CFPB may take legal action against Block
Payments Dive
FEBRUARY 23, 2024
The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.
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Payments Dive
FEBRUARY 23, 2024
The bureau has informed the digital payment company it’s weighing legal action related to a Cash App probe.
Fintech News
OCTOBER 22, 2024
In addition to the license revocation, Investree is prohibited from transferring or obscuring company assets, except for fulfilling legal obligations, and must resolve employee rights in line with employment laws. The regulator shared that asset tracing and potential legal proceedings are underway.
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Fintech News
AUGUST 25, 2024
According to DealStreetAsia , this move comes as the company faces ongoing investigations and legal challenges from lenders. Concerns escalated after co-founder Adrian Gunadi was dismissed in January amid fraud and contract breach allegations, leading to legal action and his removal as director.
The Fintech Times
MAY 14, 2024
Communications, marketing and legal teams are all seeing transformative change due to gen AI integration. Legal: Klarna’s lawyers are using ChatGPT Enterprise to create the first draft of common types of contract, massively reducing the time it takes to draw up a contract. per cent, 87.9 per cent, and 86.4 per cent respectively.
Fintech News
APRIL 1, 2024
The announcement comes as the company seeks to navigate through the aftermath of legal challenges in the United States , including a guilty plea to violations related to anti-money laundering and sanctions. Binance Holdings, operator of a crypto exchange of the same name, has established its first board of directors.
The Payments Association
JANUARY 13, 2025
Navigating legal uncertainty: How the Digital Assets Bill could impact PSPs January 13 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The impact of the UK Digital Assets Bill on PSPs, highlighting legal uncertainties, operational challenges, and strategic opportunities. Why is it important?
Bank Automation
SEPTEMBER 16, 2024
7, are suing Ally Financial subsidiary Detroit-based Ally Bank for: […] The post Ally faces legal battle after data breach appeared first on Bank Automation News. Plaintiff Sebastian Owens, among others in the class action suit, according to court documents filed in the District Court of Western District of North Carolina on Sept.
VISTA InfoSec
OCTOBER 21, 2024
Relevant Skills of a Qualified DPO Deep understanding of Data Protection Laws, such as GDPR, CCPA, and others to ensure compliance with legal requirements. Strong communication skills to easily convey technical and legal concepts to the stakeholders, regulators, and employees. Internal vs. External DPO: Who is Better?
Payments Dive
MAY 6, 2022
That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized. In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines.
Payments Dive
OCTOBER 1, 2024
billion to a litigation escrow account as it battles a Justice Department lawsuit and ongoing legal case with merchants. The company added $1.5
Finextra
FEBRUARY 3, 2025
million investment into legal and financial technology specialist, Semeris. Puma Growth Partners (Puma), a leading provider of growth capital to small and medium-sized businesses, has led a $4.3
VISTA InfoSec
MAY 24, 2024
It helps fulfil its legal and regulatory obligations related to data protection and privacy to prevent the risk of facing legal action, regulatory fines, and sanctions for failing to safeguard customer information adequately.
Finextra
NOVEMBER 25, 2024
Just five months after BBVA distributed 3,000 ChatGPT Enterprise licenses among its employees, 83 percent have incorporated it into their work routine and have created nearly 3,000 adaptations of the tool for specific tasks, ranging from financial data analysis to help to solve legal questions from clients in less than 24 hours or provide customer (..)
Fintech News
JULY 28, 2024
They highlighted issues such as the merging of pension payments with severance packages, which they argue might not comply with Indonesian legal standards. Bank Commonwealth assured that it would adhere to legal requirements in compensating laid-off employees.
Fintech Finance
JUNE 21, 2024
Shieldpay , the payments partner for the legal sector, is working with KPMG Law UK (part of KPMG LLP) to provide payments services for its high value, complex client transactions. They have an innovative and ambitious approach to legal services, reflecting the changing needs of businesses and the evolution of the sector.
Fintech News
JANUARY 9, 2024
Despite concerns raised by the Office of the Council of State regarding the financing of this programme, they have not identified any legal impediments to the government’s plan to borrow funds for this purpose.
VISTA InfoSec
SEPTEMBER 27, 2024
Relevant Skills of a Qualified DPO Deep understanding of Data Protection Laws, such as GDPR, CCPA, and others to ensure compliance with legal requirements. Strong communication skills to easily convey technical and legal concepts to the stakeholders, regulators, and employees. Internal vs. External DPO: Who is Better?
VISTA InfoSec
APRIL 5, 2024
The road to recovery could be expensive if it involves customer complaints, internal investigation, and legal proceedings. The aftermath of a data security concern could change the landscape of your business, depending on the incident.
TechCrunch Fintech
NOVEMBER 30, 2023
Founded in 2015, Yieldstreet gives people a way to invest in areas like real estate, marine/shipping, legal finance, commercial loans and […] © 2023 TechCrunch. Financial terms of the deal were not disclosed. All rights reserved. For personal use only.
Fintech Finance
DECEMBER 11, 2024
With a proven track record in transforming financial data collection across different sectors, Armalytix has developed a sophisticated platform that streamlines Source of Funds (SoF) verification, addressing long-standing challenges in legal financial processing.
Open Banking Excellence
JULY 11, 2024
They have expertise in a range of areas, including marketing, legal, business development and more. Our programme is designed to connect FinTech founders with industry experts to support entrepreneurs on their start-up journey. Our mentors are carefully selected from our FinTech community.
VISTA InfoSec
MAY 12, 2024
Work with PCI DSS Compliant Vendors While the PCI DSS (Payment Card Industry Data Security Standard) is not a legal requirement, it is a sign that an organization or a product is up to par when it comes to combating common cyber threats. To keep your business secure, only engage with payment processors and vendors that comply with PCI DSS.
Fintech News
APRIL 22, 2024
Previously, the SEC has taken legal actions against unauthorised operators soliciting digital asset services within Thailand, including high-profile cases involving foreign platforms like Binance and Bybit. Unlicensed operators do not offer legal protection, increasing the risk of scams and money laundering activities.
Fintech News
FEBRUARY 25, 2024
This recommendation comes after a thorough evaluation of Zipmex’s operations, highlighting concerns regarding the company’s compliance with legal financial standards and the sufficiency of its management structure. Zipmex clients seeking to recover their assets can reach out through the company’s official channels.
Stax
JULY 30, 2024
As of now, credit card surcharging is legal here but certain surcharges could be banned in the near future. Michigan – Credit card surcharging is legal here but there are strict rules regarding informing customers. However, Federal courts have declared this to be unconstitutional.
VISTA InfoSec
JUNE 21, 2023
However, due to the nature of cybercriminal activity, it is crucial to react quickly and correctly to contain the incident, minimize any further damages, and protect your business from legal troubles. Be sure to familiarize yourself with state laws, which your legal counsel will be able to help with. 5 - (2 votes)
Fintech Finance
JULY 16, 2024
These reports take forward priority actions under the G20 Roadmap to address legal, supervisory and regulatory frictions in cross-border payments to help achieve the quantitative targets in 2027. In response to these changes, legal, regulatory and supervisory frameworks that govern PSPs have had to rapidly adapt and evolve.
Fintech News
MAY 15, 2024
This partnership aims to tackle inefficiencies in current payment systems, particularly in cross-border transactions, which face various legal, regulatory, and technical challenges, as well as different operating hours and time zones. Enhanced financial integrity controls, such as anti-money laundering measures, are also a focus.
VISTA InfoSec
JUNE 26, 2024
Industries with stringent regulatory requirements, such as finance and healthcare, particularly benefit from strong cybersecurity, as compliance avoids legal penalties. Thus, due diligence in evaluating a company’s cybersecurity posture is crucial for an investor. 5 / 5 ( 1 vote )
VISTA InfoSec
FEBRUARY 25, 2024
You may face legal/regulatory penalties for violating disclosure laws. Business Intelligence Email inboxes, including attachments/metadata, contracts, strategic plans, product designs/code, proprietary research, trade secrets, intellectual property like patents, and confidential memos/documents.
Fintech News
APRIL 15, 2024
The investigation was led by a special committee under Temenos’ Non-Executive Chairman Thibault de Tersant and supported by legal and forensic experts from Schellenberg Wittmer Ltd, Sullivan & Cromwell LLP, and Alvarez & Marsal Switzerland LLC.
Fintech News
MARCH 31, 2024
This amendment established a legal and regulatory framework facilitating FIs to share critical customer data, but only under strict conditions. The introduction of COSMIC—short for Collaborative Sharing of Money Laundering/TF Information & Cases—follows the amendment of the Financial Services and Markets Act in May 2023.
VISTA InfoSec
MAY 2, 2024
Compliance is another essential aspect, particularly for businesses in regulated industries such as healthcare, finance, and legal. Managed IT service providers are well-versed in the specific compliance requirements of these sectors and ensure that your IT systems meet the necessary legal and ethical standards.
The Payments Association
JANUARY 13, 2025
2) End-state safeguarding rules: Statutory trust implementation: Relevant funds will be held under a statutory trust, providing additional legal protection for customers in the event of a firms insolvency. However, this introduces new complexities, including increased legal obligations and potential delays in fund distribution.
Fintech News
MARCH 18, 2024
According to the lender’s legal representative, this form of insurance, which covered merely 10% of the total funds, falls short of the protections promised by the platform. In response to these allegations, Modal Rakyat had reportedly pledged to respect the legal process and work towards resolving the dispute.
Payments Dive
SEPTEMBER 19, 2024
The card services company argued Wednesday that it has always been upfront with customers about fees, and was blindsided by the CFPB's legal action.
Fintech News
MAY 27, 2024
The consultation paper is available on the SEC’s website and the central legal hub. The SEC is conducting this public hearing to address issues and challenges related to the current decree and its associated regulations. The feedback will help ensure the decree is necessary, consistent, and effectively enforced. or dpsec@sec.or.th.
Fintech Finance
SEPTEMBER 17, 2024
21/2023, dated May 25th, which sets the legal framework for startups and scaleups in Portugal. This certification confirms that Akurateco meets all legal and regulatory requirements for scaleup status in Portugal. The recognition comes after the company successfully met all criteria outlined in Law No.
Fintech News
JUNE 2, 2024
Nguyen Xuan Viet Binh, Director of Moca said, “Moca commits that this strategic change will be implemented in accordance with current legal regulations, as well as will update specific information and instructions to users.
The Payments Association
OCTOBER 16, 2024
PEXA acquired Optima Legal in Q4 2022 to accelerate the adoption of its digital platform and its associated benefits for the UK market. Optima Legal provides legal services in the UK’s fee-assisted remortgage market, working directly with eight of the UK’s top eighteen mortgage lenders.
Fintech News
JANUARY 15, 2024
Airwallex has also faced challenges with a high-pressure culture and high staff attrition, particularly in its legal, risk, and compliance departments which saw a 14 percent staff exit in just one quarter of 2022.
Fintech News
JANUARY 31, 2024
The DAA seeks to unite various sectors, including financial institutions, fintech companies, technology providers, and legal and regulatory experts, to address the evolving landscape of tokenised real-world assets. Featured image: Digital Assets Association Exco.
Finextra
NOVEMBER 20, 2024
Brazilin digital banking giant Nubank is working with the new British government on plans to move its legal domicile to the UK, according to Bloomberg.
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