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The proposed plan to revamp the region’s digital market policy also includes measures to limit data control by Google, Facebook, Amazon and other Big Tech firms. Europe Big Tech data digital policy EU European Commission News What's HotThe European Commission is planning a single European market for data, in hopes that by pooling talent, the region can compete with Big Tech in Silicon Valley and China, Reuters reported on Tuesday (Feb. MORE
A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. A member of the Board of Governors of the Federal Reserve System, Brainard spoke at the ECB colloquium in Frankfurt on “ Monetary policy: the challenges ahead.” Cryptocurrency cryptocurrency european central bank Libra monetary policy News What's Hot MORE
After making changes to its Android app and terms of service, MoviePass is adding another modification to its platform: Subscribers can now only watch a particular movie through its movie ticket subscription service one time, Android Central reported. “We We recently updated our Terms of Service to reflect that MoviePass subscribers are only permitted to see a select movie in theaters once with your MoviePass,” the company wrote on its website. “We MORE
Crisis management Monetary policy Federal Reserve Dodd-Frank Economy CoronavirusThe Fed must set up a ‘family financial facility’ that sends billions to households and small businesses so banks don’t misdirect relief funds. MORE
Corona Kavach Policy or the COVID Standard Health Policy will be mandatorily offered by all general and Health Insurance companies. Life Insurance companies cannot offer this policy. On the other hand, one can approach any insurer to buy the Corona Rakshak Policy. MORE
While the company had rolled back the policy in April, it has decided to reinstate collecting the initial 2.9 Earlier this year, PayPal updated its User Agreement to change our refund policy,” a PayPal spokesperson told The Verge. “In In line with industry practice, and according to our updated policy, we do not charge fees to process refunds, but when a seller refunds a transaction to a buyer, the fees originally paid will not be returned to the seller. MORE
So it follows that monetary policy decisions can affect happiness too. In a recent working paper we use a novel approach to assess how the unprecedented loosening in monetary policy in response to the 2008 global financial crisis affected the well-being of UK households. MORE
With the new IBM Policy Lab, IBM is looking to regulate artificial intelligence (AI) development in a way that is safe, but does not infringe upon the creation of new technology, reports said. The think tank will gather leaders in several fields — from public policy, academia, civil society and technology. Leclerc is also chairman of the Software Alliance’s Europe, Middle East and Africa Policy Committee. The Policy Lab will be busy. MORE
This post summarises the key literature on the immediate monetary policy response to the shock, including both tools and short to medium-term strategy issues (but leaving aside the longer-term question of fiscal-monetary interactions). Monetary Policy Covid-19 monetary policy MORE
Microsoft and Facebook are grumbling publicly about fellow tech giant Apple ‘s policies restricting access to coveted slots in its App Store, as well as the access given to iPhone and iPad users. MORE
President-elect Joe Biden is set to take over the White House in January, and the financial services industry is awaiting his key decisions around regulation policies and personnel appointments. MORE
But: The bank is keeping an eye on the experiences and progress of other nations, and still is researching its own technological and “policy implications” of wholesale forms of CBDC. MORE
For monetary policy and those interested in inflation dynamics, the implication is that retail prices are becoming less ‘insulated’ from these common nationwide shocks,” Cavallo wrote in the paper. The aforementioned impact of shorter-duration pricing at retailers has implications for monetary policies, according to Bloomberg, as automatic adjustments to what are known as external shocks means that interest rate adjustments by the central bank may lose potency. MORE
Apple has updated Apple Card’s privacy policy to allow more sharing of anonymous data with partner Goldman Sachs, according to a report. The change will separate Apple Card ’s privacy policy from that of Apple Pay; the two used to have identical policies. You may be eligible for certain Apple Card programs provided by Goldman Sachs based on the information provided as part of your application,” Apple’s new policy says. MORE
As the COVID-19 pandemic forces cancellations and postponements of events amid lockdowns, Ticketmaster is being criticized over its refund policy. He said its new refund policy is making it harder for customers to get their money back. Deceptively changing the language of refund policies and excluding postponed or rescheduled events are forms of corporate robbery,” Skoufis told the newspaper in a statement. MORE
Amid millions lost in box office receipts and production costs due to the coronavirus pandemic, Hollywood studios are now aiming to collect on their insurance policies. The insurance industry provides policies that protect studios from unforeseen circumstances.”. Kevelighan continued, “Most of these policies are triggered when there are fires or accidents which either injure performers or damage property on set. MORE
Sabine Lautenschläger, Germany’s representative on the European Central Bank’s executive board, has resigned over the institution’s changes to its monetary policy. Lautenschläger’s decision to step down is proof that there is a deep division within the institution’s top ranks over its recent decision to loosen monetary policy. International european central bank executive board Germany monetary policy News What's Hot MORE
To take on apps that don’t give users information on the use of their personal data, Apple is introducing a new requirement: At the beginning of October, apps will have to have a privacy policy – even those that are in testing, according to reports. 3, 2018, App Store Connect will require a privacy policy for all new apps and app updates in order to be submitted for distribution on the App Store or through TestFlight external testing,” a statement on Apple’s website reads. “In MORE
For instance, an expansion in monetary policy can stimulate housing demand via lower borrowing costs — households typically finance housing with mortgage debt. Apart from this credit channel, monetary policy can also influence housing demand through the collateral or refinancing channel, whereby easier monetary conditions and higher house prices lead to higher home equity. We use monetary policy shocks as a proxy for shifts in housing demand to investigate this question. MORE
The new per-transaction threshold complements the bank’s existing policy of not charging an overdraft fee if a customer’s available balance and ending account balance is overdrawn by $5 or less and no items are returned for non-sufficient funds at the end of processing for that business day. Aiming to boost its reputation after a fake account scandal last year, Wells Fargo announced Tuesday (Nov. 14) the launch of a new overdraft feature that will reduce the hit to customers. MORE
The move by Amazon to reverse policies for its cashierless Amazon Go stores is being seen as a response to growing economic and political pushback against the impact of Silicon Valley on major segments of U.S. and global societies MORE
The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. As a result of the policy changes, CIDs will now provide more information about the laws that might have been violated, as well as specify the activities subject to the CFPB’s authority. CFPB Civil Investigative Demands investigation law enforcement News policy violation What's Hot MORE
TikTok , the popular Chinese short-form mobile video app, is facing more scrutiny over its privacy policies, Bloomberg reported. Last month, the data-protection commission in the Netherlands opened an investigation into TikTok’s policies to protect children’s data, noting the app is popular with Dutch youth, Bloomberg reported. MORE
For Big Tech, there’s just a hint of a bit of a reprieve in Europe. News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. 24 to Dec 2. MORE
Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post. MORE
Also released last week, the EU document has a different focus to the US one, which allowed national FinTech charter bank licenses to be … The post The EU’s policy on FinTech competition is … appeared first on Chris Skinner's blog. I cannot post a 222-page PDF from the US Government on FinTech and competition without also posting a 136-page PDF from the European Commission on FinTech and competition. MORE
EXCLUSIVE—Payment processor Visa has not changed any policies related to the purchasing of bitcoin, the company told Bank Innovation. The company still allows Visa cardholders to make cryptocurrency purchases with “credit, debit, and certain prepaid Visa products,” it said in a statement. This follows reports that Visa, alongside other credit card networks, changed how cryptocurrency […]. MORE
We focus on firm level employment and ask which firms do the most hiring and firing when monetary policy adjusts. Furthermore, do these patterns of responses tell us something about how monetary policy affects the economy? Luckily, existing work can help: we use changes in the price of interest rate futures traded in financial markets in extremely tight windows around monetary policy announcements to get at the surprise, random component of an interest rate decision. MORE
Chief Executive Officer John Neal said that the 330-year-old insurance market is in discussions with automakers about different policies as car ownership changes. While some experts have said that driverless cars may slash the need for auto policies, Neal believes that autonomous vehicles will simply result in demand for a different product — not the end of car insurance. MORE
The Dutch Data Protection Authority (DDPA) in the Netherlands has released its own General Data Protection Regulation (GDPR) fining policy, according to reports , and is the first European Union (EU) country to do so. Arnoud Engelfriet, IT lawyer and partner at Dutch firm Legal ICT, said the Netherland’s policy is a step in the right direction. You wouldn’t set such a policy if you did not intend to issue fines,” he noted. MORE
The Bank makes clear it’s not the opinions of the institution … The post Could central bank digital currencies kill monetary policy? I didn’t realise until the other day that the Bank of England has a blog Bank Underground. Finally, a boring old British bank with a blog. Not a consumer bank of course – none of those blog – but a good old central bank. MORE
How does the transmission of monetary policy depend on the distribution of debt in the economy? Our findings also suggest that the overall impact of monetary policy partly depends on the behaviour of house prices, and might not be symmetric for interest rate rises and falls. We use this state variable as a proxy for the share of people that are financially constrained, and use its variation over time to explore how it affects the economy’s responsiveness to monetary policy. MORE
In total, we estimate that monetary policy increased the birth rate in the following three years by around 7.5%. Thus, when the Bank of England lowered its policy rate 4.5 Our paper uses these pre-determined differences in mortgage choices across local authorities and age groups as a “natural experiment” to examine how monetary policy affects families’ fertility decisions over the next three years. Policy implications. Fergus Cumming and Lisa Dettling. MORE
This post examines how policy in China supported the Chinese economy prior to the Covid-19 pandemic, drawing on a newly developed toolkit. This topic is particularly important for China, where economic developments have a significant impact on the rest of the global economy , but where assessing the full spectrum of policy – monetary, regulatory and fiscal – is difficult. Monetary policy and financial conditions. Chart 1: Broad stance of Chinese policy. Fiscal policy. MORE
We are not looking for any monetary policy changes, but with extra unemployment benefits expiring and COVID-19 cases rising, the central bank will be forced to look past the improvements in the economy since June. [link]. investing.com news item Kathy Lien. MORE
Policies Related Topics BankUnderground
AUGUST 20, 2020
So it follows that monetary policy decisions can affect happiness too. In a recent working paper we use a novel approach to assess how the unprecedented loosening in monetary policy in response to the 2008 global financial crisis affected the well-being of UK households.
BankUnderground
NOVEMBER 16, 2020
This post summarises the key literature on the immediate monetary policy response to the shock, including both tools and short to medium-term strategy issues (but leaving aside the longer-term question of fiscal-monetary interactions). Monetary Policy Covid-19 monetary policy
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
SEPTEMBER 22, 2019
While the company had rolled back the policy in April, it has decided to reinstate collecting the initial 2.9 Earlier this year, PayPal updated its User Agreement to change our refund policy,” a PayPal spokesperson told The Verge. “In In line with industry practice, and according to our updated policy, we do not charge fees to process refunds, but when a seller refunds a transaction to a buyer, the fees originally paid will not be returned to the seller.
Mobile Payments Today
APRIL 11, 2019
The move by Amazon to reverse policies for its cashierless Amazon Go stores is being seen as a response to growing economic and political pushback against the impact of Silicon Valley on major segments of U.S. and global societies
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BankBazaar
AUGUST 3, 2020
Corona Kavach Policy or the COVID Standard Health Policy will be mandatorily offered by all general and Health Insurance companies. Life Insurance companies cannot offer this policy. On the other hand, one can approach any insurer to buy the Corona Rakshak Policy.
PYMNTS
NOVEMBER 20, 2020
For Big Tech, there’s just a hint of a bit of a reprieve in Europe. News came this week that a (virtual) meeting between regulators and Big Tech – which would center on draft proposals that might impact their very operations on the Continent –has been postponed briefly from Nov. 24 to Dec 2.
|
Bank Innovation
FEBRUARY 8, 2018
EXCLUSIVE—Payment processor Visa has not changed any policies related to the purchasing of bitcoin, the company told Bank Innovation. The company still allows Visa cardholders to make cryptocurrency purchases with “credit, debit, and certain prepaid Visa products,” it said in a statement. This follows reports that Visa, alongside other credit card networks, changed how cryptocurrency […].
PYMNTS
APRIL 24, 2019
The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. As a result of the policy changes, CIDs will now provide more information about the laws that might have been violated, as well as specify the activities subject to the CFPB’s authority. CFPB Civil Investigative Demands investigation law enforcement News policy violation What's Hot
PYMNTS
JUNE 10, 2020
TikTok , the popular Chinese short-form mobile video app, is facing more scrutiny over its privacy policies, Bloomberg reported. Last month, the data-protection commission in the Netherlands opened an investigation into TikTok’s policies to protect children’s data, noting the app is popular with Dutch youth, Bloomberg reported.
PYMNTS
FEBRUARY 19, 2020
The proposed plan to revamp the region’s digital market policy also includes measures to limit data control by Google, Facebook, Amazon and other Big Tech firms. Europe Big Tech data digital policy EU European Commission News What's HotThe European Commission is planning a single European market for data, in hopes that by pooling talent, the region can compete with Big Tech in Silicon Valley and China, Reuters reported on Tuesday (Feb.
|
PYMNTS
AUGUST 7, 2020
Microsoft and Facebook are grumbling publicly about fellow tech giant Apple ‘s policies restricting access to coveted slots in its App Store, as well as the access given to iPhone and iPad users.
PYMNTS
JANUARY 22, 2020
With the new IBM Policy Lab, IBM is looking to regulate artificial intelligence (AI) development in a way that is safe, but does not infringe upon the creation of new technology, reports said. The think tank will gather leaders in several fields — from public policy, academia, civil society and technology. Leclerc is also chairman of the Software Alliance’s Europe, Middle East and Africa Policy Committee. The Policy Lab will be busy.
Chris Skinner
AUGUST 5, 2018
Also released last week, the EU document has a different focus to the US one, which allowed national FinTech charter bank licenses to be … The post The EU’s policy on FinTech competition is … appeared first on Chris Skinner's blog. I cannot post a 222-page PDF from the US Government on FinTech and competition without also posting a 136-page PDF from the European Commission on FinTech and competition.
PYMNTS
JANUARY 2, 2020
A European Central Bank (ECB) policy maker is urging banks in the area to find alternatives to Facebook’s proposed cryptocurrency Libra, according to a report by Bloomberg. A member of the Board of Governors of the Federal Reserve System, Brainard spoke at the ECB colloquium in Frankfurt on “ Monetary policy: the challenges ahead.” Cryptocurrency cryptocurrency european central bank Libra monetary policy News What's Hot
PYMNTS
APRIL 17, 2020
As the COVID-19 pandemic forces cancellations and postponements of events amid lockdowns, Ticketmaster is being criticized over its refund policy. He said its new refund policy is making it harder for customers to get their money back. Deceptively changing the language of refund policies and excluding postponed or rescheduled events are forms of corporate robbery,” Skoufis told the newspaper in a statement.
PYMNTS
AUGUST 27, 2018
For monetary policy and those interested in inflation dynamics, the implication is that retail prices are becoming less ‘insulated’ from these common nationwide shocks,” Cavallo wrote in the paper. The aforementioned impact of shorter-duration pricing at retailers has implications for monetary policies, according to Bloomberg, as automatic adjustments to what are known as external shocks means that interest rate adjustments by the central bank may lose potency.
BankUnderground
JULY 17, 2020
This post examines how policy in China supported the Chinese economy prior to the Covid-19 pandemic, drawing on a newly developed toolkit. This topic is particularly important for China, where economic developments have a significant impact on the rest of the global economy , but where assessing the full spectrum of policy – monetary, regulatory and fiscal – is difficult. Monetary policy and financial conditions. Chart 1: Broad stance of Chinese policy. Fiscal policy.
BankInovation
NOVEMBER 12, 2020
President-elect Joe Biden is set to take over the White House in January, and the financial services industry is awaiting his key decisions around regulation policies and personnel appointments.
PYMNTS
SEPTEMBER 17, 2020
But: The bank is keeping an eye on the experiences and progress of other nations, and still is researching its own technological and “policy implications” of wholesale forms of CBDC.
PYMNTS
JUNE 18, 2019
Chief Executive Officer John Neal said that the 330-year-old insurance market is in discussions with automakers about different policies as car ownership changes. While some experts have said that driverless cars may slash the need for auto policies, Neal believes that autonomous vehicles will simply result in demand for a different product — not the end of car insurance.
PYMNTS
SEPTEMBER 26, 2019
Sabine Lautenschläger, Germany’s representative on the European Central Bank’s executive board, has resigned over the institution’s changes to its monetary policy. Lautenschläger’s decision to step down is proof that there is a deep division within the institution’s top ranks over its recent decision to loosen monetary policy. International european central bank executive board Germany monetary policy News What's Hot
PYMNTS
MARCH 24, 2020
Apple has updated Apple Card’s privacy policy to allow more sharing of anonymous data with partner Goldman Sachs, according to a report. The change will separate Apple Card ’s privacy policy from that of Apple Pay; the two used to have identical policies. You may be eligible for certain Apple Card programs provided by Goldman Sachs based on the information provided as part of your application,” Apple’s new policy says.
PYMNTS
APRIL 1, 2020
Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post.
BankUnderground
FEBRUARY 14, 2020
In total, we estimate that monetary policy increased the birth rate in the following three years by around 7.5%. Thus, when the Bank of England lowered its policy rate 4.5 Our paper uses these pre-determined differences in mortgage choices across local authorities and age groups as a “natural experiment” to examine how monetary policy affects families’ fertility decisions over the next three years. Policy implications. Fergus Cumming and Lisa Dettling.
PYMNTS
APRIL 27, 2018
After making changes to its Android app and terms of service, MoviePass is adding another modification to its platform: Subscribers can now only watch a particular movie through its movie ticket subscription service one time, Android Central reported. “We We recently updated our Terms of Service to reflect that MoviePass subscribers are only permitted to see a select movie in theaters once with your MoviePass,” the company wrote on its website. “We
American Banker
MARCH 20, 2020
Crisis management Monetary policy Federal Reserve Dodd-Frank Economy CoronavirusThe Fed must set up a ‘family financial facility’ that sends billions to households and small businesses so banks don’t misdirect relief funds.
Chris Skinner
AUGUST 31, 2016
The Bank makes clear it’s not the opinions of the institution … The post Could central bank digital currencies kill monetary policy? I didn’t realise until the other day that the Bank of England has a blog Bank Underground. Finally, a boring old British bank with a blog. Not a consumer bank of course – none of those blog – but a good old central bank.
PYMNTS
NOVEMBER 15, 2017
The new per-transaction threshold complements the bank’s existing policy of not charging an overdraft fee if a customer’s available balance and ending account balance is overdrawn by $5 or less and no items are returned for non-sufficient funds at the end of processing for that business day. Aiming to boost its reputation after a fake account scandal last year, Wells Fargo announced Tuesday (Nov. 14) the launch of a new overdraft feature that will reduce the hit to customers.
The Bankwatch
JULY 28, 2020
We are not looking for any monetary policy changes, but with extra unemployment benefits expiring and COVID-19 cases rising, the central bank will be forced to look past the improvements in the economy since June. [link]. investing.com news item Kathy Lien.
BankUnderground
MARCH 5, 2020
We focus on firm level employment and ask which firms do the most hiring and firing when monetary policy adjusts. Furthermore, do these patterns of responses tell us something about how monetary policy affects the economy? Luckily, existing work can help: we use changes in the price of interest rate futures traded in financial markets in extremely tight windows around monetary policy announcements to get at the surprise, random component of an interest rate decision.
PYMNTS
AUGUST 31, 2018
To take on apps that don’t give users information on the use of their personal data, Apple is introducing a new requirement: At the beginning of October, apps will have to have a privacy policy – even those that are in testing, according to reports. 3, 2018, App Store Connect will require a privacy policy for all new apps and app updates in order to be submitted for distribution on the App Store or through TestFlight external testing,” a statement on Apple’s website reads. “In
PYMNTS
MARCH 14, 2019
The Dutch Data Protection Authority (DDPA) in the Netherlands has released its own General Data Protection Regulation (GDPR) fining policy, according to reports , and is the first European Union (EU) country to do so. Arnoud Engelfriet, IT lawyer and partner at Dutch firm Legal ICT, said the Netherland’s policy is a step in the right direction. You wouldn’t set such a policy if you did not intend to issue fines,” he noted.
PYMNTS
APRIL 9, 2020
Amid millions lost in box office receipts and production costs due to the coronavirus pandemic, Hollywood studios are now aiming to collect on their insurance policies. The insurance industry provides policies that protect studios from unforeseen circumstances.”. Kevelighan continued, “Most of these policies are triggered when there are fires or accidents which either injure performers or damage property on set.
BankUnderground
JUNE 23, 2020
For instance, an expansion in monetary policy can stimulate housing demand via lower borrowing costs — households typically finance housing with mortgage debt. Apart from this credit channel, monetary policy can also influence housing demand through the collateral or refinancing channel, whereby easier monetary conditions and higher house prices lead to higher home equity. We use monetary policy shocks as a proxy for shifts in housing demand to investigate this question.
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