Draft rules from the China Banking and Insurance Regulatory Commission (CBIRC) show that the regulator will relax at least some ownership rules for foreign banks. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
The U.S. Federal Reserve will consider some deregulation for all but the nation’s largest banks at a board meeting at the end of this month. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
The Consumer Financial Protection Bureau (CFPB) has announced a settlement with payday lender Cash Express, which will pay approximately $32,000 in restitution to consumers, as well as a $200,000 civil money penalty for violating the Consumer Financial Protection Act (CFPA). Based in Tennessee, Cash Express...
The Office of the Comptroller of the Currency (OCC) announced that it has fined Capital One $100 million due to shortcomings in the company’s Bank Secrecy Act and anti-money laundering programs. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Yahoo has agreed to pay $50 million in damages over the biggest security breach in history. 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...
The New York Attorney General announced that Wells Fargo & Company has agreed to pay a $65 million fine in connection with its “cross-sell” business model, related sales practices, and publicly reported cross-sell metrics. Get the Full Story Complete the form to unlock this article...
In the United Kingdom, a peer-to-peer (P2P) property lender has taken what the Financial Times called “the unusual step” of asking a regulator for aid amid a legal dispute. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
FinTech and FI collaborative efforts are getting a leg up and support from regulatory bodies. In Singapore, the goal is a balanced regulatory environment. In Europe, banks in Lithuania and Ukraine have joined efforts across borders to promote FinTech development. I
The district council in Washington D.C. will vote this week on legislation that will decide if short-term rental travel accommodations companies such as Airbnb and HomeAway can do business in the nation’s capital. According to Reuters, the regulation would prohibit people from offering short-term rentals...
