The Payments Association

OCTOBER 28, 2024

One of the key shifts in APP fraud this year involves the introduction of new reimbursement rules , which came into effect in October 2024. Collaboration with law enforcement and the Government The report stresses the importance of ongoing collaboration between financial institutions, regulators, and law enforcement.

Scams 88

Scams Push-to-Card Fraud Detection Online and Mobile Banking 88

PYMNTS

MARCH 20, 2020

The regulator will have the authority to request information from tech firms and also enforce other Indian laws aimed at consumer protection and fair competition, the sources said. The move aligns with laws passed in 2019 that tech firms like Amazon and Walmart’s Flipkart are having trouble complying with.

Rules 73

Rules Law Enforcement Laws Regulations 73

Fintech Finance

FEBRUARY 5, 2025

Curve , the ultimate digital wallet, has become the first to offer section 75 protection on purchases made through its Wallet. This is a step change in consumer protection, allowing users to make payments without worrying about losing money if a product is faulty or if theres a problem with the purchase.

Debit Card 59

Debit Card Consumer Protection Credit Cards Consumer 59

PYMNTS

JANUARY 10, 2019

A court in Germany handed down a harsh ruling about Amazon’s Dash buttons on Thursday (Jan. The court said the Dash buttons, which are small, Wi-Fi-connected devices that reorder items like laundry detergent and coffee, breaks consumer protection legislation because it doesn’t give consumers enough information about the product or its price.

Laws 57

Laws Consumer Consumer Protection Rules 57

The Fintech Times

FEBRUARY 6, 2025

Section 75 is a law that applies exclusively to credit cards, ensuring providers share responsibility with merchants for purchases ranging from 100 to 30,000. Debit card users have historically not had this level of protection, leaving them vulnerable in cases of faulty goods.

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Debit Card Credit Cards Payments Laws 64

PYMNTS

SEPTEMBER 30, 2020

It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. A lack of safety and soundness rules will expose the financial system to significant vulnerabilities.”. However, the banking industry doesn’t like that one bit. “We

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Office of the Comptroller of the Currency OCC Non-Bank Regulations 139

Fintech News

FEBRUARY 27, 2024

Japan Japan, as a forerunner in the adoption of customised cryptocurrency regulations, rolled out both the Travel Rule and stablecoin regulations in June 2023. South Korea In June 2023, South Korea enacted the Virtual Asset User Protection Act, marking its inaugural comprehensive digital asset law.

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APACS Regulations Stablecoins Cryptocurrency 132

PYMNTS

JUNE 7, 2019

The Bureau of Consumer Financial Protection (CFPB) has delayed the Aug. 19, 2019 compliance date for the mandatory underwriting provisions for its short-term, small-dollar (payday) rule, according to various reports. The CFPB is also correcting several errors in the rule. Compliance is being delayed 15 months, to Nov.

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CFPB Underwriting Rules Credit Union 53

Clearly Payments

NOVEMBER 18, 2024

Chargebacks, while essential for consumer protection, can pose significant challenges to businesses. Skills Required: Attention to detail, familiarity with card network rules, and proficiency in analyzing transaction data. Employee Training : Keep your team updated on card network rules and dispute resolution techniques.

PCI DSS 59

PCI DSS Address Verification System (AVS) Disputes Card Network Rules 59

The Payments Association

OCTOBER 21, 2024

The rule changes provide stronger consumer protection but also raise concerns about industry costs and potential fraud exploitation. Collaboration between regulators, law enforcement, and the counter-fraud community is needed to ensure the effectiveness of the reimbursement scheme and to mitigate emerging fraud risks.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

Fintech News

APRIL 3, 2025

Regulators are stepping in to impose stricter consumer protection measures, aiming to curb overspending and prevent debt traps. However, as scrutiny intensifies, questions remain on whether stricter lending laws will be introduced. Heres how select markets are responding in the Asia Pacific region. trillion rupiah (US$ 1.8

BNPL 113

BNPL Regulations Accreditation Consumer Protection 113

PYMNTS

AUGUST 4, 2016

According to a statement from Tarabella, Tinder breaches the EU’s rules when it comes to data protection because it encourages its users to agree to unclear clauses concerning how their personal data will be used, even once their accounts with the dating app are closed. It can show them, distribute them to whomever or even modify them.

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Laws Law Enforcement Rules Authorization 41

PYMNTS

NOVEMBER 4, 2020

regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”. Don’t let the lack of hard law in the U.S. , the Federal Reserve Bank of Boston said, “To date, U.S. One need only look to the U.K. for a foretaste. “A

Laws 68

Laws API Regulations Federal Reserve 68

The Payments Association

DECEMBER 9, 2024

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. So, while AI offers huge potential in payments, it’s crucial to ensure that it’s being used responsibly and in line with privacy laws.

Privacy 88

Privacy Payment Security AI Security 88

NFCW

NOVEMBER 27, 2023

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions.

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Consumer Financial Protection Bureau (CFPB) Rules CFPB Consumer 52

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

NOVEMBER 1, 2020

The regulations are wide in scope, including things like antitrust, privacy, data security and localization, consumer protection, advertising sales, billing and eCommerce, product liability, intellectual property and more, the report stated. The issue, according to the U.S.

Legal 94

Legal Regulations Consumer Protection Privacy 94

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. Market participants should therefore evaluate their path to compliance with the law as enacted, but should also expect further refinements from the DFPI in the coming 18 months.

Laws 52

Laws Stablecoins Issuers Legal 52

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 97

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

Stax

DECEMBER 20, 2023

This article explores the legal landscape surrounding surcharges, shedding light on the intricacies of state and federal laws and strategies for small businesses to manage processing costs. TL;DR Card brands such as Visa and MasterCard along with state and federal laws prohibit debit card surcharging.

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Debit Card Legal Credit Cards Processing Costs 88

Payments Source

JUNE 28, 2020

Two years after a consumer protection law changed how banks and other companies handle customer information, a new proposal aims for more sweeping reforms.

Privacy 67

Privacy Consumer Protection Laws Consumer 67

PYMNTS

APRIL 16, 2019

A consumer lawsuit against Mastercard in the U.K. 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.

Visa 59

Visa Cross-Border Payments Cross-Border Rules 59

Stax

DECEMBER 13, 2023

However, you must keep in mind several federal and state laws as well as credit card network guidelines (e.g. So make sure to follow all rules related to the placement, content, design, and compliance of your signage. Surcharging rules Surcharge laws and guidelines can vary from state to state.

Credit Cards 88

Credit Cards Debit Card Laws Rules 88

The Fintech Times

NOVEMBER 27, 2024

Striking a balance Although the FCA’s goals are clear, and many industry participants’ views are aligned on crypto regulation, scepticism remains among others, some of whom believe the rules could stifle market growth, innovation and competition in the crypto industry. This encourages experimentation while ensuring consumer protection.

Regulations 112

Regulations Stablecoins Risk Consulting 112

The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections.

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BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 64

The Payments Association

MARCH 18, 2025

Unlike Europe, there is no centralised regulatory framework governing open banking, though the Consumer Financial Protection Bureau (CFPB) has proposed a new rule that could establish a more standardised approach. As of 2023, account-to-account (A2A) transactions in the U.S. reached $1.1

Finance 88

Finance Payment APIs and Integration Non-Bank Embedded Finance 88

EBizCharge

MARCH 14, 2025

Depending on the companys rules, this period can range from a few days to weeks. Legal advice: Legal experts can help clarify terms, avoid vague language that may lead to misunderstandings, and ensure that the policy aligns with applicable refund and return laws. It ensures that both parties have enough time to process the request.

Returns 52

Returns Disputes Legal Non-Bank 52

The Fintech Times

AUGUST 14, 2024

Phil Goldfeder , CEO of the American Fintech Council “AI has the potential to drive a profound shift in the financial services landscape towards personalised services that better meet consumers’ unique needs – particularly those of underserved communities,” explained Phil Goldfeder , CEO of AFC. “A

Treasury 69

Treasury AI Innovation FinTech 69

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

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

Regulations 57

Regulations Cryptocurrency Digital Currency Rules 57

Segpay

MAY 5, 2025

The Financial Conduct Authority (FCA) has taken a principles-based approach , focusing on financial stability, consumer protection, and market integrity, rather than prescribing rigid rules for each type of digital asset.

Compliance 52

Compliance Regulations Stablecoins AML 52

PYMNTS

FEBRUARY 7, 2019

While there were many provisions to the payday lending rules as originally passed, the one that caused the greatest controversy was the “ability to repay” provision that would have required short-term lenders to establish a borrower’s ability to repay before offering them a small-dollar, short-term lending product. The Path To Revision.

CFPB 40

CFPB Rules Consumer Financial Protection Bureau (CFPB) Regulations 40

PYMNTS

DECEMBER 2, 2016

But after a two-year investigation, Washington State Insurance Commissioner Mike Kreidler ordered Zenefits to cease the free distribution of its employee benefits software , arguing that the tactic violates Washington state insurance law against inducements. The inducement law in Washington is clear,” Kreidler said.

Laws 51

Laws Consumer Protection Rules Regulations 51

PYMNTS

MARCH 19, 2019

We attorneys general have authority under consumer protection acts to do both,” said Mississippi Attorney General Jim Hood, according to CNBC , on Monday (March 18). “So It’ll either be in Congress or in a court of law,” he said. “If At some point in the future, there will be a reckoning.

Settlement 62

Settlement Consumer Protection Regulations Privacy 62

The Fintech Times

SEPTEMBER 21, 2024

FDIC’s response: tightening recordkeeping for fintech deposits The proposed rule focuses on ensuring banks have clearer visibility of the actual owners of deposits held by third-party fintech companies. Further, the proposed rule will strengthen compliance with anti-money laundering and countering the financing of terrorism law.”

FDIC 59

FDIC FinTech Rules Regulations 59

PYMNTS

MAY 28, 2019

According to the news outlet, law enforcement’s initiatives are “an unprecedented level of government attention” for the sector, which has evaded regulators by classifying merchant cash advances as non-loans and, therefore, exempt from personal loan protections under state and federal law.

FTC 56

FTC Federal Trade Commission Small Business Law Enforcement 56

The Fintech Times

DECEMBER 14, 2023

Regulations, which vary by region, encompass standards like Payment Card Industry Data Security Standard (PCI DSS), anti-money laundering (AML) laws, know your customer (KYC) requirements, and consumer protection laws.

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Acquirers PCI DSS Fraud Detection Cross-Border 59