The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision comes in response to Gemini’s failure to conduct due diligence, the DFS said in a...
State by state, limit by limit, the age of credit card surcharges may be drawing to an end. And while much depends on various legal outcomes, it is, ultimately, consumer sentiment that may push the practice of surcharging to the wayside. As reported here on...
New York Attorney General Letitia James accused Citi of failing to protect fraud victims. In a lawsuit filed Tuesday (Jan. 30), the state’s top prosecutor alleged that the banking giant has no protections against account takeovers, misleads customers about their rights when their accounts are...
The Office of the New York State Comptroller raised concerns about the Department of Financial Services’ oversight of the cryptocurrency industry. The office released a report earlier this month that highlighted potential risks associated with the state’s BitLicense program, which requires digital asset providers to...
February 12, 2024
State by state, limit by limit, the age of credit card surcharges may be drawing to an end. And while much depends on various legal outcomes, it is, ultimately, consumer sentiment that may push the practice of surcharging to the wayside. As reported here on Monday (Feb. 12) and as is the law of the […]
May 16, 2022
“We’re seeing financial services in places where we’ve not been not used to seeing financial services.” New York State Department of Financial Services Superintendent Adrienne Harris noted to Karen Webster in a recent...
August 11, 2020
For gig-economy companies, is it time to make way for the third way? As reported Monday, Uber CEO Dara Khosrowshahi wrote in a New York Times op/ed that gig-economy companies like his...
January 27, 2020
For the Consumer Financial Protection Bureau (CFPB), 2020 may be a landmark year. There’s the looming question over the agency’s very constitutionality, recent definitions of what equates to “abusive” practices...
March 07, 2024
Elon Musk says X could soon receive money transmitter licenses from New York and California. The license from California could come in the next month or so, while New York’s approval may be “a few months away,” said Musk, whose comments Wednesday (March 6) at the Morgan Stanley technology, media and telecom conference were reported by Reuters. […]
February 28, 2024
The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision...
January 30, 2024
New York Attorney General Letitia James accused Citi of failing to protect fraud victims. In a lawsuit filed Tuesday (Jan. 30), the state’s top prosecutor alleged that the banking giant...
January 08, 2024
The Office of the New York State Comptroller raised concerns about the Department of Financial Services’ oversight of the cryptocurrency industry. The office released a report earlier this month that...
