A Texas money transfer company has pleaded guilty to federal charges that it failed to adequately maintain an anti-money laundering (AML) program, letting $167 million move overseas without oversight. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The U.S. Chamber of Commerce filed a lawsuit against the Federal Trade Commission (FTC) seeking information about its decision making processes. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
The Consumer Financial Protection Bureau announced Thursday (July 14) that it has leveled a $100 million fine at Bank of America for allegedly messing up the disbursement of state unemployment benefits during the pandemic. Get the Full Story Complete the form to unlock this article...
The European Parliament‘s (EP) Internal Market and Consumer Protection Committee almost unanimously approved on Tuesday (July 12) the new EU rules that, according to lawmakers, “aim at protecting consumers online from credit card debt, overdrafts and loans that are unsuitable for their financial situation.” Get...
On Wednesday (July 13), the Treasury Committee at the U.K. Parliament sent letters to Visa and Mastercard requesting them to explain their increases in cross-border interchange fees after the U.K. left the European Union. The companies have until July 27 to respond. Get the Full...
Today in TechREG, the U.K. Parliament sent letters to Visa and Mastercard demanding an explanation for the increase on cross-border fees after the U.K. left the European Union. The inquiry came after the payment regulator in the U.K. signaled that Visa and Mastercard’s increases may...
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has made it a priority for the bureau to fight against “junk fees,” overdraft fees, non-sufficient fund (NSF) fees and credit card late fees. He has also encouraged state regulators to take a more active...
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The Biden administration has scored a win for its financial regulatory team, as Michael Barr was finally confirmed as the vice chair for supervision of the Federal Reserve Wednesday (July 13) by the Senate. Get the Full Story Complete the form to unlock this article...
