Financial services companies in the U.K will have to undergo cyber stress tests to ensure they could recover if they were hit with a major cyber breach. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Bank of America has been accused in a lawsuit of providing more than 100 accounts, used to carry out a $102 million Ponzi scheme. According to Bloomberg, the class-action suit, Heinert v. Bank of America, N.A., was filed in U.S. District Court, Middle District of...
The Consumer Financial Protection Bureau (CFPB) has filed a response supporting reconsideration of the agency’s payday rule. According to The National Law Review, the motion requested that a Texas federal court reconsider its June 12 order that the effective date of the rules not be...
Regulators from North America, Great Britain and Asia have requested a formal exemption from the European Union’s new data privacy law that they said could potentially interfere with cross-border investigations. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
And so, the two-sided market lives on. 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. By completing this form, you agree...
Regulators turned their collective gaze toward FinTech firms this past week. 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. By completing...
Rising interest rates on the part of the Federal Reserve for the past few years hasn’t prompted a lot of banks to raise the rates they pay on deposits account. However, some customers have been making money, thanks to a cutthroat environment in which some...
FinTechs by the dozen. Apps by the dozen. Banks have competitive, operational and communication challenges in place, as Mitch Siegel, National FS Strategy and Transformation Leader at KPMG tells Karen Webster. But huge arrow for FIS remains in the quiver: Trust.
A federal judge in New York has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. According to Reuters, the decision by U.S. District Judge Loretta Preska prohibits the agency from suing a company that advances money to people awaiting settlement payout,...
