For a few weeks in April, experts in digital identity from banks, vendors, FinTech, law firms and regulators worked in the Digital Identity Tech Spring to develop ideas about how to tackle the increasing problem of identity theft in remote customer onboarding. Get the Full Story...
The Consumer Financial Protection Bureau (CFPB) on Wednesday (May 4) ordered Bank of America to pay $10 million for processing illegal, out-of-state garnishment orders against its customers’ bank accounts, according to an enforcement order. Get the Full Story Complete the form to unlock this article...
Germany’s Federal Cartel Office said Wednesday (May 4) it plans to impose tougher regulations on Facebook owner Meta Platforms. 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...
On Wednesday, May 4, the U.S. Senate Committee on the Judiciary will hold a hearing on “Excessive Swipe Fees and Barriers to Competition in the Credit and Debit Card Systems,” where representatives from Visa, Mastercard, retailers and consumer advocacy groups will likely discuss the benefits...
In February, the Consumer Financial Protection Bureau (CFPB) launched a request for information from the public about the impact that “junk fees” are having on consumers. In April, the agency closed the consultation after receiving a staggering 80,000 comments. Get the Full Story Complete the...
This week, Big Tech firms were in the spotlight again — and not only because it is earnings season, but also because Twitter accepted Elon Musk’s $44 billion offer. Regulators quickly reminded him that Twitter will have to respect new EU content moderation rules. Crypto...
The U.K.’s Competition and Markets Authority said HSBC UK has breached open banking provisions set out in the Retail Banking Market Investigation. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
The U.K. Online safety bill, a new law that will significantly increase the responsibilities of Big Tech firms for the content posted in their platforms, may raise costs for small businesses, said Gill Whitehead in an interview with the Financial Times. Get the Full Story...
There are new European Union proposals which purport to monitor crypto transactions with unhosted wallets, which could reportedly breach the risk-based approach that is being pushed by money laundering regulators, a European Banking Authority official said Wednesday (April 27). Get the Full Story Complete the...
