The end of the month is speeding toward the buy now, pay later (BNPL) industry — and with it, new rules and regulations regarding consumer disputes and new operational burdens in the drive toward compliance. The Consumer Financial Protection Bureau’s (CFPB) rule classifying BNPL as...
Traditional financial operations are centralized, regulated and audited. Blockchain technology and cryptocurrencies are, well, pretty much the opposite, relying instead on cryptographic algorithms and decentralized consensus mechanisms to secure transactions. But despite the sector’s troubled youth, as the blockchain and digital asset space matures, major...
From Washington to Brussels, policymakers are scrambling to rein in artificial intelligence’s (AI) rapid advance. As the Federal Communications Commission (FCC) targets AI-powered robocalls and the EU’s landmark AI Act looms, experts warn that smart regulation is crucial to harness AI’s potential while guarding against...
When the U.S. Supreme Court overturned its own 40-year-old ruling in the LoperBright Enterprises v. Raimondo case on June 28 — in what has come to being popularly tagged SCOTUS v. Chevron — the reaction was split. On one hand, some politicians and legal experts...
July 17, 2024
When the U.S. Supreme Court overturned its own 40-year-old ruling in the LoperBright Enterprises v. Raimondo case on June 28 — in what has come to being popularly tagged SCOTUS v. Chevron — the reaction was split. On one hand, some politicians and legal experts were outraged that an activist court attacked what it saw […]
July 12, 2024
Prudent regulation is needed in helping to define the risks and rewards in emerging partnerships between financial institutions and banks — but current regulatory efforts may be too vague, critics...
July 12, 2024
As Walmart looks to hold its own against Amazon’s growing lead in retail, the company is leaning into its food and beverage stronghold, leveraging automation to scale its omnichannel grocery...
July 08, 2024
As the banking and payments business cross into the second half of 2024, many executives say we’re at a pivotal juncture — one that will require a steady hand on...
July 15, 2024
Two United Kingdom regulators have begun gathering information on the benefits and risks of digital wallets for people and businesses. The Payment Systems Regulator (PSR) and Financial Conduct Authority (FCA) launched a joint call for information “from a wide range of stakeholders,” according to a Monday (July 15) press release. After analyzing all the responses they receive, the regulators […]
July 15, 2024
Banks in Australia are issuing $19 million in refunds to low-income customers. The move follows an investigation by the Australian Securities and Investment Commission, which said in a Monday (July...
July 15, 2024
A Polish regulator fined PayPal $27.3 million over allegedly “unprecedented” user agreement violations. The Office of Competition and Consumer Protection (UOKiK) said in a Monday (July 15) press release that...
July 12, 2024
The Federal Trade Commission (FTC) warned franchisors Friday (July 12) that non-disparagement clauses and the imposition of previously undisclosed fees are against the law. The regulator highlighted these practices in...
