legal

Common legal phrase. Lawful action, such as an agreement consciously agreed to by two or more entities, establishing lawful accountability. For example, an apartment lease legally binds the lessor and the lessee.

Money Transfer Firm Ping Express Admits to AML Violations

Money Transfer Firm Ping Express Admits to AML Violations
Money Transfer Firm Ping Express Admits to AML Violations
July 15, 2022  |  AML

A Texas money transfer company has pleaded guilty to federal charges that it failed to adequately maintain an anti-money laundering (AML) program, letting $167 million...

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CFPB Fines Bank of America $100M Over Alleged Unlawful Account Freezing
CFPB Fines Bank of America $100M Over Alleged Unlawful Account Freezing
July 14, 2022  |  CFPB

The Consumer Financial Protection Bureau announced Thursday (July 14) that it has leveled a $100 million fine at Bank of America for allegedly messing up...

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UK Online Safety Bill Put on Hold
UK Online Safety Bill Put on Hold
July 14, 2022  |  Cross-border Payments

In a move that sparked relief among the tech industry, the United Kingdom’s online safety bill has been postponed for at least several weeks. Get...

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NFTs Are Now a Legal Way to Serve Documents in UK Courts 
NFTs Are Now a Legal Way to Serve Documents in UK Courts 
July 14, 2022  |  Legal & Regulation

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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EU Court OKs Antitrust Probe Into Illumina’s Bid to Acquire Grail
EU Court OKs Antitrust Probe Into Illumina’s Bid to Acquire Grail
July 13, 2022  |  ANTITRUST

A court ruling in the European Union (EU) giving Brussels the jurisdiction to investigate life sciences firm Illumina’s $8 billion takeover bid of biotech company...

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CFPB Sues ACE Cash Express, Alleging It Funneled Customers Into Costly Reborrowing
CFPB Sues ACE Cash Express, Alleging It Funneled Customers Into Costly Reborrowing
July 12, 2022  |  CFPB

Payday lender ACE Cash Express has been accused by the Consumer Financial Protection Bureau (CFPB) of hiding free repayment alternatives from its customers. Get the...

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Binance Says It Was ‘Fully Compliant’ With US Sanctions in Iran Despite Report
Binance Says It Was ‘Fully Compliant’ With US Sanctions in Iran Despite Report
July 11, 2022  |  Cryptocurrency

Binance is defending its sanctions program after Reuters reported Monday (July 11) that the cryptocurrency exchange processed trades by clients in Iran despite United States...

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Report Alleges Wirecard Forged Client Data to Obtain €900M SoftBank Investment
Report Alleges Wirecard Forged Client Data to Obtain €900M SoftBank Investment
July 10, 2022  |  Cybersecurity

Once-mighty payments giant Wirecard reportedly faked client data and was lying about internal records in order to get a SoftBank investment for €900 million ($913...

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