The European Banking Authority (EBA) published on Thursday, June 23 an opinion in response to the European Commission’s call for advice on the upcoming review of the Payment Services Directive (PDS2). The opinion, far from being a mere reply to fulfill its statutory duties, contains...
The Swedish Financial Supervisory Authority has granted TF Bank’s Swedish subsidiary TFB Service AB a license to operate as a deposit-taking financial institution. With this license, the Nordic division of the company’s eCommerce payment solution, currently operating under the Avarda brand, can be transferred to...
The European Banking Authority (EBA) published on Wednesday, June 15, its Annual Report which describes in detail the activities and achievements of the Authority in 2021 and provides an overview of the key priorities for the coming year. Get the Full Story Complete the form...
The Federal Reserve Board published in March an updated proposal for its guidelines to evaluate requests for accounts and services at Federal Reserve Banks. The new proposal, which added a new chapter to the original guidelines published in May 2021, creates a tiered system based...
The U.K. Financial Conduct Authority has put Credit Suisse on a watchlist of companies needing tougher supervisions, a Financial Times (FT) report says. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
Financial regulators have yet to publish a comprehensive set of artificial intelligence (AI)-related rules, as most of the efforts have focused so far on guidelines and principles for financial institutions to make good use of AI. However, senior banking regulator officials warned on Friday (June...
Sen. Sherrod Brown, the chairman of the Senate Banking Committee, said in a letter to Wells Fargo CEO Charles Scharf that the bank has failed to repair its government and risk management problems. Get the Full Story Complete the form to unlock this article and...
Michael Hsu, Acting Comptroller of the Office of the Comptroller of the Currency (OCC), told an audience at a crypto event on Tuesday, May 24 that the recent events with TerraUSD and other stablecoins are clear evidence that the crypto economy is dependent on hype. ...
The Federal Reserve Board on Thursday (May 19) finalized a rule that governs funds transfer over the Federal Reserve Bank’s FedNow services. The final rule is substantially similar to a proposal from last year, but some of the clarifications provided by the Fed will allow...
