Two affiliates of J.P. Morgan Chase & Co. — J.P. Morgan Securities (JPMS) and J.P. Morgan Investment Management (JPMIM) — agreed to pay $151 million in combined civil penalties and voluntary payments to investors to settle four enforcement actions brought by the Securities and Exchange...
OpenAI launched ChatGPT’s live web search to compete with Google this week, while the White House announced plans to treat artificial intelligence systems like controlled technology. Meanwhile, researchers discovered concerning accuracy problems with AI transcription tools, highlighting the gap between AI’s promise and its current...
Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar in May 2022 switched to a new and “dysfunctional” digital banking platform that made it...
For almost their entire history, despite designs to the contrary, the primary role of cryptocurrencies and digital assets has been confined largely to trading and speculation. But recent advancements in blockchain infrastructure are positioning digital assets as more functional tools for real-world financial transactions. And...
October 21, 2024
The suit filed last week seeking to stop a new rule from the Consumer Financial Protection Bureau (CFPB) governing buy now, pay later (BNPL) loans has a number of what, to some observers, might be argued as technicalities. But a deeper dive into the suit also finds that the challenge presented by the Financial Technology […]
September 02, 2024
Cue the Beach Boys and Jimmy Buffett. It’s the last week of summer, and while a lot of the banking and payments world was on vacation, we were busy covering...
August 20, 2024
As the regulatory gaze sharpens on FinTechs, the companies themselves are mindful that they need new tools and a new approach to operations, in order to stay on the right...
July 12, 2024
For Apple, the iPhone and the App Store have historically been linchpins for its ecosystem — where the hardware is an onramp to a broad range of services that forge...
November 05, 2024
Apple is set to receive a fine from the European Union’s antitrust regulators, the first company to be sanctioned under the bloc’s new Digital Markets Act (DMA). The EU charged Apple in June for violating its tech rules, Reuters reported Tuesday (Nov. 5), citing sources with direct knowledge of the matter. The fine is likely […]
November 01, 2024
Two affiliates of J.P. Morgan Chase & Co. — J.P. Morgan Securities (JPMS) and J.P. Morgan Investment Management (JPMIM) — agreed to pay $151 million in combined civil penalties and...
October 31, 2024
Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its announcement Thursday (Oct. 31), VyStar...
October 24, 2024
The U.K.’s Competition and Markets Authority (CMA), which is in charge of antitrust regulation, is investigating a partnership between tech giant Alphabet and artificial intelligence startup Anthropic. It will launch...
