The U.S. Federal Reserve will consider some deregulation for all but the nation’s largest banks at a board meeting at the end of this month. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
The Office of the Comptroller of the Currency (OCC) announced that it has fined Capital One $100 million due to shortcomings in the company’s Bank Secrecy Act and anti-money laundering programs. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
The New York Attorney General announced that Wells Fargo & Company has agreed to pay a $65 million fine in connection with its “cross-sell” business model, related sales practices, and publicly reported cross-sell metrics. Get the Full Story Complete the form to unlock this article...
FinTech and FI collaborative efforts are getting a leg up and support from regulatory bodies. In Singapore, the goal is a balanced regulatory environment. In Europe, banks in Lithuania and Ukraine have joined efforts across borders to promote FinTech development. I
The district council in Washington D.C. will vote this week on legislation that will decide if short-term rental travel accommodations companies such as Airbnb and HomeAway can do business in the nation’s capital. According to Reuters, the regulation would prohibit people from offering short-term rentals...
Britain’s financial regulator has sent a warning to payday lenders after rising complaints following the collapse of Wonga. 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...
As noted by the Conference of State Bank Supervisors (CSBS), state regulators earlier this month released the inaugural Money Services Business Industry Report, which featured transaction data tied to 2017 and focused on licensed money transmission and payments. Get the Full Story Complete the form...
One Washington Representative said that the Trump administration plans to take on cannabis regulation reform after the midterm elections. 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...
The People’s Bank of China has announced new anti-money laundering (AML) and counter-terrorism financing regulations for online financial institutions (FIs). According to Reuters, the new rules — which take effect on Jan. 1 — order institutions to set up internal control mechanisms for preventing money...
