, following an admission of rate manipulation.

Regulation 162

Regulation Fintech Examples Industry 162

CFPB Monitor

JUNE 29, 2023

After discussing the meaning of “regulation by enforcement,” we look at examples of the use of regulation by enforcement by the CFPB and other agencies, U.S. Continue Reading

Regulation 78

Regulation Pennsylvania Examples 78

PYMNTS

JANUARY 24, 2019

With concerns mounting over the use of facial recognition technology to monitor people and intrude on privacy, Microsoft Chief Executive Satya Nadella said he supports regulation of the technology. He noted that self-regulation is still very important but laws may be needed to prevent any harmful outcomes the technology could have.

Regulation 144

Regulation United States Samsung Technology 144

PYMNTS

MARCH 15, 2016

Government eProcurement and digital invoice mandates set an example for an economy overall, helping private businesses understand the process of and benefits to implementing digital procurement, payment and accounting procedures. Governments may be an example to the public sector, but if the U.K. But new analysis from the U.K.

Examples 100

Examples Analysis Policies Regulation 100

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

PYMNTS

JANUARY 22, 2020

By way of example, the total of U.S. Separately, IBM CEO Ginni Rometty told CNBC from Davos that artificial intelligence should be subject to “precision regulation … you want to have innovation flourish and you’ve got to balance that with security.” Right now people think central banks around the world can do whatever they want.

Taxes 131

Taxes Regulation Conference National 131

PYMNTS

MARCH 3, 2020

Andrew Tyrie, chairman of the Competition and Markets Authority (CMA), a competition regulator in the U.K., said his fellow regulators have been too soft on digital mergers, and consumers have suffered as a result, according to the Financial Times. He also called for stronger abilities to go after large tech companies.

Regulation 140

Regulation Conference Taxes Marketing 140

PYMNTS

DECEMBER 27, 2019

The move signals that Big Tech companies and their acquisitions are going to be under more and more scrutiny as regulators from countries all over the world continue to open investigations. Competition and Markets Authority (CMA) over potential anti-competition issues, according to a report by Bloomberg. A homegrown U.K.

Regulation 130

Regulation Marketing Online Examples 130

PYMNTS

SEPTEMBER 2, 2020

Hufeld’s comments come one day after the Bundestag announced it plans to hold an inquiry into regulators’ failure to prevent the biggest corporate fraud since World War II. For example, the audit process and the tasks, powers and liability of auditors should be reconsidered.”.

Regulation 175

Regulation Fraud Report Examples 175

PYMNTS

NOVEMBER 10, 2020

The announcement did not specify the regulations, but it did note that the approach will ensure that the CBDC meets “the same minimum standards we expect of other payment methods.”. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

cryptocurrency 167

cryptocurrency Regulation Bitcoin Colorado 167

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

SEPTEMBER 29, 2021

The New York Department of Financial Services has issued a proposed regulation to implement S 5470–B , which requires consumer-like disclosures for “commercial financing” transactions of $2.5 The proposed regulation would give the provisions added by S 5470-B to the Financial Services Law the title “Commercial Finance Disclosure Law” (CFDL).

Regulation 78

Regulation New York California Examples 78

Chris Skinner

JUNE 24, 2019

Many banks dismissed the idea back then as “the regulator wouldn’t allow it”. Then the regulator did allow it in some countries, but banks were confused about the regulatory position. For example, if they use cloud services … The post What is banking in the cloud? appeared first on Chris Skinner's blog.

Regulation 387

Regulation Examples Digital Banking Fintech 387

PYMNTS

DECEMBER 10, 2018

Some banks are becoming increasingly sophisticated in their approaches to identifying suspicious activity, commensurate with their risk profiles — for example, by building or enhancing innovative internal financial intelligence units devoted to identifying complex and strategic illicit finance” said the agencies in their joint statement.

Regulation 172

Regulation Fintech FDIC National 172

PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

Regulation 133

Regulation Fintech cryptocurrency Bitcoin 133

BankUnderground

DECEMBER 19, 2022

Following the Global Financial Crisis of 2007–08, some regulators introduced rules on bankers’ bonuses with an aim to mitigate incentives to take excessive risks, and in turn promote financial stability. Following the crisis, regulators introduced remuneration requirements aiming to remedy this. Ieva Sakalauskaite and Qun Harris.

Regulation 94

Regulation Analysis Study Policies 94

CFPB Monitor

SEPTEMBER 22, 2022

The public comment period for the notice of proposed rulemaking (“NPRM”) regarding the Motor Vehicle Dealers Trade Regulation Rule (the “Rule”) closed on September 15, 2022 after the FTC declined in August to extend it. The comments from AFSA, CBA, and NADA were among the close to 27,000 comments on the proposed Rule received by the FTC.

Regulation 148

Regulation Groups Customer Experience Retail 148

PYMNTS

OCTOBER 16, 2019

16), saying, “It’s time for Congress to regulate the industry.”. Why, for example, should a flashlight app have your location data?” There’s no good reason that companies won’t be able to comply with reasonable regulation,” he said. But even in the best of circumstances, that oath is voluntary.”.

Regulation 100

Regulation Data New York Examples 100

CFPB Monitor

JANUARY 16, 2024

In remarks to the press and public on January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda”, including proposed actions to “strengthen consumer protections against unfair business practices” and “establish nation-leading regulations for the Buy Now Pay Later loan industry”.

New York 156

New York National Regulation Examples 156

American Banker

OCTOBER 2, 2023

Citing Silicon Valley Bank as an example of being ill prepared, Federal Reserve Vice Chair for Supervision Michael Barr says the central bank can only serve as lender of last resort if banks are "ready and able" to borrow.

Regulation 85

Regulation Examples Policies Compliance 85

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.

Regulation 100

Regulation San Francisco Maryland Illinois 100

CFPB Monitor

FEBRUARY 13, 2020

On February 7, 2020, the California Attorney General’s (AG) Office released modifications to the proposed regulations to the California Consumer Privacy Act (CCPA). The modifications incorporate amendments to the CCPA signed into law after the AG’s Office issued the proposed regulations in October 2019.

California 78

California Regulation Compliance Guidelines 78

Abrigo

JANUARY 8, 2016

In addition to the challenges tied to staffing, training and time allocation, however, government auditors also described industry participants’ concerns about potential “trickle-down effects” on smaller institutions as a result of current or future regulations aimed at larger banking institutions.

Regulation 150

Regulation FDIC Survey Community Bank 150

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.

Regulation 103

Regulation Bitcoin Innovation Study 103

PYMNTS

OCTOBER 5, 2018

In the rundown of how individual countries rank, in terms of regulators levying fines on people and corporations, the United States tops the list. Activity in Europe was bolstered by more active enforcement by regulators such as the European Commission, Central Bank of Ireland and France’s Autorité des Marchés Financiers.

Regulation 128

Regulation US United States Compliance 128

PYMNTS

OCTOBER 16, 2019

16), saying, “It’s time for Congress to regulate the industry.”. Why, for example, should a flashlight app have your location data?” There’s no good reason that companies won’t be able to comply with reasonable regulation,” he said. But even in the best of circumstances, that oath is voluntary.”.

Regulation 100

Regulation Data New York Examples 100