A European regulator is investigating whether Google’s artificial intelligence model complies with privacy laws. Ireland’s Data Protection Commission (DPC) is examining whether the tech giant performed a legally required data protection impact assessment before processing European Union residents’ personal data used in its Pathways Language...
Navient is exiting the federal student loan business as a regulator prepares to fine it $120 million. The company, formerly known as Sallie Mae, was sued in 2017 by the Consumer Financial Protection Bureau (CFPB) over its lending practices. Now, the regulator has filed an...
Where there is smoke, there tends to be fire. But where there exists the repeated appearance of deficiencies in the audit process of a business, there often tend to be deeper issues across internal controls, financial reporting, governance or compliance — issues that can ultimately...
A U.K. banking executive says the country needs to resolve its unfair auto-lending practice investigation. Great Britain’s Financial Conduct Authority (FCA) said in July that it was extending that probe, something that doesn’t sit well with William Chalmers, finance chief for Lloyds. “A delay isn’t...
American regulators are reportedly probing whether tech giants are abusing their AI marketplace position. Among these companies under probe is Nvidia, the Wall Street Journal (WSJ) reported Sunday (Sept. 8). Sources tell the news outlet that the Department of Justice (DOJ) has already contacted the...
The payments industry in the United Kingdom is reportedly advocating for changes to fraud-reimbursement rules that are set to be enacted Oct. 7. Despite changes announced by the Payment Systems Regulator (PSR) Wednesday (Sept. 4), the industry is pushing for further amendments to these rules,...
Technology and third-party relationships — with service providers and digitally-focused FinTechs — have helped transform banks’ operations. Banks have been able to pivot fully into the digital age, serving a broader swath of customers than they otherwise might have if those partnerships had not been...
The Federal Trade Commission took legal action against child and older adult care platform Care.com. The FTC alleged that Care deceived caregivers about the availability of jobs and the amount they could expect to earn, while also failing to offer families looking for care a...
Uber was fined a record 290 million euros (about $324 million) for failing to protect European driver data. The fine from the Dutch Data Protection Authority (DPA) stems from an investigation that found that the ride-hailing/delivery giant transferred personal data of its drivers to the...
