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Regulators are working around the clock to cement four years of tech policy ahead of the inauguration of President-elect Donald J. Trump. After last month's presidential election, Lina Khan, the [...]

Republicans are unlikely to abolish the Consumer Financial Protection Bureau, but they will drastically rework its rules and activities. Rohit Chopra is using his final weeks as director of the [...]

Byline: ERICA ALINI; Staff Joe Baradziej was surprised to discover, at the beginning of April, that low-fee money transfer platform Wise had closed a multicurrency account he'd been using for [...]

Abstract: In recent years, technological innovations have greatly improved the way and manner customers conduct banking transaction one of which is mobile banking. This novel way of banking transaction come [...]

Go tot Guide The final rule (Rule) establishes the Consumer Financial Protection Bureau's (CFPB)'s supervisory authority (i.e., examination authority) over nonbank covered persons that are 'larger participants' in the 'general-use [...]

In response to the growing threat of fraud committed through online payment mechanisms, on October 23, 2024, the Polish Competition and Consumer Protection Authority ('UOKiK') presented recommendations for payment service [...]

In this issue. The Consumer Financial Protection Bureau (CFPB) finalized a rule on federal oversight of popular digital payment apps; the CFPB proposed a rule to regulate the sale of [...]

The U.S. technology landscape is poised to experience significant transformations under the second Trump administration. Key sectors such as the semiconductor industry, autonomous vehicles, and digital payments may experience substantial [...]

Welcome to Wiley's update on recent developments and what's next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze [...]

On Nov. 21, 2024, the Consumer Financial Protection Bureau ('CFPB') issued a final rule ('Final Rule') that establishes its supervisory authority over nonbank covered entities identified as larger participants in [...]

On November 21, the Consumer Financial Protection Bureau (CFPB) finalized a rule to supervise nonbank companies that offer digital wallets and payment apps. The rule allows the CFPB to supervise [...]

Last Thursday, the Consumer Financial Protection Bureau (CFPB) announced a Final Rule authorizing the agency to supervise and conduct examinations of certain non-bank providers of digital wallets and payment apps [...]

On November 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) providing it with supervisory authority over nonbank digital payments companies that meet specific thresholds. This [...]

General Updates Prime Minister's Internship ('PMI') Scheme launched The PMI Scheme has become operational through a centralised online portal, which manages the entire internship lifecycle and provides a dedicated dashboard [...]

As part of our series following the evolution of the Retail Payments Activities Act (RPAA) as we approach the initial registration period commencing on November 1, 2024, we highlight key [...]

Payment Gateway in Turkey: Guide & Key Regulations Establishing a Payment Gateway (PG) company in Turkey presents an exciting opportunity for entrepreneurs and fintech firms, as Turkey's rapidly growing digital [...]

On September 12, 2024, the Ministry of Finance issued the Foreign Exchange (Compounding Proceedings) Rules, 2024 ('2024 Rules'). The 2024 Rules supersede the Foreign Exchange (Compounding Proceedings) Rules, 2000 ('2000 [...]

Introduction The Reserve Bank of India (RBI) on 30 July 2024 issued its 'Master Directions on Cyber Resilience and Digital Payment Security Controls for Non-bank Payment System Operators' (Master Directions). [...]

Introduction As part of the Central Bank of Nigeria's (the 'CBN') efforts to maintain a transparent transactions settlement system, the CBN issued a Payment Terminal Service Aggregator (PTSA) license to [...]

Curve Finance, a decentralized exchange, is considering dropping TrueUSD (TUSD) from its list of collateral for Curve Stablecoin (crvUSD) after US regulators charged TrueCoin with securities law violations. Wormhole proposed [...]

Seoul, South Korea: Financial Services Commission (South Korea) has issued the following news release: The Financial Services Commission announced a set of measures intended to improve regulations on electronic payment [...]

M2 PRESSWIRE-August 16, 2024-: Payments System Board Update: August 2024 Meeting (C)1994-2024 M2 COMMUNICATIONS RDATE:15082024 At its meeting today, the Payments System Board discussed a number of issues, including: *The [...]

The fight against fraud mandated by Directive No. 2015/2366 on payment services in the European Union ('PSD2') has sometimes been limited by Regulation (EU) 2016/679 of the European Parliament and [...]

Summary 2023 has been a pivotal year for the world of payments and digital finance in Europe. Various legislative proposals have been published at the European level, including the reform [...]

On 1 July 2024, Decree No. 52/2024/ND-CP on Non-Cash Payment (Decree 52) came into effect replacing its previous iteration (Decree 101). Decree 52 provides a clear definition of electronic money [...]

BACKGROUND With India moving closer to the financial inclusion mission day by day, digital payments have seen wide acceptance. A large section of the population has found comfort and convenience [...]

In a previous e-zine, we discussed a Commission proposal (the Proposal) to accelerate the rollout of instant payments. Yesterday 19 March 2024, the adopted instant payments Regulation (the Regulation) was [...]

Introduction The Reserve Bank of India (RBI) on 16 April 2024 issued two draft directions (Draft Directions) on regulation of payment aggregators (PAs), viz., (i) draft directions (Draft PA-P Directions) [...]

INTRODUCTION As the Indian fintech landscape continues to evolve rapidly, the beginning of the financial year 2024-2025 was no exception and was inundated with a host of power moves from [...]

In a world where technology advances daily, and companies and people must adapt accordingly, mobile payments have been an area that has undergone a global revolution, but nowhere is this [...]

On 19 March 2024, the Instant Credit Transfers in Euro Regulation (Regulation (EU) 2024/886 - the Regulation) was published in the European Union (EU) Official Journal. The Regulation amends amongst [...]

In April 2024, the Reserve Bank of India ('RBI') issued the Draft Circular for the Regulation of Payment Aggregators ('Draft Circular'), in keeping with their pivotal role in the ever-evolving [...]

In recent times, the Electronic Money Transfer Levy (EMTL) has become an integral part of Nigeria's tax and financial landscape. This levy is, among others, primarily designed to generate revenue [...]

The publication of final regulations (the 'Regulations') under the Retail Payment Activities Act (the 'RPAA') on November 22, 2023, signified a major advancement in the creation of the Bank of [...]

In February 2024, the Nigerian equities market faced volatility, resulting in a N1.3 trillion loss for investors. The NGX All Share Index depreciated by 2.4%, breaking a four-month growth streak. [...]

The Justice Department's lawsuit against Apple is the latest in a series of regulatory actions that are hitting the tech giant at the same time. For more than a decade, [...]

W  hen John Chetwynd, a 28-year-old graduate of the University of San Francisco, visited China in July, his US-based bank became “concerned” about transactions made on the Alipay mobile payments platform. [...]

The Department of the Registrar of Companies and Intellectual Property of the Republic of Cyprus, announces that in accordance with the Companies (Amendment) Law 2024, N.25(I)/2024, the annual government fee [...]

Mumbai: Press Release titled 'Infibeam Avenues''s CCAvenue becomes First Indian Payment Gateway Player to secure eMSP Payment Technical Service Provider Approval from SAMA (Saudi Payments) Also Forges Payment Processing Partnership [...]

1. Regulatory Updates 1.1. India 1.1.1. RBI Governor announces principle-based framework for digital payment authentication During the first Monetary Policy Committee ('MPC') statement of 2024, Reserve Bank of India ('RBI') [...]

The Reserve Bank of India (RBI) has brought under its direct regulation all entities facilitating cross-border payments for import and export of goods and services. Such entities will be termed [...]

2024 FEB 8 (NewsRx) -- By a News Reporter-Staff News Editor at FDA Law Weekly -- Data detailed on COVID-19 have been presented. According to news reporting from the Vrije [...]

Byline: DAVID DODGE, BOB FAY David Dodge is a former governor of the Bank of Canada and deputy minister of finance. He is senior adviser at Bennett Jones LLP. Bob [...]