Legal & Regulation

Legal & Regulation
SoLo Funds ‘Blindsided’ by CFPB Lawsuit
May 17, 2024

The Consumer Financial Protection Bureau sued SoLo Funds, alleging that the online lending platform used “digital dark patterns” to illegally collect fees from borrowers. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

Bank Regulation
Bill Raising Asset Thresholds for Banking Regulations Heads to House Vote
May 17, 2024

The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...

Legal & Regulation
UK Antitrust Regulator Won’t Investigate Microsoft-Mistral AI Partnership
May 17, 2024

The United Kingdom’s Competition and Markets Authority (CMA) will not investigate Microsoft’s partnership with artificial intelligence (AI) startup Mistral AI. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

AML
Treasury Department to Use ‘Automation and Innovation’ to Fight Illicit Finance
May 16, 2024

The Department of the Treasury has outlined the priorities it will pursue this year to step up the fight against illicit finance. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...

CFPB
Supreme Court Ruling on CFPB Paves Path for Open Banking
May 16, 2024

Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...

Legal & Regulation
Lawmakers Urge Regulators to Make Financial Data More Accessible
May 16, 2024

Members of Congress from both houses and both parties sent a letter Tuesday (May 14) to the heads of eight federal financial regulatory agencies, urging them to implement the Financial Data Transparency Act (FDTA). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

CFPB
Supreme Court Rules CFPB Funding Mechanism Constitutional
May 16, 2024

The Supreme Court ruled Thursday (May 16) that the Consumer Financial Protection Bureau’s funding mechanism is constitutional. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...

Legal & Regulation
UK Relaxes ‘Land-Based Gambling’ Rules as Online Betting Grows
May 16, 2024

The British government is loosening its rules for brick-and-mortar betting businesses as online gambling grows. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...

CFPB
CFPB Pays $384 Million to Victims of Think Finance Scheme
May 14, 2024

Eleven years ago, Think Finance was named one of Forbes’ most promising companies. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By...