A committee of the European Parliament will vote in June on the proposed Consumer Credit Directive (CCD) with a view to getting final approval in plenary session before the summer break. Lawmakers will discuss tomorrow, May 17, the proposed amendments to the text. Get the...
“We’re seeing financial services in places where we’ve not been not used to seeing financial services.” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today....
Amazon founder Jeff Bezos said President Joe Biden was misleading after Biden tweeted that inflation could be curbed if wealthy corporations were forced to “pay their fair share,” Bloomberg reported Saturday (May 14). Get the Full Story Complete the form to unlock this article and...
The U.K. Payment System Regulator’s (PSR) panel issued recommendations on May 10 to eliminate barriers for consumers and merchants to access digital payments in the U.K. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
The price drop in stablecoin TerraUSD and the collapse in its associated cryptocurrency LUNA has triggered a global call for stablecoin regulation. From the U.S. Treasury Secretary to the Securities and Exchange Commission (SEC) or the Bank for International Settlement (BIS), regulators around the world...
The European Banking Authority (EBA) has warned that the largely unharmonized regulatory regimes across Europe regarding non-bank lending may create challenges for stakeholders, including regulators, and it recommended changes that may affect lending solutions like buy now pay later (BNPL) and peer-to-peer (P2P) platforms. Get...
Four NatWest Group banks — National Westminster Bank, Royal Bank of Scotland, Ulster Bank and Coutts & Co. — were hit with fines totaling $1.9 million from the U.K. Payment Systems Regulator (PSR) for overcharging interchange fees on credit cards. Get the Full Story Complete...
The Department of Justice has reported that 37-year-old Marcos Ponce of Austin, Texas, was sentenced to five years in prison for a scheme to buy tens of thousands of compromised PayPal accounts, a press release said. Get the Full Story Complete the form to unlock...
The Consumer Finance Protection Bureau (CFPB) has finalized an enforcement action against RAM Payment and Account Management Systems, two payment processors working with debt relief, over collecting debt-relief fees from consumers and lying about the specifics. Get the Full Story Complete the form to unlock...
