The Federal Trade Commission (FTC) has proposed several restrictions on Meta. Saying the firm has violated a 2020 privacy order issued when it was still called Facebook, the regulator has proposed a blanket prohibition against monetizing data of children and teens under 18 and a...
A leading House Republican is questioning the federal government’s response to First Republic Bank’s collapse. In a statement issued Monday (May 1), House Financial Services Committee Chairman Patrick McHenry said he appreciated the “quick work” of the Federal Deposit Insurance Corporation (FDIC) in selling off...
The world’s tech giants are among 19 firms the EU says are subject to new content regulations. Europe’s Digital Services Act (DSA) requires these companies to share data with authorities, adhere to a code of conduct, and carry out risk management and independent auditing. “We...
The U.K. is creating a regulator overseeing tech giants like Amazon and Google. Draft legislation will make the new unit an arm of the country’s Competition and Markets Authority (CMA), and give it powers specifically to target giant tech companies, the Financial Times (FT) reported...
The Financial Stability Oversight Council (FSOC) of the U.S. Treasury announced two proposals to counter potential risks. One proposal would provide greater transparency about how the Council identifies, assesses and addresses potential risks to financial stability, the FSOC said in a Friday (April 21) press release. The other proposal describes new...
The U.S. Congress is looking to bring stablecoins deeper into the regulatory fold. And potentially the broader global financial system. A new 73-page draft bill, published Saturday (April 15) by the U.S. House Financial Services Committee is proposing that the Federal Reserve’s board of governors...
Where regulation goes — sometimes, at least — unintended consequences might follow. The regulatory and legislative scrutiny of, and battle over, what are being commonly referred to as “junk fees” looks set to have a broad swath of industries and companies in sight, ranging from...
The Federal Trade Commission is warning advertisers to back up claims about their products. The FTC last week issued notices to 670 companies warning that they could face civil penalties if they make claims in their ads that cannot be substantiated. “The requirement for advertisers...
U.S. companies are more worried about the government impacting profits than a decade ago. A new study by the U.S. Chamber of Commerce — the subject of a Wall Street Journal (WSJ) exclusive report Tuesday (April 11) — finds increasing concern among corporations on things...