European banks reportedly have issues with the U.K.’s plan to cap international digital transaction fees. A pair of trade organizations — the European Banking Federation and Payments Europe — say the proposal by the British Treasury was “potentially discriminatory” and a “risk to the integrity of national payments and...
The Commodity Futures Trading Commission (CFTC) said Monday (Aug. 12) that it required Cost Management Solutions (CMS) to pay a $100,000 civil monetary penalty after finding that the company failed to register as an introducing broker (IB). The regulator issued an order that both filed...
The Consumer Financial Protection Bureau (CFPB) released an issue spotlight and a consumer advisory about “predatory” lending related to solar panel installations and said it will work with other government agencies to crack down on these abuses. The regulator found that some residential solar lenders...
Uninsured deposits have been in the spotlight of the regulatory gaze through the past year and a half. The failure of Silicon Valley Bank and other bouts of financial instability have called attention to these deposits and possible changes to how they’re held at banks....
Thousands of data fields, thousands of financial firms, nine regulatory agencies … the push toward a common thread of communications across financial services would be, will be and already is a monumental undertaking. Regulators have requested comments on a proposed rulemaking that would set up...
Washington, D.C., Attorney General Brian Schwalb’s new lawsuit against StubHub is just the latest occasion to call attention to practices that regulators have been contesting for years. The suit, filed Wednesday (July 31), accuses the ticket resale platform of drip pricing, utilizing the “deceptive and...
Warren Buffett once remarked that it’s when the tide goes out that you find out who’s been swimming naked. The continuing regulatory examinations of various parts of the Synapse Financial Technologies web of operations gives some stark illumination between the differences — and perhaps some...
The Reserve Bank of India (RBI) said Friday (July 26) that it fined Visa Worldwide Pte. Limited for its use of an unapproved payment authentication solution. “It was observed that the entity had implemented a payment authentication solution without regulatory clearance from RBI,” the central...
The United Kingdom’s Financial Conduct Authority (FCA) proposed new rules on publishing a prospectus, raising capital and regulating secondary markets, and finalized new rules on investment research. These rules aim to strengthen the U.K.’s capital markets and its position as a global financial center, the...
