New York State Superintendent of Financial Services Adrienne A. Harris has issued a revised proposed regulation that would allow the state’s Department of Financial Services (DFS) to collect data regarding how well New York-regulated banks are serving minority- and women-owned businesses. The proposal is pursuant...
The caps placed on stablecoins in the Markets in Crypto Assets Regulation (MiCA) legislation that is now being considered by the European Parliament are reportedly no sure thing. These caps — which have been a controversial part of the MiCA legislation as the final vote...
The Federal Trade Commission (FTC) is taking action against both online alcohol marketplace Drizly and its CEO, James Cory Rellas, pointing to allegations that they were alerted to data security problems but failed to improve the company’s procedures before a data breach took place two...
The Financial Services and Markets Bill is the centerpiece of the U.K. government’s post-Brexit regulatory architecture for financial services. OK, the U.K. doesn’t really have a working government at the moment, but political crises aside, the bill is still an important piece of legislation and...
Among the many ways digital technologies have shaped the way the world does business, the enhanced ability to collect and monetize customer data has been one of the most significant. While data protection laws such as the EU’s General Data Protection Regulation (GDPR) are widely...
If there was at least some consensus that came out of last week’s D.C. FinTech Week confab, it’s that banks and the regulators that oversee them need to tread a fine line between innovation and risk. And the line may not be easily defined. As...
After his earlier remarks about partnerships between banks and FinTechs led members of the financial services industry and House Republicans to worry that he would discourage innovation, Acting Comptroller of the Currency Michael J. Hsu has reportedly explained that he wants to ensure that firms...
PayPal is apologizing for what it says is “confusion” over a new policy that threatened to fine customers and merchants for sharing what the company determined to be misinformation. According to multiple media reports Monday (Oct. 10), the company has said the new policy was...
The final text of the Markets in Crypto Assets (MiCA) law creating a broad legal framework for digital assets including cryptocurrencies and stablecoins has been passed by the European Commission, and goes to the European Parliament next week. The document, released Wednesday (Oct. 5), features...