On Thursday April 7, the Federal Deposit Insurance Corporation (FDIC) announced that it will require all the institutions that it supervises to notify if they are engaged or intent to engage in any activity involving or related to crypto assets. The FDIC will review the...
The European Central Bank (ECB) plans to end easy collateral terms that commenced at the start of COVID-19 and tighten banks’ access to liquidity, the bank announced Thursday (March 24). Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The U.K. Competition and Markets Authority (CMA) on March 21 sent two letters to Barclays and Lloyds to communicate the regulator’s concerns about breaching their open banking obligations set out in the Retail Banking Market Investigation Order 2017 (the Order). Get the Full Story Complete...
The United Kingdom’s banking regulator has ruled that Barclays Bank UK Plc has failed to make available accurate, comprehensive and timely information on its products and services through its Open Banking application programming interfaces (APIs). Get the Full Story Complete the form to unlock this...
The Financial Crimes Enforcement Network (FinCEN) has announced a $140 million civil money penalty against USAA Federal Savings Bank for “willful violations” of the Bank Secrecy Act (BSA). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
In July 2021, the U.K. Competition and Markets Authority (CMA) mandated the use of variable recurring payments (VRPs) as a mechanism to allow the automatic transfer of money between a customer’s own accounts (known as Sweeping). Get the Full Story Complete the form to unlock...
Paytm CEO Vijay Shekhar Sharma said investors in his firm do not have access to customer data, in a bid to ease concerns over reports of user information being leaked to Chinese firms, Reuters reported Tuesday (March 15). Get the Full Story Complete the form...
Paytm Payment Bank is being audited by the Reserve Bank of India (RBI) over allegations that it engaged in data sharing with organizations based in China and also failed to have adequate know-your-customer documentation, Bloomberg reported on Monday (March 14), citing an unnamed source. Get...
On Tuesday, the Federal Reserve published an updated proposal for its guidelines to evaluate requests for accounts and services at Federal Reserve Banks. The new proposal, which adds a new chapter to the original guidelines published in May 2021, creates a tiered system based on...
