The European Commission announced Wednesday (October 10) that it plans to provide European Union states with guidelines for handling national schemes to sell passports and residency permits to wealthy foreigners. Reuters, citing the European Commission, reported that the move comes as lawmakers and those running...
Following a complaint from Citizens Advice, Britain’s competition regulator might investigate financial service and telecom companies. The group had contended that consumers were being “ripped off” if they didn’t switch providers, Reuters reported. The charity claims that customers were being overcharged by $5.2 billion annually....
With cash use still popular in Europe, and the technology behind digital money remaining fragile, the European Central Bank (ECB) doesn’t intend to create a digital currency. Even so, the spread of cryptocurrencies have brought the idea of central banks issuing digital money to light,...
Following scandals at European lenders, the European Central Bank (ECB) wants the European Union (EU) to step up enforcement of anti-money laundering (AML) rules. To that end, the bank recommends that the bloc make a “single agency” for the task as the ideal solution, the Financial...
The EU, in concept, is meant to create a single, free-trade zone where consumers can move goods and services easily and without hassle — all because of the relative peace guaranteed by the harmony of the single market. But, as Trulioo GM Zac Cohen told Karen Webster...
When trying to understand the new eIDAS regulations set to go officially online in the EU in September, it helps, Trulioo GM Zac Cohen told Karen Webster, to take a step back and look at the general purpose of the European Union. If one were...
To help attain financial independence, Europe has reportedly been working on a money transfer system. It would be separate from the prevailing Society for Worldwide Interbank Financial Telecommunication (SWIFT), RT reported. “That won’t be easy, but we have already started to do that,” German minister...
As consumer debt levels in the U.K. are on the rise and debt collection groups are reportedly not paying voluntary contributions, providers of debt advice say they don’t have enough resources to keep up with demand. Official figures are suggesting that more than two million...
The Payments Systems Regulator (PSR), Britain’s official payment watchdog group, has announced it will be reviewing banks that process card transactions on merchants’ behalf to evaluate whether customers are getting the best deal. “Card payments are critical to the smooth running of the U.K. economy....
