The United Kingdom’s Financial Conduct Authority (FCA) is seeking public comment on its proposal to remove the 100-pound (about $129) limit on contactless card payments. The FCA released an engagement paper that outlines several ways the regulator could alter its approach to contactless payment limits...
A stablecoin bill, the GENIUS Act, is headed to the full Senate after being advanced by an 18-6 vote in the Senate Banking Committee. The Thursday (March 13) vote puts bill on a “fast track” in the Senate, as it is a priority of President Donald Trump, Bloomberg reported...
The Federal Trade Commission (FTC) has begun sending more than $934,000 in refunds to consumers after reaching a settlement with online used car dealer Vroom in July. The refunds will compensate consumers who bought cars and were harmed Vroom’s alleged violations of the law, which...
The head of the United Kingdom’s Payment Systems Regulator (PSR) reportedly said Wednesday (March 12) that he had been aware since January that the regulator could be abolished, as Prime Minister Keir Starmer said Tuesday (March 11) that it will be. PSR Interim Managing Director David Geale told a...
The Federal Trade Commission (FTC) said Wednesday (March 12) that it is sending more than $15.5 million in refunds to consumers after reaching a settlement with online career-training company Career Step in July. In its complaint, the FTC alleged that Career Step targeted servicemembers and...
Turns out the appetite for financial deregulation stretches across the Atlantic. U.K. Prime Minister Keir Starmer on Tuesday (March 11) announced plans to abolish the Payment Systems Regulator (PSR). The PSR is roughly equivalent to the Consumer Financial Protection Bureau (CFPB), and the decision is...
The head of Brazil’s tax revenue service, Robinson Barreirinhas, said Tuesday (March 11) that evidence of money laundering may require the country to once again consider requiring FinTechs to report transaction values. Brazil suspended discussions of this proposal last year after a public backlash, Reuters...
Blackstone Credit and Insurance said it gained approval from the Securities and Exchange Commission for its private credit solution that will invest across private corporate credit, asset-based and real estate credit, structured credit and liquid credit. The credit investor plans to make the Blackstone Private...
The deregulation of financial services — and particularly of FinTechs — may be viewed by some as a reaction to overregulation, where innovation has been stifled. Strides are being made in the current administration to chip away at a flurry of regulations and mandates from...
