New China Guidelines Increase Foreign Business Opportunities

PYMNTS

The 30-page draft guidelines published by the National Development and Reform Commission (NDRC) aim to reverse a slowdown of economic growth partially caused by the U.S. The draft guidelines include better protection of intellectual property, equal market access and more support for private businesses and small companies as part of wider plans to stimulate the economy.

Draft Guidelines Clarify GDPR Scope

PYMNTS

As GDPR continues to take root, having an impact in Europe and beyond the confines of the continent, news came late last month that the European Data Protection Board has published draft guidelines that touch on the data protection regulation’s territorial scope. As reported through sites such as Lexology.com, the guidelines help clarify, for non-EU based companies, whether GDPR covers their own operations.

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Reserve Bank Of India Provides Guidelines For Payment Systems

PYMNTS

The Reserve Bank of India (RBI) has set forth guidelines for “on tap” authorization for various payment systems, including the Bharat Bill Payment Operating Unit (BBPOU), Trade Receivables Discounting System (TReDS) and White Label ATMs (WLAs). The Economic Times is reporting that the guidelines include the minimum amount of net worth required, among other guidelines, in an attempt to foster innovation and competition.

Lawmakers Call For Stricter Guidelines On NSA Data Collection

PYMNTS

Regulation amendment data data collection Government guidelines lawmakers News NSA regulation Surveillance warrant What's HotTwo lawmakers want to pass an amendment that aims to stop a massive data collection program run by the National Security Agency (NSA). The bipartisan amendment wants to defund the program unless the government vows that it won’t intentionally collect data of Americans, including emails, messages and browsing data, without a warrant.

UK Retail Banks Draft FinTech Alliance Guidelines

PYMNTS

banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). The new guidelines, developed by the British Standards Institute (BSI), aim to address issues that interfere with FinTech firms and banks forming alliances. Top U.K.

Fed payment guidelines could stifle fintech innovation

BankInovation

Federal Reserve Board guidelines on granting financial institutions access to its new payment system provide some clarity — but could discourage innovative fintechs from joining.

New EU Guidelines Ask Google, Digital Platforms To Disclose Search Ranking Criteria

PYMNTS

European Union (EU) guidelines released on Monday (Dec. The guidelines indicate that online platforms should be asked to explain how their algorithms prioritize some results over others and that they should clearly state when a featured listing was paid for.

Apple Revamps App Store Guidelines For Games, Classes

PYMNTS

Before the anticipated deployment of iOS 14 later in September, Apple updated its App Store guidelines on Friday (Sept. Also, Apple’s guidelines now indicate that digital one-on-one classes, such as exercise instruction, can circumvent the company for payment.

FTC Proposes Substantive Revisions to Advertising Guidelines

CFPB Monitor

Other changes establish principles not previously present in the guidelines. The Federal Trade Commission (“FTC”) is seeking public comment on proposed changes to its guides concerning the use of endorsements and testimonials in advertising.

Fed’s account access guidelines to provide ‘much-needed clarity’

Banking Exchange

The guidelines give Reserve Banks more transparency in reviewing requests to accounts and payment services Compliance Feature3 Feature Compliance Management Compliance/Regulatory.

Hong Kong Monetary Authority Drafts Guidelines for Virtual Banks

Bank Innovation

The Hong Kong Monetary Authority has released draft guidelines for virtual banks looking to set up in the region, the South China Morning Post reported today. The authority, which will issue its final guidelines on the matter in May, is proposing that virtual banks will need to have a minimum of $38.6 million U.S., or […]. Compliance Exclusive Online Financial Regulation Hong Kong Hong Kong fintech virtual banks

RBI Releases Guidelines For Electronic Card Payments

PYMNTS

The Reserve Bank of India has released guidelines for what it calls the “tokenization” of debit and credit card transactions, according to reports. Tokenization will replace card details with a code, called a “token,” which will be specifically for the card, the token requestor and the device being used to pay. Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems.

More PPP Forgiveness Guidelines Unveiled, But Clarity Remains Elusive

PYMNTS

Treasury Department and Small Business Administration (SBA) have tried a few times to clear up the confusion, most recently unveiling new guidelines through a loan forgiveness application. With the new guidelines , firms have to use 40-hour weeks to determine full-time equivalent hours.

Facebook Seeks Clear Guidelines For Data Sharing

PYMNTS

Facebook is asking global regulators to write new data sharing guidelines after the company was compelled to revamp its own approach to the issue, according to a report in the Financial Times.

Auto, Tech Industries Have Competing Patent Guidelines For Autonomous Tech

PYMNTS

Guidelines for patents on self-driving car technology and internet-enabled vehicles have put tech firms and automakers at odds, according to a report by Reuters. The obvious disparities between car makers like BMW and Daimler and tech firms like Qualcomm and Nokia show the future potential for legal problems and antitrust lawsuits regarding the guidelines. The guidelines by the two industries differ in the way licensing fees get calculated, and the rules for using patented tech.

Safeguarding consumer data for banks: Some guidelines for privacy engineering

BankInovation

Open banking requirements add complexity to protecting customer data. Banks need to juggle the complexity of keeping customer data safe and adhering to privacy requirements and expectations — while also sharing data with authorized institutions.

Zuckerberg Talks Guidelines For How To Regulate Facebook

PYMNTS

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported.

Japan Eyes Guidelines For Regulation Of Tech Firms

PYMNTS

In Japan, the Fair Trade Commission said last week that it has draft guidelines in place that would promote tighter regulation of larger tech firms. The guidelines would address concerns over customer data and would impact companies such as Facebook, Apple and Amazon, among others. Under the terms of the draft guidelines, firms would have to disclose to users their reasons for collecting personal data.

European AI guidelines give hesitant developers green light

Bobsguide

European Commission guidelines on the implementation of artificial intelligence (AI) and machine learning (ML) has given developers a green light and quashed industry hesitancy to experiment with new AI solutions, though care must be taken to limit the data needed to train them, say vendors

Wells Fargo restores diversity guidelines after ‘fake interview’ fallout

American Banker

Diversity and equality Crime and misconduct Industry News

How device intelligence tech can help FIs comply with key FFIEC mobile security guidelines

Payments Dive

In April, the Federal Financial Institutions Examination Council released updated security guidelines for mobile banking and payments. Michael Lynch, the chief strategy officer for InAuth, highlights some important parts of the new document that banks need to keep in mind going forward

EU Sets Guidelines To Support Sharing Economy

PYMNTS

And recently, the European Union set out guidelines about its thoughts on how the sharing economy — AKA companies like Uber, Lyft and Airbnb — should be regulated. This new set of guidelines is only advisory and has no true regulatory powers. What the commission will do is use this series of guidelines to help government legislation form a better framework so that national laws don’t violate any of the EU laws.

Bankers embrace new guidelines for ethical AI

American Banker

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos. Artificial intelligence Corporate ethics Corporate governance Risk management Machine learning Consumer banking Commercial banking

China Issues First Guidelines For Ridesharing Industry

PYMNTS

A Cabinet document laid out the guidelines for registrations, fares, employment of drivers and how much they should get paid. Uber, which has operations in greater than 60 cities in China, was happy about the news, saying in a statement that it looks forward to working with both the national and local government in the region to put the new guidelines into practice, while Didi called the rules a milestone in China’s march to develop the ridesharing industry.

Revised HMDA Examination Guidelines Issued

CFPB Monitor

The CFPB recently posted on its website revised Home Mortgage Disclosure Act (HMDA) examination guidelines. The revised guidelines address the exemption adopted in the Economic Growth, Regulatory Relief, and Consumer Protection Act (also known as S.2155) applicable to the new HMDA data categories added by Dodd-Frank and the HMDA rule adopted by the CFPB in October 2015.

CFPB Issues Bank Account Deposit Discrepancy Guidelines

PYMNTS

The agencies said that the interagency guidelines state that the banks should “avoid or reconcile” what is credited to a customer account and how much was deposited. On Wednesday (May 18), the Consumer Financial Protection Bureau said that it, along with four other federal regulatory agencies, issued guidance covering the oversight of consumer deposit discrepancies.

Flywire Offers Guidelines To Help Universities Grow Enrollment In A COVID-19 Era

PYMNTS

To retain and fuel student enrollment for the 2020-2021 academic year, vertical payments company Flywire has unveiled a new framework.

RBI Announces Guidelines for P2P NBFCs

Let's Talk Payments

In the ever so evolutionary space of FinTech, the journey of a market starts with payments and slowly moves on to lending and so on. They come in various shapes. Banking Fintech Insights Lending Loans P2P Asia Europe India insights US

New PPI Draft Guidelines – Shift in Approach?

Let's Talk Payments

For many decades, despite the government’s best efforts, a vast segment of the Indian market was underserved in terms of financial services, including basic banking services. In this context, and. Fintech Mobile Wallet Payments Asia Europe insights US

CFPB’s data-sharing guidelines are a boon for innovation

Payments Source

While the Consumer Financial Protection Bureau was careful to note that the principles were not binding, the industry should still adopt the guidelines going forward. Data ownership Customer data Data transparency Digital banking Payment processing

Fintech Business Model Spotlight: Guideline

CB Insights

The post Fintech Business Model Spotlight: Guideline appeared first on CB Insights Research. GET THE 106-PAGE FINTECH TRENDS REPORT. Download the free report to learn about the biggest trends from fintech in 2018 and ones to watch for 2019. Email. Want the full post? Become a CB Insights customer. If you’re already a customer, login here. Core Intelligence

CFSI Proposes Data Sharing Guidelines

American Banker

The Center For Financial Services Innovation has released a framework it says is designed to spur safe data sharing between banks, fintechs and third-party data aggregators. breaking_news consumer-finance data mobile pfm apis sailthru-no-lead bank-technology

Why India Needs to Strongly Consider Open Banking Guidelines

Let's Talk Payments

To promote the sustainable, broad-based and versatile growth of FinTech. To innovate on the distribution of banking products and services in ways that can directly impact the consumer. There are. Banking India Insights Asia FreeCharge insights Paytm

FIDO Alliance creates user-experience guidelines for online security

American Banker

Authentication Biometrics

White House: New Vaccine Guidelines To Expand To Seniors 65+

PYMNTS

The Trump administration is expected to provide new COVID-19 vaccination guidelines that will include extending vaccine eligibility to anyone 65 years of age and older, CNBC reported on Tuesday (Jan.