Visa is reportedly the target of a Department of Justice (DOJ) probe into its tokenization practices. The DOJ’s interest in Visa is part of a long-running investigation, Bloomberg reported Wednesday (Aug. 16). Officials are looking into Visa’s policy of charging more to merchants who don’t use its tokenization system,...
New York’s financial regulator wants to regulate the companies that help set prescription drug costs. The New York Department of Financial Services (NYDFS) announced Wednesday (Aug. 16) that it had proposed regulations governing the conduct of pharmacy benefit managers (PBMs) operating in the state. ...
The Consumer Financial Protection Bureau (CFPB) will propose new regulations directed at companies that track and sell people’s personal data. The proposal will be announced Tuesday (Aug. 15) at the White House and will broaden the scope of the Fair Credit Reporting Act, a law governing the...
The Federal Trade Commission (FTC) is hitting Experian Consumer Services (ECS) with a $650,000 fine over charges that it sent its customers unsolicited emails without providing them a way to unsubscribe. The FTC’s complaint said ECS violated the CAN-SPAM Act, according to a Monday (Aug....
Title insurers and others may soon be required to report the identities of the beneficial owners of companies that pay cash for real estate. The U.S. Treasury Department will propose a rule this month that will require real estate professionals to report this information to its Financial Crimes...
The Cuban Central Bank has issued new regulations designed to address runaway inflation and the large off-the-books economy that has developed in the midst of the country’s economic crisis. The regulations, which went into effect Thursday (Aug. 3), put a limit of 5,000 pesos on...
China’s internet regulator has introduced regulations to keep kids from spending too much time online. The rules issued by the Cyberspace Administration of China (CAC) amount to some of the toughest restrictions on internet use on the planet, Bloomberg reported Wednesday (Aug. 2), and could...
Binance and its CEO, Changpeng Zhao, are reportedly fighting back against a complaint filed against the cryptocurrency exchange by the U.S. Commodity Futures Trading Commission (CFTC). They filed a motion to dismiss the CFTC’s case and are claiming that the agency is attempting to regulate foreign individuals and corporations residing and...
A bill now in the U.S. House of Representatives would make it law that not all digital assets are securities. So said House Financial Services Committee (HFSC) Chairman Patrick McHenry in opening remarks made Wednesday (July 26) ahead of a markup of the “Financial Innovation and Technology [FIT] for the 21st Century Act.”...
