The White House is attempting to undo decades of sanctions to halt the Iran war. And this has created a problem for banks as they try to figure out the new compliance landscape, Bloomberg News reported Sunday (June 28). The pace and scale of this...
Polymarket is facing a regulatory investigation following reports of an allegedly misleading marketing campaign. The Commodity Futures Trading Commission (CFTC) is engaged in what CNBC described as an “ongoing and extensive” probe into the prediction market, per a Friday (June 26) report. This regulatory inquiry...
The European Central Bank (ECB) has discontinued about 40 supervisory publications and has revised others in an effort to provide simpler guidance and more effective supervision. These moves followed the ECB’s review of more than 130 publications, Frank Elderson, member of the executive board of the ECB and vice-chair of...
Lawmakers spent much of Wednesday wrestling with a question that reaches well beyond faster payments: whether a regulatory framework built for deposit-taking banks can continue to govern a financial system in which software platforms, digital assets and artificial intelligence are reshaping how money moves. The...
Starting next month, new pay later protections go into effect for British consumers. However, companies shouldn’t focus solely on the onset of those regulations, Alison Walters, director of consumer finance for the U.K.’s Financial Conduct Authority (FCA), said in a speech Thursday (June 25) at...
A coalition of publishers of nearly 400 local and regional newspapers has filed a lawsuit against OpenAI and Microsoft, alleging copyright infringement. The lawsuit alleges that the companies stole the newspapers’ copyrighted news articles, used that content to build and train commercial AI products, including ChatGPT and Microsoft Copilot, and reproduced...
European regulators say Amazon’s and Microsoft’s cloud businesses should fall under the Digital Markets Act (DMA). The European Commission said in a Wednesday (June 24) press release that it had informed both tech giants of its preliminary finding that they should be considered “gatekeepers” under the DMA for...
Klarna notified its investors Wednesday (June 24) that a Swedish court has delayed for a third time its judgment in an antitrust case brought by Klarna subsidiary PriceRunner against Google. The Patent and Market Court in Stockholm has rescheduled the publication of its judgment from...
The Consumer Financial Protection Bureau (CFPB) said Wednesday (June 24) that it has made several changes to improve its consumer complaint process, which has been made less effective by a growing number of users who abuse the process. The regulator has developed a standardized process for credit reporting...