Regulation

Regulation
FTC Puts Smackdown On Fake Online Reviews
February 27, 2019

One cannot have the good without the bad, and that holds especially true, it seems, with online product reviews — a vital, useful part of eCommerce that is reviled by consumers, marketplace sellers and merchants alike. Now comes news of a groundbreaking case involving fake...

Regulation
EU Report Calls For Finance Authorities, AML Oversight
February 27, 2019

European Union lawmakers released a report on Wednesday (Feb. 27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. Get the Full...

Regulation
Korea Regulator To Force Banks To Play Nice With FinTech Firms
February 27, 2019

Korea’s Financial Services Commission is gearing up to roll out new rules that would require banks in Korea to open up their payment systems to FinTech players. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...

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FTC Takes Fresh Aim At Big Tech — And Its Previous Mergers
February 27, 2019

It’s a process that stands not only as a familiar feature of U.S. history, but a part of global economic development stretching back centuries: First comes innovation, then comes growth based on that innovation (not just economic, but cultural and other forms of growth), then...

Regulation
Calif Lawmakers Seek More Stringent Data Privacy Law
February 26, 2019

California lawmakers are looking to make their strictest-in-the-nation data privacy law even tougher. 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 Today. By...

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Rep Ocasio-Cortez Calls For Hearings On Banks Lending To Immigrant Prisons
February 25, 2019

New York Rep. Alexandria Ocasio-Cortez is asking for hearings in Congress on why Wall Street is lending money to private prisons that house undocumented immigrants, according to reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...

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Rep. Maxine Waters Implores CFPB Employees To Report Wrongdoing
February 25, 2019

California Representative Maxine Waters has written an open letter to employees of the Consumer Financial Protection Bureau (CFPB) and urged them to provide information and assistance from inside the organization, according to reports. Get the Full Story Complete the form to unlock this article and...

Regulation
FTC Settles With SoFi
February 25, 2019

The Federal Trade Commission announced it has resolved its investigation of online lender SoFi, following a public comment period. 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...

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FinTechs Press States To Streamline Regulations
February 25, 2019

The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. Get the Full Story Complete the form to unlock this article and enjoy...