In the move to solidify the framework for open banking, the field for just who will help set the standards is wide open. News came Wednesday (June 5) that the Consumer Financial Protection Bureau (CFPB) has set in motion what it terms a “process” for...
Toronto-Dominion Bank (TD Bank) reportedly fired more than a dozen employees and began an overhaul of its processes as part of its efforts to address earlier failings in its anti-money laundering (AML) program. As TD faces regulatory scrutiny and legal challenges, it has embarked on a...
The Federal Reserve’s proposal to lower debit interchange fee caps has drawn a flurry of responses — roughly 2,500 responses, in fact — from trade organizations representing merchants and financial services firms, from bank executives and unaffiliated individuals too. Generally speaking, the comment period after...
Banks in Argentina are reportedly accusing eCommerce giant MercadoLibre’s payments platform of anti-competitive practices. MODO, a digital wallet backed by dozens of Argentine lenders, claims that the company forces shoppers to fulfill online purchases using its payment platform, Mercado Pago, Bloomberg News reported Monday (May 6), citing a complaint filed...
May 23, 2024
The Federal Reserve’s proposal to lower debit interchange fee caps has drawn a flurry of responses — roughly 2,500 responses, in fact — from trade organizations representing merchants and financial services firms, from bank executives and unaffiliated individuals too. Generally speaking, the comment period after a rule is proposed offers up insight from the various […]
April 09, 2024
The B2B landscape is built atop trusted relationships, both formal and informal. These relationships can include partnerships and collaborations with third-party vendors, suppliers, contractors, service providers and more; and while...
March 07, 2024
The Consumer Financial Protection Bureau (CFPB) came under fire on Capitol Hill Thursday (March 7) from critics who charged that caps on credit card late fees, and other actions, would...
January 24, 2024
The debate over debit card interchange fees — and the cap on those fees — looks set to rage for at least a few more months. The Federal Reserve said in...
May 23, 2024
Toronto-Dominion Bank (TD Bank) reportedly fired more than a dozen employees and began an overhaul of its processes as part of its efforts to address earlier failings in its anti-money laundering (AML) program. As TD faces regulatory scrutiny and legal challenges, it has embarked on a comprehensive overhaul of its AML practices, The Wall Street Journal […]
May 07, 2024
Banks in Argentina are reportedly accusing eCommerce giant MercadoLibre’s payments platform of anti-competitive practices. MODO, a digital wallet backed by dozens of Argentine lenders, claims that the company forces shoppers to fulfill online purchases...
April 25, 2024
The Federal Deposit Insurance Corp. (FDIC) should change its rules to ensure that it reviews any “suspicious changes” in bank control, FDIC board member Rohit Chopra said Thursday (April 25)....
April 16, 2024
The European Banking Federation (EBF) is calling on the European Union (EU) to streamline regulation of banks and to declare banks a “strategic sector.” The group is promoting these reforms as a...
