Sections
bank regulation
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3.9KB2B PaymentsUK Says ‘No’ To Small Business Loan Regulation
The U.K. government has reportedly rejected recommendations by the Treasury Select Committee that suggested stricter regulations on bank lending to small businesses...
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7.8KInnovationDeutsche Bank: How To Make FI/FinTech Partnerships Work
David Watson of Deutsche Bank contributed the following piece as part of PYMNTS’ Masterclass series, where participants in the world of payments...
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2.9KBank RegulationDanske Fraud Case Leads To Eight Arrests In Estonia
Eight people in Estonia have been arrested in connection to Danske Bank’s money laundering scandal. According to Reuters, Estonian newspaper Postimees reported on...
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3.4KEuropeMacron, French Banks Agree Not To Raise Bank Fees
France’s major banks have agreed to freeze the fees they charge next year in an effort to stop “yellow vest” protests that...
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3.7KBank RegulationFed To Wells: Reform Or See Growth Stall
Wells Fargo won’t be allowed to grow until it hardens its risk management policies to make sure there are no more abuses...
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2.6KBank RegulationLawmakers Want To Outlaw SMB ‘Confession Loans’
U.S. Senators Sherrod Brown and Marco Rubio have called for a ban on confessions of judgement, a tactic predatory lenders use to...
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5.2KBankingWells Fires Slew Of Retail Bank District Managers
Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more...
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6.2KRegulationEU Details Action Plan On Money Laundering
European Union finance ministers worked out a plan for combating money laundering and also made a deal on major bank reform on Tuesday (Dec. 4), according...
- 4.9KBank Regulation
Danske Scandal Could Disrupt Denmark Economy
The Danske Bank money laundering scandal in Denmark could potentially affect the country’s financial stability. Denmark’s largest bank is being investigated over “massive money...
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6.1KRegulationSmall Biz Complaints Get UK Bank Support
Financial Times reports that a number of banks in the U.K. have agreed to give smaller firms more power when it comes...
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9.0KArtificial IntelligenceIn The Age Of Algorithms, Will Banks Ever Graduate To True AI?
It’s the age of algorithms, but not all algorithms are the same — and not all of them constitute true AI. A...
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5.7KTaxesCannabis Cos’ $4.7B In Cash-Based Taxes Overwhelm IRS
The Internal Revenue Service (IRS) is paying $1.7 million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”...
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3.4KRegulationEU Ups Bank Supervision To Stem Money Laundering
European Union governments have reached a preliminary deal to bolster bank supervision in the hopes of preventing money laundering. According to Reuters,...
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3.8KB2B PaymentsMajor Australian Banks Don’t Want Regulatory Overhaul
Australia’s major banks aren’t in support of an overhaul to the new Banking Code of Practice. According to Smart Company, Commonwealth Bank,...
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5.6KBankingUK Retail Banks Draft FinTech Alliance Guidelines
Top U.K. banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech...
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5.8KBitcoinBitcoin Daily: Hublot Unveils Bitcoin Watches; Swiss Regulator Throttles Bank Crypto Trading
Blockchain, the crypto wallet provider, plans to have an airdrop worth $125 million, Fortune reported. Through the cryptocurrency giveaway, each recipient would...
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2.7KBank RegulationFed Weighs In On Bank Liquidity Ratio (And Other) Changes
Roughly a decade on, is it time to remove some of the rules governing the financial sector that took shape in the...
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3.0KB2B PaymentsAustralia Forms Body To Handle Entrepreneurs’ Bank Disputes
Australia’s new government entity, designed to support small businesses (SMBs) claiming mistreatment by their banks, has opened its doors, reports in Smart...
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4.0KB2B PaymentsUK MPs Call For Overhaul Of Business Lending Rules
U.K. policymakers, or Members of Parliament (MPs), are slamming financial institutions (FIs) for their treatment of small business (SMB) borrowers, and are...
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9.9KSecurity & FraudHow PSD2 And Open Banking Impact Security
In the latest Digital Fraud Tracker Deep Dive, PYMNTS examines the authentication challenges posed by PSD2, GDPR and other data sharing initiatives.
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7.0KBankingFDIC To Help Banks Embrace Tech, Innovation
The Federal Deposit Insurance Corporation (FDIC) is setting up an office of innovation to encourage banks to adopt financial technology changes. FDIC...
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8.8KRegulationOCC Fines Capital One $100M Over AML Lapse
The Office of the Comptroller of the Currency (OCC) announced that it has fined Capital One $100 million due to shortcomings in...
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2.8KB2B PaymentsAktis Platform Boosts Banks’ Corporate Governance Transparency
Data intelligence firm Aktis is rolling out a cloud-based platform for banks to benchmark and analyze their market positions compared to industry...
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9.6KB2B PaymentsA Look Inside Switzerland’s Plans To Bank Crypto Businesses
The global regulatory framework of cryptocurrencies and blockchain remains either fragmented, vague or simply nonexistent. However, Swiss officials recently took steps to...
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4.0KB2B PaymentsUK To Allow More SMBs To File Bank Complaints
The U.K. government is broadening the ability of small businesses (SMBs) to lodge complaints against their banks, according to Financial Times reports...
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8.2KBank RegulationFederal Agencies Weigh In On Sharing Bank Secrecy Act Resources
Five federal agencies spoke on Wednesday (Oct. 3) on how community banks and credit unions can share resources to boost anti-money laundering (AML) efforts,...
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Fed Backs Community Bank Regulatory Overhauls
The U.S. Federal Reserve caught the attention of the financial services market this week with Fed Governor Lael Brainard’s speech Wednesday (Oct....
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3.2KSecurity & FraudTesco Bank Fined £16.4M For 2016 Cyberattack
Tesco Bank agreed on Monday (Oct. 1) to pay £16.4m in a settlement with the Financial Conduct Authority (FCA) due to a cyberattack...
- 3.5KRegulation
Credit Suisse Censured By FINMA For Lax Anti-Money Laundering Processes
Credit Suisse has been censured by FINMA, the Swiss financial supervisor, for weak anti-money laundering processes, reported Financial Times. According to the...
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2.9KRegulationWells’ Plan To Compensate Auto Insurance Holders Rejected
Wells Fargo has seen U.S. regulators turn down its plan to pay back customers who purchased auto insurance they didn’t need. Reuters,...
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3.1KFraud PreventionHelping Banks Find Fraudsters-In-Waiting
Banking during the pre-digital days involved transport. One had to visit a branch — and remember, there is a reason people still...
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4.9KB2B PaymentsNew Bank TNB USA Sues The Fed
A new bank, launched by one of the Federal Reserve’s own, is now suing the Fed of New York, accusing the regulator...
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4.3KSecurity & FraudDOJ Probes Wells’ Wholesale Banking Ops
Add another investigation to the roster of headlines swirling around Wells Fargo. As The Wall Street Journal reported on Thursday (Sept. 6),...
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3.6KB2B PaymentsDeutsche Bank Doubles Down On Growth Plans
Although Deutsche Bank says it knows it cannot return to the market domination it enjoyed before the 2008 financial crisis, according to...
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3.4KB2B PaymentsSmall Firms Target RBS Execs In New Investigation
The fallout over the Royal Bank of Scotland’s mistreatment of some small business customers continues, with a new investigation launching after the...
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3.8KB2B PaymentsChina Fiscal Policy At Odds With SMB Lending
China is struggling to bridge its small businesses to financing for growth, with broader fiscal policy at odds with the initiative, according...
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2.4KInternationalUK Bank Acct Services At Risk Post-Brexit
Britons residing in the European Union (EU) may no longer have access to bank account services and businesses in the EU if...
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5.1KB2B PaymentsBanks, FinTech Firms Ready To Compete For RBS Funds
Royal Bank of Scotland (RBS), which has been ordered to dole out more than $1 billion to industry competitors, is ready to receive...
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3.7KB2B PaymentsAussie Regs Accuse NAB Of Decade-Long Fee Scheme
Australian regulators have made public a report into National Australia Bank (NAB), accusing the FI of charging consumer and small business customers...
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2.5KBankingFinTechs Wary Of US Bank Charter Plan
Despite having the chance to apply for banking licenses with the Office of the Comptroller of the Currency, many online lenders are...
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3.3KSecurity & FraudIran Central Bank Deputy Chief Arrested In Fraud Crackdown
The deputy chief of Iran’s central bank was dismissed from the position and arrested as part of the government’s crackdown on financial...
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3.1KNewsFive at Five: Ride Hailing Service Grab Set For New $1B Investment
Welcome to the Five at Five, your late look at the payments and commerce news of the day. Stories include Southeast Asia...
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3.6KB2B PaymentsWatchdog Says Its Hands Are Tied; Takes No Action Against RBS
The Royal Bank of Scotland (RBS) will not face enforcement action by the U.K. Financial Conduct Authority (FCA), according to Reuters reports...
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5.2KPartnerships / AcquisitionsSynovus Buys FCB Bank Financial In All-Stock Deal Valued At $2.9B
Synovus Financial announced on Tuesday (July 24) that it is acquiring FCB Financial Holdings, owner of Florida Community Bank (FCB), Florida’s largest...
- 4.3KBanking
Wells Fargo Refunding Customers For Add-On Products
Wells Fargo, the embattled national bank, is reportedly refunding tens of millions of dollars for a range of products, including pet insurance...
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4.2KB2B PaymentsFunding Circle Fund Reduces US Exposure
An investment vehicle operated by U.K. alternative finance platform Funding Circle is reportedly turning away from U.S. exposure and doubling down on...
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3.4KB2B PaymentsBanks, Shadow Lenders Risk ‘Race To The Bottom’ In Corporate Bond Market
Analysts are warning that rising competition among large lenders and shadow banks to issue junk bonds may cause a “race to the...
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6.0KBank RegulationPSD2 Smiles On Biometrics — And Other Tales From The New World
Watching. Waiting. Concerns about fraud. And an apparent boost for biometrics. The second Payment Services Directive — known as PSD2 — has come...
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5.0KBank RegulationBad Loans Slow Banks In FinTech Race
FinTech startups and big tech may provide competition for established banks that have bad loans on the books, The European Banking Authority...
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4.2KSecurity & FraudAs GDPR Entrenches, Some Regulators Seek Exemptions
Just a few weeks in, the data privacy law that has just taken root in the European Union already has some regulators...
