JPMorgan Chase said in a Thursday (Feb. 19) court filing that it will seek a dismissal of President Donald Trump’s lawsuit that alleges the financial institution “debanked” him in 2021, Bloomberg reported Thursday. The bank also said in the filing that it seeks to have...
Rule 1033 was supposed to be the moment U.S. open banking stopped being a patchwork of screen-scraping workarounds and became a regulated data right. The Consumer Financial Protection Bureau (CFPB)’s final rule set out a clean idea: Consumers should be able to direct their bank...
Republican lawmakers vowed Tuesday (Feb. 17) to reform the Consumer Financial Protection Bureau (CFPB) after a White House report detailed what it said are the costs of the agency and its regulations. The White House said Tuesday that the CFPB has cost consumers at least...
Stripe-owned Bridge announced Tuesday (Feb. 17) that it received conditional approval from the Office of the Comptroller of the Currency (OCC) to organize a federally chartered national trust bank. When the charter is fully approved, Bridge will be able to operate stablecoin products and services under direct federal oversight, the company said in...
Should the increasingly popular predictions market space be regulated by states or the federal government? The Commodity Futures Trading Commission (CFTC) is making the case that the authority to oversee these companies lie with it, CNBC reported Tuesday (Feb. 17). The report came as the...
The DeFi Education Fund (DEF), a Washington, D.C.-based advocacy group, is urging the United Kingdom’s Financial Conduct Authority (FCA) to limit its upcoming cryptocurrency regulations to entities that have unilateral control over user funds or transactions, CoinDesk reported Friday (Feb. 13). The DEF made these...
The Federal Trade Commission (FTC) has been asking several of Microsoft’s competitors about the company’s business practices as part of an ongoing antitrust probe, Bloomberg reported Friday (Feb. 13), citing unnamed sources. The agency’s issuance of civil investigative demands steps up its investigation into whether...
A class action lawsuit targeting JPMorgan Chase’s cash sweep program can move forward after a federal judge rejected the bank’s request to dismiss the suit, Reuters reported Friday (Feb. 13). In a Thursday (Feb. 12) ruling, the judge said JPMorgan Chase must face the plaintiffs’ claims...
The Interactive Advertising Bureau (IAB) proposed new terms for voluntary use in contracts for direct buys of digital advertising. The Direct Buy Addendum v1.0 covers sponsorships, audience extensions and other direct buys, the trade association for the digital advertising industry said in a Thursday (Feb....