The Federal Trade Commission (FTC) is looking to learn more about companies’ use of personal data to categorize individuals and set individualized prices for the same goods or service — a practice it calls “surveillance pricing.” The regulator said in a Tuesday (July 23) press...
A top global financial watchdog says the “shadow banking” sector needs more regulation. Writing Monday (July 22) to a group of finance ministers and central bank governors, Financial Stability Board (FSB) Chair Klaas Knot said recent “incidents of market stress and liquidity strains” have shown that non-bank financial institutions...
The United Kingdom’s Financial Conduct Authority (FCA) is looking to change its guidance to ensure that financial firms do not treat politicians and public servants unfairly. The FCA released proposed amendments to its guidance relating to politically exposed persons (PEPs) on Thursday (July 18) and...
A Polish regulator fined PayPal $27.3 million over allegedly “unprecedented” user agreement violations. The Office of Competition and Consumer Protection (UOKiK) said in a Monday (July 15) press release that it determined PayPal’s contract language did not inform consumers which activities could cause them to...
The Federal Trade Commission (FTC) warned franchisors Friday (July 12) that non-disparagement clauses and the imposition of previously undisclosed fees are against the law. The regulator highlighted these practices in a policy statement and a guidance released Friday, the FTC said in a press release....
For Apple, the iPhone and the App Store have historically been linchpins for its ecosystem — where the hardware is an onramp to a broad range of services that forge a continuum of commerce, content and payments. But Apple’s opening its payments tech and its...
Esker has expanded its Source-to-Pay (S2P) platform to include new features focused on helping businesses comply with environmental, social and governance (ESG) regulations worldwide. These features are designed to help chief financial officers (CFOs) manage continually evolving regulatory frameworks, mitigate risk and enhance visibility, reporting and...
Fifth Third Bank must pay $20 million to resolve litigation in its auto lending practices. The settlement followed an investigation by the Consumer Financial Protection Bureau, which accused the bank of forcing vehicle insurance onto borrowers who had coverage and setting up fake accounts in...
European Banking Authority Chairman Jose Manuel Campa said the watchdog organization may make reporting requirements for nonbank financial institutions a “next step.” Campa said the rapid expansion of the “shadow banking” sector, which includes hedge funds, private credit providers and insurers, presents a lack of...
