The British government shared plans to loosen so-called “ringfencing” rules for the country’s banks, the Financial Times reported Monday (May 18). The rules require banks to keep their retail business separate from potentially riskier activities, the report said. Lucy Rigby, chief secretary to the Treasury,...
A federal judge ordered payment processing company Cliq to pay $6.5 million in a long-running case related to its fraud prevention measures. The court found that the company violated a court order related to a 2015 case brought by the Federal Trade Commission, according to...
Cybersecurity, a voluntary digital ID and protections for small businesses will be the subjects of bills introduced in the United Kingdom’s Parliament. These bills were highlighted in the King’s Speech delivered Wednesday (May 13) by King Charles III during the State Opening of Parliament, according...
Two bills passed Tuesday (May 12) by the House of Representatives are only the latest efforts by lawmakers to cut red tape for smaller banks. A bill in the U.S. Senate would exempt more small financial institutions from the Durbin Amendment to the Dodd-Frank Act...
The Securities and Exchange Commission’s new director of the Division of Enforcement, David Woodcock, said Wednesday (May 13) that the agency’s focus is and will remain on protecting investors and safeguarding markets by stopping all forms of fraud and manipulation. In a speech delivered at the MFA Legal & Compliance 2026 conference,...
Financial services giant Capital One is taking legal action against scammers committing impersonation fraud. But rather than accusing fraudsters of violating criminal law, the company says it is taking a different tactic in a federal lawsuit filed Wednesday (May 13): alleging that the scammers are guilty of infringing on...
Apple is reportedly opposing Europe’s efforts to require Google to help its AI competition access its services. As Reuters reported Wednesday (May 13), the European Commission (EC) has been seeking feedback on measures to help Google comply with the Digital Markets Act (DMA). The EC...
The House of Representatives passed bills Tuesday (May 12) that would tailor the supervisory requirements and reduce the frequency of examination for smaller financial institutions that are well managed and well capitalized. The two bills will now be considered by the Senate. One, the Supervisory Modifications for Appropriate...
Staffers at the Consumer Financial Protection Bureau (CFPB) are reportedly heading back to the office. The move comes more than a year after the White House shuttered the financial regulator’s headquarters in Washington, Reuters reported Tuesday (May 12), citing sources with knowledge of the matter. The return-to-office plan for...