PYMNTS

DECEMBER 20, 2020

One reason Jiwei gave for the possible rule is that it would help avoid the amassing of too much bad debt by one entity. Reuters reported that Chinese officials last week invoked a pro-competition law for the first time since its 2008 inception to levy fines against companies such as Ma's Alibaba Group.

FinTech 102

FinTech Government Governance Caps 102

PYMNTS

NOVEMBER 30, 2020

In other news, China’s Jiangsu Yancheng Intermediate People’s court released the details of the crypto assets seized by police related to the PlusToken Ponzi scheme crackdown, The Block reported. billion, according to The Block, citing the court’s judgment, which came out on Nov. million people, The Block reported.

Bitcoin 67

Bitcoin Law Enforcement Blocks Cryptocurrency 67

Fintech News

JUNE 12, 2024

To make multilateral payment platforms work well, there need to be clear rules and ways for different systems to work together. As multilateral platforms scale, the governance framework must evolve to keep up with changes in board participation, voting rules, regional representation, and economic models.

Cross-Border Payments 122

Cross-Border Payments Cross-Border Interoperability Payments 122

PYMNTS

NOVEMBER 18, 2019

Legislation in California that aims to expand worker protections for so-called gig economy workers has led to a debate in the state’s freight services market and a lawsuit hoping to block the law. Critics of the law say it will render those independent owner-operators unable to operate, likely leading to supply chain disruptions.

Laws 40

Laws Legal Continuity Blocks 40

The Payments Association

DECEMBER 9, 2024

Quickly spotting discrepancies helps financial institutions block suspicious transactions, minimising losses. Laws such as the General Data Protection Regulation (GDPR) and Payment Services Directive 2 (PSD2) were designed to safeguard user data and ensure secure transactions. billion euros in fines.

Privacy 88

Privacy Payment Security AI Security 88

PYMNTS

FEBRUARY 5, 2019

1, new eCommerce rules in India began limiting what online retailers like Amazon and Flipkart can sell in the country. The eCommerce rules block companies from selling items through vendors in which they have an equity interest, which forced Amazon to remove hundreds of thousands of products from its website in India.

Laws 49

Laws Rules Blocks Regulations 49

PYMNTS

OCTOBER 26, 2018

“Common sense and the law tell us that a non-bank is not a bank,” said CSBS President and CEO John Ryan in a statement announcing the suit. But legal hurdles have caused some FinTechs to approach the charters cautiously, reports said, while they wait for greater clarity and certainty on the rules. The body of U.S.

Office of the Comptroller of the Currency 62

Office of the Comptroller of the Currency OCC Regs Blocks 62

PYMNTS

DECEMBER 4, 2018

The company was accused of setting rules that blocked banks in one EU country from offering lower interchange fees to a retailer in another EU country. Mastercard actually stopped the practice in December of 2015 after the European Commission (EC) adopted charge-capping rules.

Visa 53

Visa Laws Caps Debit Card 53

PYMNTS

MAY 11, 2016

district judge ruled against Staples’ proposed acquisition of Office Depot, reports Bloomberg , effectively putting to an end the two office supply chains’ long-gestating efforts to merge into one. Late in the day yesterday (May 10), a U.S.

Rules 40

Rules Federal Trade Commission FTC Laws 40

PYMNTS

SEPTEMBER 27, 2017

Facebook faces orders from the Russian Federation to comply with an internet regulation law that orders the company to store Russians’ personal data on Russian servers. If Facebook does not comply, the Russian government will block the social media website next year. In 2018, everything will be as it should be for sure.

Blocks 41

Blocks Laws Government Governance 41

Global Fintech & Digital Assets

OCTOBER 31, 2023

Licensees, exchanges, and other market participants should prepare to comply with the listing, disclosure, capital, and other requirements that the new law imposes. Issuers of stablecoins would therefore need to be licensed unless they block California residents, but not issuers of utility tokens or creators of tokenized real-world assets.

Laws 52

Laws Stablecoins Issuers Legal 52

PYMNTS

MAY 25, 2018

Furthermore, Schrems claims “Facebook has even blocked accounts of users who have not given consent.” But, with the law, users must be given a free choice. According to Reuters, many regulators lack power because governments haven’t updated laws to include ones that are Europe-wide.

Privacy 70

Privacy Laws Regulations Rules 70

PYMNTS

MAY 5, 2016

Later this morning the CFPB will begin taking comments on proposed rules that would ban financial firms from placing mandatory arbitration clauses within consumer contracts. Many banks and financial companies avoid accountability by putting arbitration clauses in their contracts that block groups of their customers from suing them.

CFPB 40

CFPB Rules Credit Cards Disputes 40

PYMNTS

NOVEMBER 23, 2016

22) the rules could hurt online shopping and may not boost security. Visa went on to argue that eCommerce sales could decline in Europe if the EU rules were adopted because consumers would be put off by the new hurdles to make purchases online. as a way to cut down on fraud, which is on the rise online in Europe. “All

Cybersecurity 69

Cybersecurity Rules Payments NOV 69

PYMNTS

DECEMBER 29, 2016

The Internal Revenue Service has asked a court to dismiss a motion filed by a Coinbase user who wants the court to block the IRS from accessing transaction data. In response to that ruling, a Coinbase customer, Jeffrey K. In response to that ruling, a Coinbase customer, Jeffrey K.

IRS 43

IRS Blocks Payer Rules 43

PYMNTS

APRIL 16, 2019

got approval to move forward after a court reversed a ruling by the Competition Appeal Tribunal. Court of Appeal rejected the tribunal’s ruling from 2017, which had blocked the claimants from pursuing the case led by Walter Merricks, the former financial ombudsman. A consumer lawsuit against Mastercard in the U.K.

Visa 59

Visa Cross-Border Payments Cross-Border Rules 59

PYMNTS

NOVEMBER 14, 2019

The Federal Trade Commission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digital payments over alternative debit networks, sources told Bloomberg. A 2010 law known as the Durbin amendment — named for Illinois Democrat Sen. When chip cards began arriving in the U.S.

Debit Card 70

Debit Card FTC Visa Federal Trade Commission 70

PYMNTS

SEPTEMBER 27, 2019

The move helps both retailers get around laws that prevent grocers of all sizes from making employees work late-night hours or on Sunday afternoons. Grocery group Casino Guichard Perrachon, along with its rival Carrefour, have been experimenting with keeping select stores open even after their employees go home.

Laws 43

Laws Automation Blocks On-Demand 43

PYMNTS

NOVEMBER 21, 2016

are facing a class-action lawsuit by consumers that allege they colluded to raise the cost of ATM access fees in what they say is a violation of antitrust law. According to a report by Fortune , last week, the Supreme Court ruled the class-action lawsuit can move forward. Visa, Mastercard and banks in the U.S.

Visa 66

Visa ATM Consumer Legal 66

PYMNTS

JUNE 12, 2019

Delrahim said the antitrust division of the Justice Department looks for rising prices, lower quality, loss of privacy and collusion when looking to see if a company violated antitrust laws. He said it also looks for cases in which there are exclusive deals that hurt rival companies on purpose.

Federal Trade Commission 55

Federal Trade Commission Rules FTC Blocks 55

PYMNTS

JULY 4, 2016

Spotify had sent the ‘anticompetitive’ accusation letter to Apple earlier last week, after Apple blocked an update to Spotify’s iOS app, allegedly to thwart any potential competition to its Apple Music service.

Rules 41

Rules Blocks Legal Laws 41

PYMNTS

OCTOBER 1, 2020

Mitiga is working with law enforcement after uncovering a widespread business email compromise (BEC) scam that has netted more than $15 million.

Business Email Compromise 73

Business Email Compromise Scams Email Compromise Wire Transfer 73

Segpay

MARCH 24, 2025

This article will help you gain a better understanding of gaming and gambling laws in Down Under. KYC & Customer Due Diligence (CDD) Australia: Risk-based approach, with minimum KYC checks under the AML/CTF Rules. Casinos and online gambling firms follow Bank Secrecy Act (BSA) rules and file Suspicious Activity Reports (SARs).

Compliance 71

Compliance Suspicious Activity Report (SAR) Fincen AML 71

PYMNTS

JUNE 14, 2017

A bipartisan bill that’s being sponsored by eight senators is making the rounds and is aimed at blocking federal banking regulators from pushing a financial institution to stop serving marijuana businesses or the businesses’ landlords or lawyers in states where the drug has been made legal for medical or recreational purposes.

Legal 71

Legal Laws Blocks Bitcoin 71

Stax

JANUARY 15, 2024

Surcharging involves understanding federal laws, state-specific restrictions, and international regulations. Be sure to understand federal laws, state regulations, and international standards to sidestep potential legal issues. Surcharging restrictions for multi-location businesses can get confusing. ​​In Enter the PCI DSS compliance.

Credit Cards 88

Credit Cards PCI DSS Compliance Process 88

PYMNTS

OCTOBER 14, 2020

That earlier ruling found both firms were required under the new legislation to reclassify their workers. In a world where AB 5 as the law of the land, he noted, and all those drivers have to be full-time or part time employees — three quarters of their current workforce would have to go. As of today, he noted, Uber employs about 1.7

Laws 83

Laws Economy Rules On-Demand 83

PYMNTS

APRIL 10, 2020

There is a precedent for the request, as debt collection companies are blocked from taking Social Security payments. The National Consumer Law Center told CNBC it has lobbied the Treasury to enact new rules to protect people in debt, and is urging states to take action if the Treasury does not. Josh Hawley (R-Mo.)

Treasury 61

Treasury Consumer Laws Social Security 61

PYMNTS

MAY 26, 2016

“In the online world, all too often, consumers are blocked from accessing offers in other countries,” the commission said in a statement, according to Reuters. But if it did go into effect, online retailers could no longer block users based on the location of where they are shopping from.

Rules 40

Rules Cross-Border Blocks Laws 40

PYMNTS

OCTOBER 14, 2016

Emin Gün Sirer from Cornell made a pertinent statement on the final day of the Scaling Bitcoin conference: “We were all busy arguing about the block size, but everything else is crucial.” ” For many, block size is no longer the way to increase the network’s capacity. Let’s talk about throughput.

Bitcoin 77

Bitcoin Blocks Central Bank Digital Currency 77

Fintech News

JULY 24, 2024

There are no exhaustive or proper regulations of repurchase activities, hence RBI may see it as a circumvention of the FLDG rule. Operating under the FLDG rule is risky in itself because it does not allow fintechs to work with the segments that they are primarily targeting. Once it reaches this limit, it has to get a license to lend.

Non-Bank 113

Non-Bank Risk Regulations FinTech 113

FICO

JUNE 18, 2018

You can analyse the European landscape by dividing the countries into 3 blocks. Block 1 — Countries with NPL ratios > 20%. This block, which includes Greece and Cyprus, has seen little movement in the past three years in average NPL ratios and coverage percentages. Block 3 — Countries at or below the EU average.

Blocks 63

Blocks Non-Bank Risk Volume 63

Stax

MARCH 11, 2025

So, if you want to support this payment method, you must constantly stay aware of evolving regulations to ensure you are always on the right side of the law. AI-based fraud detection Many of the algorithms that power the advanced fraud detection tools found on popular payment gateways are designed around rule-based fraud detection mechanisms.

Online Payment Processing 88

Online Payment Processing Process Payment Gateways Online and Mobile Banking 88

PYMNTS

JUNE 17, 2019

Promising as intelligence of things (IoT) solutions are, though, security has been a stumbling block. Last year, the state of California passed an IoT security law, SB 327 , which is set to go into effect January 1, 2020. Smart technology is what makes ordering by voice and remotely monitoring your home possible.

Security 69

Security Laws Interoperability Credential 69

PYMNTS

MAY 28, 2020

Users pay fees to miners for transactions on the blockchain, and miners also receive a fixed amount of BTC for each block mined, which halves every four years. The mining difficulty, which shows how hard it is to mine blocks, was lowered 6 percent to 15.14 The last halving was on May 11, 2020.

Bitcoin 56

Bitcoin Cryptocurrency Blocks Blockchain 56

PYMNTS

JULY 7, 2016

Basically, Rosenbloom is saying that every new startup off the block thinks it can disrupt and then take control of its given market the same way Facebook or Uber or Warby Parker did. Also, let’s pause for a minute here to remember that there is a reason that nine out of every 10 startups fail.

Rules 40

Rules Blocks Caps Laws 40

PYMNTS

APRIL 18, 2018

Russia is making good on its threat to ban Telegram by blocking IP addresses owned by Google and Amazon, saying they were being used by the messaging service. On Monday (April 16), a Russian court made it easier for the government to block Telegram after its creators refused to turn over access to its users’ encrypted messages.

Blocks 43

Blocks Encryption Authorization Addressing 43

PYMNTS

JUNE 29, 2016

On Tuesday (June 28) The US Supreme Court agreed to hear appeals by Visa Inc, MasterCard Inc and several US banks seeking to throw out lawsuits claiming they conspired to inflate the prices of ATM access fees in violation of antitrust law.

ATM 40

ATM Visa Rules Blocks 40