PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. The risk and safety lines with AI in China in the finance sector appear to be blurring.

Regulation 202

Regulation Groups Policies Big Data 202

PYMNTS

DECEMBER 23, 2020

In the wake of the collapse of its initial public offering of stock (IPO), China’s Ant Group is scaling back the borrowing limits for some of the young users of Huabei. Ant Group is best known for its wildly popular payment and loans app Alipay , which has both online and mobile platforms. Now, the future of Ant Group is up for debate.

Groups 242

Groups Cards Regulation Fintech 242

CFPB Monitor

DECEMBER 13, 2022

On December 2, a non-profit advocacy organization filed a lawsuit in a California federal district court seeking to enjoin the California Department of Financial Protection and Innovation (DFPI) from enforcing the final regulations (Regulations) issued by the DFPI to implement.

California 147

California Regulation Groups Innovation 147

PYMNTS

DECEMBER 20, 2020

Alibaba billionaire Jack Ma told Chinese regulators in November that he would give portions of Ant Group , the FinTech he founded, to the country's government in what so far has appeared to be an unsuccessful effort to make peace with authorities in the country, The Wall Street Journal (WSJ) reported.

Groups 278

Groups Report Regulation Meeting 278

PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

Regulation 352

Regulation social media Course Apple 352

CFPB Monitor

JANUARY 4, 2024

Revenue Based Finance Coalition (RBFC), a trade group whose members include non-banks that provide sales-based financing to businesses, filed a lawsuit last week against the CFPB in a Florida federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank. Continue Reading

Lending 146

Lending Groups Florida Regulation 146

PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

Regulation 227

Regulation social media Video Groups 227

PYMNTS

AUGUST 14, 2020

Ahead of an intended initial public offering (IPO), Alibaba Group Holding’s Ant Group has conducted a preliminary filing with the securities watchdog of China, Reuters reported. The news service reported that the move hints that the two Chinese investment institutions will be heading up the group’s onshore offering.

Groups 262

Groups Security Report Regulation 262

PYMNTS

SEPTEMBER 28, 2020

Ant Bank, the virtual banking division of Hangzhou, China-based Ant Group , has launched banking services in Hong Kong, Fintech News reported. The launch comes a few weeks after Ant Group filed its initial public offering (IPO), which could be the biggest listing in the country’s history. billion yuan ($10.5

Groups 272

Groups Fintech Mobile Report 272

PYMNTS

DECEMBER 27, 2020

Financial regulators in China are moving to curb the influence of Jack Ma 's Ant Group by telling it to switch focus back to its mainstay payments business while fixing issues in personal lending, wealth management and more, The Wall Street Journal (WSJ) reports. The People's Bank of China criticized Ant on Sunday (Dec.

Groups 225

Groups Regulation Payments Lending 225

CFPB Monitor

SEPTEMBER 22, 2022

Expressing a range of concerns, several key industry groups submitted comments to the Federal Trade Commission (“FTC”) last week regarding its proposed rule that would impose new substantive and disclosure obligations on auto-dealers in the auto finance process.

Regulation 148

Regulation Groups Customer Experience Retail 148

CFPB Monitor

FEBRUARY 12, 2024

The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic regulatory approach” for regulating EWA products.

Groups 97

Groups Fintech Regulation 97

PYMNTS

OCTOBER 12, 2020

FinTech company Ant Group continues to press toward having the biggest initial public offering (IPO) ever, with returns at an estimated $35 billion. Ant Group is the online payment affiliate of China-based Alibaba Group Holding. Ant Group gets most of its revenue from consumer loans made on the Alipay payments app.

Groups 205

Groups Operations Online Fintech 205

PYMNTS

NOVEMBER 3, 2020

Jack Ma has seen his net worth plunge by $3 billion after the Ant Group double initial public offering (IPO) was suspended on Tuesday (Nov. 3) by Chinese regulators, according to a report from Business Insider , which quoted numbers from Bloomberg's Billionaire Index. 5) as originally planned. Ma also owns 4.2

Groups 160

Groups Regulation Meeting Lending 160

PYMNTS

JANUARY 7, 2021

China’s Ant Group is mulling the creation of a new consumer loan unit that would allow it to continue making loans throughout the country while complying with new Chinese banking regulations. Ant Group had planned to go public for $35 billion, which would have made it the largest IPO in market history. On Tuesday (Jan.

Groups 141

Groups Regulation Lending Operations 141

CFPB Monitor

MAY 25, 2023

Consumer Financial Protection Bureau , an industry group composed of the Mortgage Bankers Association (MBA), National Association of Home Builders (NAHB), and National Association of REALTORS® (NAR) has filed a brief as amici curiae cautioning the Supreme Court against a ruling that could call into question all of the CFPB’s regulations.

Groups 78

Groups Industry Regulation National 78

Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. What’s Next? But please, don’t get cocky.

Regulation 179

Regulation blockchain Marketing Strategy 179

PYMNTS

JULY 8, 2020

Ant Group, the online payment service affiliate of China’s Alibaba Group Holding Ltd, is looking to go public as early as this year, Reuters reported. . Ant Group was launched in 2014 to provide global financial services. If the IPO moves ahead, one of the sources said it would be one of the world’s biggest listings this year.

Groups 175

Groups Report Capital Regulation 175

TheGuardian

MARCH 6, 2024

Coalition of advocacy groups warn that deal would ‘further concentrate risk’ in the financial system and ‘must be stopped’ Regulators have been urged to block Capital One’s $35bn takeover of Discover by campaigners who say the blockbuster deal is “dangerous, illegal, and must be stopped”. Continue reading.

Groups 69

Groups Capital US System 69

PYMNTS

OCTOBER 22, 2020

Ant Group has won the nod from China's top security regulators for its Shanghai offering, the last hurdle to clear for the $35 billion dual listing, Reuters reports. Ant, the FinTech backed by China's Alibaba Group, plans to list simultaneously in Hong Kong and Shanghai in the next few weeks, according to sources quoted by Reuters.

Groups 175

Groups Capital Regulation Fintech 175

PYMNTS

SEPTEMBER 21, 2020

Ant Group , the online payment provider for China-based Alibaba Group Holding Ltd., 18), Shanghai regulators approved Ant Group’s request to proceed with its IPO share sale. Ant Group declined to comment in an emailed statement. The news comes as Ant Group gained profits of $1.3 On Friday (Sept.

Groups 141

Groups Capital Regulation Operations 141

Bank Innovation

OCTOBER 31, 2017

Exchange operator CME Group has announced plans to launch bitcoin futures in the fourth quarter. The launch of these futures is pending approval by regulators, according to a […].

Bitcoin 255

Bitcoin Groups Regulation Operations 255

The Paypers

NOVEMBER 26, 2021

Fintonia Group , a Singapore-based fund manager regulated by the Monetary Authority of Singapore (MAS), has launched two institutional-grade Bitcoin (BTC) funds.

Groups 65

Groups Regulation Bitcoin Management 65

PYMNTS

JANUARY 20, 2021

The Chinese government is preparing to crack down on what it views as antitrust behavior in the payments sector by tech giants such as Ant Group and Tencent Holdings. Payment companies that already possess state licenses will be given one year to comply with the new regulations.

Regulation 175

Regulation Payments Video Groups 175

CFPB Monitor

AUGUST 24, 2022

In response to the CFPB’s Request for Information Regarding Relationship Banking and Customer Service (RFI), three leading banking trade groups have submitted a comment letter in which they challenge the CFPB’s legal authority for the RFI. The CFPB described the RFI as an “initiative to improve customer service at big banks.”.

Groups 78

Groups Regulation Tools Policies 78

PYMNTS

DECEMBER 2, 2020

China’s Ant Group, which owns the widely used Alipay payments app, is looking at selling its 30 percent stake in India’s Paytm as friction between the two countries grows, sources told Reuters. Reuters said Paytm, which is partly backed by Japan’s SoftBank Group Corp., Like Alipay, Paytm is a digital payments platform.

Groups 179

Groups Report Regulation Fintech 179

PYMNTS

JULY 7, 2019

According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. Facebook chose to incorporate the group that will govern Libra in Switzerland.”. The move comes as U.S.

Regulation 205

Regulation cryptocurrency Bitcoin Washington 205

PYMNTS

NOVEMBER 3, 2020

One of Sweden’s largest private insurers, Folksam Group , says a data breach affected one million of its clients. The firm said it discovered the breach after an internal audit and that it has reported the breach to Swedish regulators.

Groups 255

Groups Data Report America 255

PYMNTS

DECEMBER 27, 2020

The Chinese government’s previously announced antitrust investigation of Alibaba Group Holding Ltd. China’s State Administration for Market Regulation posted a notice on its website Thursday (Dec. The pressure was sufficient to scuttle what was expected to be a huge initial public offering by Ant Group.

Regulation 206

Regulation Marketing Groups Report 206

Bank Innovation

JANUARY 5, 2020

Beyond Consortium, led by one of Asia’s largest massage chair makers, V3 Group Ltd. Two more consortiums said they submitted bids for digital banking licenses in Singapore as companies, ranging from a massage chair maker to a property giant and Chinese fintech firms, joined forces to go for the sought-after permits.

Digital Banking 300

Digital Banking Groups Fintech Cards 300

PYMNTS

JULY 31, 2020

The People’s Bank of China, the nation’s central bank that regulates financial institutions, has alleged the digital payment companies have used their strong positions to crush competition, sources told the news service. China’s eCommerce superstore, and WeChat Pay, a division of Tencent Holdings Ltd., Reuters reported.

Regulation 181

Regulation Groups Online Analysis 181

CFPB Monitor

MAY 24, 2021

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. This year, Chambers USA added Enforcement & Investigations as a new category for Financial Services Regulation: Consumer Finance.

National 148

National Groups Regulation Compliance 148

Perficient

APRIL 2, 2021

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Payments Source

FEBRUARY 3, 2021

Ant Group and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.

Regulation 128

Regulation Groups Capital Fintech 128

PYMNTS

MARCH 22, 2019

Thirty-four percent of businesses are using IoT in their operations, according to a recent study, and 70 percent of that group have moved beyond pilot testing to actual adoption. With increased adoption, though, comes a need for improved regulations, and both the European Telecommunications Standards Institute (ETSI) and U.S.

Regulation 189

Regulation Security Data Industry 189

PYMNTS

SEPTEMBER 17, 2019

Huobi Group has announced the official launch of a digital asset exchange in Argentina. Compliance is actually one of the biggest barriers to entry for small businesses in any highly regulated industry,” the company wrote in a blog post. Financial services businesses bear some of the highest compliance costs of any industry.

blockchain 108

blockchain Regulation Groups Bitcoin 108

Accenture

APRIL 26, 2022

Now, regulations that would improve the transparency of ESG ratings have just moved closer. The International Regulatory Strategy Group (IRSG), in the UK, has declared its support for the regulation…. But too often these sustainability assessments are opaque and inconsistent.

Regulation 405

Regulation Strategy Groups Company 405