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Regulatory Challenges in Fintech: Balancing Innovation and Consumer Protection

Fintech Review

However, this rapid growth brings significant regulatory challenges, primarily in balancing the need for innovation with the imperative of consumer protection. Consumer protection is not just a regulatory requirement : it is a fundamental right that must be safeguarded amidst advancing technology.

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Visa Boosts Consumer Protection With Smarter Bank Transfer Payments

Fintech Finance

Visa today announced that it is applying the company’s infrastructure, technology and capabilities to account-to-account (A2A) payments, giving consumers more control and protection on how they pay via bank transfers. This affects consumers, businesses and the wider UK economy.

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MAS Weighs In on Allianz-Income Deal, Focus on Consumer Protection

Fintech News

This will foster a competitive insurance market that offers choice, value and stability to protect the interests of policyholders.” ” Featured image credit: Edited from Freepik The post MAS Weighs In on Allianz-Income Deal, Focus on Consumer Protection appeared first on Fintech Singapore.

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MAS to Launch Revised Fair Dealing Guidelines for Greater Consumer Protection

Fintech News

With the guidelines in place, life insurers will be encouraged to innovate product designs that genuinely meet consumer needs while promoting positive behaviors. The guide simplifies the financial planning journey for consumers, providing easy to understand and implement rules of thumb for individuals at different life stages.

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CFPB takes aim at digital payment privacy and consumer protections

Finextra

The Consumer Financial Protection Bureau is looking into how it can apply existing privacy and consumer protections laws to emerging digital payments offered through Big Tech, as well as stablecoins and other cryptocurrencies.

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CFPB Slaps Equifax With $15Million Fine for Mishandling Consumer Credit Disputes

The Fintech Times

The Consumer Financial Protection Bureau (CFPB), the consumer protection agency in the US, has hit Equifax with a $15million fine, after it found that the nationwide consumer reporting agency failed to conduct proper investigations of consumer disputes.

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Vietnam to Launch Two-Year Sandbox for P2P Lending, Data Sharing

Fintech News

The pilot is expected to guide future legislation while ensuring consumer protection in Vietnams growing fintech ecosystem. Authorities have warned that some firms exploit the P2P model to mislead the publicoffering inflated profit promises or advertising easy credit with misleadingly low rates, only to impose excessive hidden fees.

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