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...
Britain’s financial regulator has sent a warning to payday lenders after rising complaints following the collapse of Wonga. 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...
As noted by the Conference of State Bank Supervisors (CSBS), state regulators earlier this month released the inaugural Money Services Business Industry Report, which featured transaction data tied to 2017 and focused on licensed money transmission and payments. Get the Full Story Complete the form...
Australia and New Zealand Banking Group announced Friday (October 12) that it fired more than 200 employees for engaging in misconduct, reported Reuters, citing ANZ Chief Executive Shayne Elliott. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...