A bill said to provide consumer protections and regulatory certainty around digital assets was passed by the U.S. House of Representatives on Wednesday (May 22). The Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763) was approved with broad, bipartisan support, the House Financial Services...
The head of the SEC says new cryptocurrency legislation will undermine his agency’s work. Hours before a scheduled vote Wednesday (May 22), Securities and Exchange Commission (SEC) Chair Gary Gensler issued a statement decrying The Financial Innovation and Technology for the 21st Century Act (FIT 21). The legislation, Gensler said,...
New federal regulations give some financial institutions (FIs) a tighter deadline for reporting security breaches. The Securities and Exchange Commission (SEC) adopted changes last week that require institutions to notify people whose data was compromised “as soon as practicable, but not later than 30 days”...
The Thursday (May 16) decision by the Supreme Court to uphold the funding mechanism of the Consumer Financial Protection Bureau (CFPB) has been hailed as a victory for supporters of robust federal regulation. However, these supporters remain uncertain about the future of federal agency powers, given the court’s conservative...
May 14, 2024
The FinTech landscape may be altered by go-private deals, as private equity firms and other corporates find value in the space — and where, arguably, valuations don’t reflect the potential of changes in payments processing, and especially payments acceptance. Nuvei stands out there, as, in April, the Canadian FinTech announced a $6.3 billion deal with […]
February 20, 2024
In any industry, a $35 billion deal is, of course … a big deal. But in financial services, the news that Capital One has set the stage to buy Discover...
November 22, 2023
Cryptocurrency exchanges play a vital role in the digital asset ecosystem. They facilitate the buying, selling, trading, transferring, and storing of both individual and institutional holdings of the more than...
October 27, 2023
Kathryn McCall, chief legal and compliance officer at Trustly, said that as 2023 gives way to 2024, there are a few simple truths governing payments. With the continued emergence of...
May 22, 2024
A bill said to provide consumer protections and regulatory certainty around digital assets was passed by the U.S. House of Representatives on Wednesday (May 22). The Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763) was approved with broad, bipartisan support, the House Financial Services Committee (HFSC) said in a Wednesday press release. The bill passed by a vote […]
May 22, 2024
The head of the SEC says new cryptocurrency legislation will undermine his agency’s work. Hours before a scheduled vote Wednesday (May 22), Securities and Exchange Commission (SEC) Chair Gary Gensler issued a statement decrying...
May 19, 2024
New federal regulations give some financial institutions (FIs) a tighter deadline for reporting security breaches. The Securities and Exchange Commission (SEC) adopted changes last week that require institutions to notify...
May 17, 2024
The Thursday (May 16) decision by the Supreme Court to uphold the funding mechanism of the Consumer Financial Protection Bureau (CFPB) has been hailed as a victory for supporters of robust federal regulation. However,...
