About six weeks into his new role as Federal Reserve Vice Chair for Supervision, Michael Barr’s first speech focused on safety and fairness as he hinted at tougher oversight of cryptocurrency, bank mergers and climate change. “Safety and fairness may seem like distinct goals, but...
A major Congressional effort to create regulations around stablecoins has hit a bump in the road, and while negotiations still ongoing, they are likely to extend beyond what the calendar allows. The negotiations come down to the Democratic chairwoman of the panel, Maxine Waters, and...
Alloy, which works on helping banks and FinTechs with identity decisioning and threat selections with API service and SaaS, has a $1.55 billion valuation now after raising $52 million recently, a report said. That comes 11 months after it elevated $100 million at a $1.35...
Back in June, the European Banking Authority (EBA) published its response to the European Commission’s call for advice on its review of the revised Payment Services Directive (PSD2). That review is set to lead to a re-revised payments services directive in the coming years that...
Federal authorities are investigating whether cryptocurrency exchange Binance violated the Bank Secrecy Act. That’s according to a Thursday (Sept. 1) Reuters report, which noted that the Department of Justice (DOJ) in 2020 asked Binance for extensive internal records about its anti-money laundering (AML) measures, as...
African payments technology firm Flutterwave has been granted a Switching and Processing License by the Central Bank of Nigeria, which is widely considered the most significant payments processing license in the country. The license gives Flutterwave permission to offer customers in the region switching and...
U.S. Commerce Secretary Gina Raimondo met with CEOs from big names like Amazon and Apple in the early months of her tenure, which could be a point of critique for progressives, Bloomberg wrote. The data came from a copy of her April 2021 calendar. Reports...
California’s fast food restaurants are pushing back against a bill that passed in the state Senate Monday (Aug. 29), mandating new standards for fast food workers’ wages, schedules and working conditions. The bill, AB 257, or the Fast Food Accountability and Standards (FAST) Recovery Act,...
Companies have begun to lobby against India’s new digital lending rules after the regulations interrupted card services and put Amazon loan offerings in peril. Earlier this month, the Reserve Bank of India (RBI) issued a rule that said borrowers must deal directly with banks, bad...
