The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. The Bank Resilience and Regulatory Improvement Act (H.R. 8337) will now move to the full House for consideration, the HFSC...
Eisen and Checkbook partnered to help financial institutions streamline payment disbursements and ensure compliance with consumer protection regulations. The companies’ new Disbursement Hub is designed to help financial institutions meet the challenge of the evolving regulatory landscape around account closures and fund disbursements, according to a Thursday (May 16) press release. “Our strategic...
The United Kingdom’s Competition and Markets Authority (CMA) will not investigate Microsoft’s partnership with artificial intelligence (AI) startup Mistral AI. “The CMA has decided that Microsoft Corporation’s partnership with Mistral AI does not qualify for investigation under the merger provisions of the Enterprise Act 2022,”...
There are over 19,000 tax jurisdictions worldwide — any of which can change in an instant. With new and emerging payment rails, such as instant payments, helping to transform the cross-border space, regulators are increasingly cracking down on businesses in the payment chain to ensure that new technologies...
May 14, 2024
For the Consumer Financial Protection Bureau (CFPB), the courts have been a hotbed of action, lawsuits, appeals and back-and-forth between lawyers. Almost everything boils down to the decision that will come down from the Supreme Court — a decision that will determine whether the agency can exist at all. In terms of the timeframe, the decision is widely expected to be […]
May 09, 2024
The laws of physics dictate that for every action, there is a reaction. As Tuesday (May 14) looms, with a new rule from the Consumer Financial Protection Bureau (CFPB) slated to take effect that...
May 07, 2024
Back in October, the Consumer Financial Protection Bureau (CFPB) made public a new rule about data and data sharing. And it wasted no time signaling the intent behind it. In a press release issued Oct. 19,...
April 23, 2024
Companies have a critical need for technology to help manage their tax obligations, Sovos CEO Kevin Akeroyd writes in the new PYMNTS eBook, “The Implications of Uncertainty.” During my...
May 17, 2024
The Consumer Financial Protection Bureau sued SoLo Funds, alleging that the online lending platform used “digital dark patterns” to illegally collect fees from borrowers. The lawsuit also alleged that SoLo Funds misrepresented the cost of loans, made false threats, collected money consumers didn’t owe, and created a credit scoring model with no safeguards, the agency said in a Friday (May 17) press […]
May 17, 2024
The House Financial Services Committee (HFSC) voted Thursday (May 16) to advance a bill that would raise the asset thresholds for several regulations covering banks from $10 billion to $50 billion. The Bank Resilience and...
May 17, 2024
Eisen and Checkbook partnered to help financial institutions streamline payment disbursements and ensure compliance with consumer protection regulations. The companies’ new Disbursement Hub is designed to help financial institutions meet the challenge of the evolving regulatory landscape around...
May 17, 2024
The United Kingdom’s Competition and Markets Authority (CMA) will not investigate Microsoft’s partnership with artificial intelligence (AI) startup Mistral AI. “The CMA has decided that Microsoft Corporation’s partnership with Mistral...
