The Fintech Times

DECEMBER 19, 2023

The focus is now on introducing limited and proportional regulation while considering BNPL services as a cost-effective means for consumers to access flexible credit. The proposed changes aim to strike a balance between consumer protection and fostering innovation within the BNPL sector.

BNPL 114

BNPL Regulations Finance Consumer Protection 114

Fintech News

DECEMBER 13, 2024

Operating on Ethereum and other blockchain networks, XSGD boasts a market cap exceeding $18 million. With a market cap of $4.8 Despite its smaller market cap of $124,960, XIDRs integration into Indonesias evolving blockchain infrastructure positions it for future growth.

Stablecoins 109

Stablecoins Cross-Border Cross-Border Payments Caps 109

PYMNTS

AUGUST 11, 2019

It argues that the company knew about the vulnerability exploited by Thompson and “did nothing to fix it,” and also violated Washington state’s Consumer Protection Act and Data Breach Disclosure Law. The newest lawsuit, which was filed this week in federal court in Seattle, also includes Amazon as a defendant.

Caps 53

Caps Posting Breach Data Breach 53

The Payments Association

OCTOBER 21, 2024

The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. This can be achieved by enabling data and intelligence sharing between firms and across sectors so effective controls and protections can be implemented, helping to keep everyone safe.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

The Fintech Times

JANUARY 14, 2024

The American Fintech Council (AFC), the industry association representing responsible fintech companies and innovative banks, offered testimony before the Washington State House Committee on Consumer Protection and Business recommending key amendments to legislation recently introduced. Earned wage access or loan?

Regulatory Compliance 65

Regulatory Compliance Consumer Protection Compliance Regulations 65

PYMNTS

MARCH 11, 2020

Consumer advocates are pushing federal banking regulators to do something about rent-a-banks with notoriously sky-high loan rates that prey on people with bad credit, the Wall Street Journal (WSJ) reported on Wednesday (March 11). Utah has no caps on interest rates. “A South Dakota passed a law in 2016, followed by Colorado in 2018.

Regulations 58

Regulations Caps Laws Underwriting 58

Fintech News

SEPTEMBER 29, 2024

In the UK, the government has announced plans to regulate the BNPL industry, emphasizing the importance of protecting consumers and creating certainty for the industry. According to estimates from super-app operator Grab, BNPL spending in Southeast Asia is projected to grow by over US$7.9 billion by 2025, reaching a total of US$8.83

BNPL 131

BNPL Scams Identity Theft Non-Bank 131

The Fintech Times

SEPTEMBER 4, 2024

According to the PSR, the new cap still covers 99 per cent of APP scam claims, based on its review of more than 250,000 cases, only 18 of which involved losses exceeding £415,000. The regulator defended the reduced threshold as maintaining strong consumer protections while addressing concerns from financial firms.

Regulations 59

Regulations Scams Payments Caps 59

The Fintech Times

APRIL 22, 2024

It’s like Bitcoin and has a high market cap, this one I heard about in the news. When addressing the subject of risk, many naturally focus on the concept of regulation and consumer protection. It’s booming, so I’m going to get in on it. Oh, this one my brother told me about. What’s next?

Finance 131

Finance Blockchain Cryptocurrency Regulations 131

Stax

DECEMBER 20, 2023

On a federal level, the Durbin Amendment , part of the Dodd-Frank Wall Street Reform and Consumer Protection Act was introduced in 2010 and limits transaction fees. No, surcharging for debit card transactions is prohibited under the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Debit Card 88

Debit Card Legal Credit Cards Processing Costs 88

The Fintech Times

MARCH 16, 2024

Phil Goldfeder, CEO, AFC “Under the guise of consumer protection, these bills in Rhode Island and DC will harm consumers who need access to safe and affordable financial services and will put local state-chartered banks at a disadvantage,” said Phil Goldfeder , chief executive officer of AFC.

Community Banks 59

Community Banks Consumer Protection Regulatory Compliance FinTech 59

PYMNTS

MAY 20, 2016

Lending Club, for its part, said that it plans to cooperate with the DFS investigation, which also looks for information on underwriting and other business procedures and how these myriad practices square with consumer protection laws and laws governing fair business practices. The requested New York information dates back to 2013.

Regulations 40

Regulations Laws Caps Underwriting 40

Stax

DECEMBER 13, 2023

Visa caps the surcharge rate at 3% (Mastercard caps it at 4%) and it can be as low as 2% in certain states (e.g. If a merchant doesn’t display a credit card surcharge sign and imposes a surcharge, they may be violating consumer protection laws and regulations regarding transparency and fair trading.

Credit Cards 88

Credit Cards Debit Card Laws Rules 88

Electronic Payments Coalition

MARCH 26, 2024

merchants, more than 90 percent of which are small businesses, lowering credit interchange rates and capping those rates into 2030. The agreement will cap the reduced credit interchange rates for five years, providing an unprecedented level of cost certainty long sought by merchants. merchants, comprised largely of small businesses.

Agreements 52

Agreements Payment Networks Settlement Credit Cards 52

PYMNTS

OCTOBER 24, 2019

There is need for consumer protection. Earlier this year , five banks in the country collaborated on a mobile lending solution to address the credit squeeze on small businesses resulting from government caps on lending rates. These mobile loan apps have commercialized poverty.”.

Regulations 40

Regulations Central Bank Small Business Laws 40

Clearly Payments

FEBRUARY 12, 2024

Interventions such as countries putting caps on interchange fees and mandates for transparent pricing aim to foster competition and protect consumer interests. As global payment networks, they must navigate complex regulatory frameworks governing payment processing, AML/CFT , and consumer protection in multiple jurisdictions.

Visa 105

Visa Payments Payment Networks Online and Mobile Banking 105

PYMNTS

MAY 30, 2018

Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the ballot.

FBI 40

FBI Credit Union Laws Caps 40

PYMNTS

DECEMBER 11, 2020

Democrats and Republicans are going after this from different angles, he noted, but they’re all targeting Big Tech firms in the name of consumer protection – even though that’s protection that consumers don’t really seem to want. “I He said that going after Big Tech is increasingly becoming a bipartisan issue.

FTC 75

FTC BNPL Payments Federal Trade Commission 75

PYMNTS

JUNE 7, 2018

Smaller banking advocates pushed back and fought to secure the $250 billion cap, lest bipartisan support for the bill be lost. “We As the bill was moving through Congress, larger banks pushed to raise that oversight threshold to $500 billion or adopt a more flexible approach to big-bank scrutiny.

Community Banks 62

Community Banks Online and Mobile Banking Credit Union Caps 62

PYMNTS

MAY 4, 2018

The suit also alleges that NetCredit ran afoul of the state’s usury cap of 12 percent. That maximum rate applies to most consumer loans, with some exceptions. In a lawsuit, the state alleges that NetCredit lent more than $47 million in illegal high-interest loans, The Daily Press reported.

Consumer 43

Consumer Federal Reserve Caps Laws 43

PYMNTS

APRIL 19, 2016

” The White House took the opportunity to give the CFPB a shout-out too, noting that the consumer protection agency was dedicated to creating and enforcing the sort of regulations and controls necessary to keep consumers safe from the worst predations of predatory lenders.

CFPB 40

CFPB Consumer Protection Addressing Laws 40

The Payments Association

MAY 16, 2025

Merchant groups argue these increases are unjustified and ultimately borne by UK businesses and consumers. The PSR is weighing whether to reintroduce caps or impose disclosure requirements, in what could become one of the most financially significant regulatory changes for online merchants with international customers. for credit.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

PYMNTS

JANUARY 16, 2018

The same rule arguably allows these tribes to offer loans that do not conform to state lending laws for things like interest rate caps or term length restrictions – even if they are making loans to borrowers outside of tribal territory. Sovereign immunity on tribal lands is why Native American tribes so often operate casinos, for example.

Laws 47

Laws Regulations CFPB On-Demand 47

Global Fintech & Digital Assets

FEBRUARY 13, 2024

When consulting on the VATP regime, the SFC and FSTB concluded that regulating VA exchanges was a priority whereas OTC trading activity was omitted on the basis that it was not a material consumer protection risk at that time.

Regulations 59

Regulations Money Laundering Consulting Stablecoins 59

PYMNTS

AUGUST 14, 2018

Try to beat ’em is, of course, a tall order, given that Amazon’s market cap clocks in at over $900 billion – a valuation backed by its massive logistics network, army of 100 million loyal Prime customers, web services profit machine and evolving and expanding commerce ecosystem. It’s not a risk-free approach.

Caps 40

Caps Risk Consumer Protection Consumer 40

PYMNTS

MAY 13, 2016

government officials and industry thought-leaders establish an appropriate balance between basic consumer protection regulation and an openness which not only permits, but fosters and promotes, innovation. It will, however, place a cap on bitcoin payments at 200 francs (around $206) and can be used for public utility payments.

Bitcoin 45

Bitcoin Digital Currency Blockchain Regulations 45

Cardfellow

FEBRUARY 27, 2025

The Durbin Amendment and PIN Debit Routing In the processing world, the Durbin Amendment to the Dodd Frank Wall Street Reform and Consumer Protection Act (commonly just called the Durbin Amendment) gets the most attention for its cap on debit interchange fees.

Debit Transaction 40

Debit Transaction AI Transactions Debit Network 40

Clearly Payments

JANUARY 8, 2025

Bitcoin, Ethereum, Binance Coin, and several others remain the largest by market cap. Other key factors include: Consumer Protection : Most credit cards come with fraud protection and the ability to dispute charges, building trust among users. However, concerns over personal debt and hidden charges linger.

Credit Cards 105

Credit Cards Cryptocurrency Cross-Border Volume 105

The Payments Association

NOVEMBER 18, 2024

of the total cryptocurrency market capitalization, with a total market cap of $162.36 Tether (USDT) remains the dominant stablecoin, with a market cap of $125 billion as of November 13, 2024. USD Coin (USDC) is the second-largest, with a market cap of $35.58 As of June 2024, stablecoins accounted for 6.5% billion in May 2022.

Stablecoins 88

Stablecoins Distributed Ledger Technology (DLT) Digital Currency Caps 88

The Payments Association

APRIL 14, 2025

It mirrors existing offences in anti-bribery and tax evasion, but with a sharper focus on consumer protection and market integrity. This regulatory shift aims to strengthen consumer protection and curb misleading or irresponsible marketing in the high-risk cryptoasset sector.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

PYMNTS

APRIL 27, 2017

The fee caps were issued in response to a price-fixing practice by the card industry. The House Financial Services Committee held a hearing yesterday morning on the Financial Choice Act, the legislation that would repeal debit swipe fee reform as part of a larger rollback of Dodd-Frank and the Consumer Protection Act.

Debit Card 40

Debit Card Caps Consumer Protection Laws 40

FICO

DECEMBER 15, 2020

For the past several years, industry has been anxiously waiting for the FCC to clarify one of the most unsettled areas of the now antiquated, nearly three decades old Telephone Consumer Protection Act.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52

PYMNTS

NOVEMBER 28, 2016

Basic steps include: appointing commissioners, assuming that’s the direction pursued, that recognize the value of consumer financial services products for people in diverse economic circumstances; mandating that the regulations maximize economic welfare after accounting for benefits and costs; and.

Consumer 51

Consumer CFPB Credit Cards Federal Reserve 51