Sarah Bloom Raskin, the Biden administration’s nominee for most powerful banking regulator seat, has withdrawn her nomination Tuesday (March 15) after months of turmoil and opposition from Republicans along with one key Democrat, The Wall Street Journal reported. Get the Full Story Complete the form...
The Consumer Financial Protection Bureau (CFPB) in late February issued procedural rules that may represent a change in the agency’s strategy to pursue enforcement actions and could also allow it to have more time to tackle its ambitious and crowded agenda. Get the Full...
In July 2021, the U.K. Competition and Markets Authority (CMA) mandated the use of variable recurring payments (VRPs) as a mechanism to allow the automatic transfer of money between a customer’s own accounts (known as Sweeping). Get the Full Story Complete the form to unlock...
The Estonian unit of Swedbank AB is a suspect in a money-laundering investigation, after a special white-collar crime investigator with Estonia’s Central Criminal Police notified the bank that Swedbank AS has been summoned, The Wall Street Journal reported on Monday (March 14). Get the Full...
Paytm CEO Vijay Shekhar Sharma said investors in his firm do not have access to customer data, in a bid to ease concerns over reports of user information being leaked to Chinese firms, Reuters reported Tuesday (March 15). Get the Full Story Complete the form...
A German court has opened class-action style legal proceedings against accounting firm Ernest & Young LLP (EY) to hear cases from investors in defunct payment company Wirecard AG. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
The Federal Trade Commission (FTC) on Friday (March 11) charged Denver-based HomeAdvisor, Inc., with “a wide range of deceptive and misleading tactics” by selling home improvement project leads to service providers, including small business owners, since at least the middle of 2014. Get the Full...
Paytm Payment Bank is being audited by the Reserve Bank of India (RBI) over allegations that it engaged in data sharing with organizations based in China and also failed to have adequate know-your-customer documentation, Bloomberg reported on Monday (March 14), citing an unnamed source. Get...
The Central Bank of Brazil unveiled stricter regulations for FinTech firms Friday (March 11), imposing regulations based on the size and complexity of these companies and creating tougher standards for required capital. Get the Full Story Complete the form to unlock this article and enjoy...
