Legal & Regulation

Legal & Regulation
Banks’ Suit on CFPB Rule 1033 Predicts Private-Public Sector Clash on Open Banking
October 25, 2024

The Consumer Financial Protection Bureau released its final rule on data-sharing Tuesday (Oct. 22). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...

ANTITRUST
UK’s CMA Launches Antitrust Probe Into Alphabet’s $2 Billion Partnership With Anthropic
October 24, 2024

The U.K.’s Competition and Markets Authority (CMA), which is in charge of antitrust regulation, is investigating a partnership between tech giant Alphabet and artificial intelligence startup Anthropic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...

Bank Regulation
Federal Reserve Enforcement Action Flags Deficiencies at UniBank
October 24, 2024

Washington-based UniBank and its parent company U&I Financial have agreed to measures to be taken under an enforcement action issued Thursday (Oct. 24) by the Federal Reserve Board. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

Legal & Regulation
Trade Associations Sue to Block FTC ‘Click-to-Cancel’ Rule
October 23, 2024

Three trade associations filed a lawsuit Wednesday (Oct. 23), aiming to block the Federal Trade Commission’s (FTC) “click-to-cancel” rule. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...

CFPB
Banking Trade Associations Sue CFPB to Block Data Sharing Rule
October 22, 2024

The Bank Policy Institute and the Kentucky Bankers Association filed a lawsuit Tuesday (Oct. 22) challenging the Consumer Financial Protection Bureau’s (CFPB) final rule on data sharing that was unveiled on the same day. Get the Full Story Complete the form to unlock this article...

Bank Regulation
Cross River CEO: FDIC Proposed Rule Would Protect Bank-FinTech Model
October 22, 2024

Cross River Founder and CEO Gilles Gade has spoken out in favor of the Federal Deposit Insurance Corp.’s (FDIC) proposed requirements for custodial deposit accounts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...

CFPB
Open Banking’s Price Tag: CFPB’s 1033 Rule and the Cost of Compliance
October 22, 2024

The goal of the Consumer Financial Protection Bureau’s final rule on data sharing unveiled Tuesday (Oct. 22) is to promote competition and, by extension, financial services innovation. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...

Legal & Regulation
News Corp-Owned Publishers File Copyright Infringement Suit Against Perplexity
October 22, 2024

Two News Corp-owned publishers — Wall Street Journal (WSJ) parent company Dow Jones and the New York Post — have filed a copyright infringement lawsuit against artificial intelligence (AI) search engine Perplexity. Get the Full Story Complete the form to unlock this article and enjoy...

CFPB
CFPB Includes Payment Apps and Data Brokers in Final Rule 1033
October 22, 2024

The Consumer Financial Protection Bureau (CFPB) swung for the fences this morning (October 22) as it issued the final version of its long-awaited Rule 1033 on personal financial data rights. As expected, the rule will mark a significant step toward open banking in the United States....