Legal

1060 articles tagged with this keyword

/payments

Bolt settles suit with customer Authentic Brands Group

Bolt has reached a settlement with one of its largest customers, which sued the check-out payments company over claims of faulty technology.

/regulation

Landmark Digital Services Package passed by European Parliament

The European Parliament has approved the Digital Services Package, comprising the Digital Services Act (DSA) and Digital Marketing Act (DMA), originally put forward by the European Commission in December 2020.

/regulation

Plaid proposes prioritisation of TPPs for PSD2 review

Open banking platform Plaid has made clear their position around PSD2 in a blog outlining their proposal to the Payments Service Directive (PSD2) review.

/regulation

ECB to issue eurozone warning over crypto regulation – FT

The European Central Bank (ECB) is expected to issue a strong warning to eurozone countries around the pressing need to harmonise regulation across the crypto industry, the FT reports.

/regulation

EU reaches agreement on landmark MiCA regulation for crypto

The Council Presidency and European Parliament have settled on the Markets in Crypto-Assets (MiCA) proposal; ruling that crypto-asset service providers will require authorisation to operate in the EU, not including NFTs or media-related digital assets.

/payments

FTC sues Walmart for facilitating money transfer fraud

The Federal Trade Commission (FTC) is suing Walmart, alleging that the retail giant "turned a blind eye" while fraudsters used its money transfer service to fleece consumers of hundreds of millions of dollars.

/security

Crook jailed for selling software to compromise bank accounts

A man has been sentenced to four and a half years in prison by a London court for selling criminals access to computer software that enabled them to compromise bank accounts.

/wholesale

Starling CEO threatens legal action over Agnew fraud allegations

Starling Bank CEO Anne Boden has threatened legal action against former anti-fraud minister Lord Agnew over his allegations that the bank used the Government's Covid loan scheme as a "God-sent opportunity" to swell its balance sheets without conducting adequate checks on the ability of loanees to repay the debt.

/retail

Metro Bank sued over 'magic money machines'

Metro Bank is being sued by US software company Arkeyo over allegations that it leaked the company's coin counting technology to a rival firm.

/payments

Australian competition watchdog sues Mastercard

Australia's competition watchdog has commenced legal proceedings against Mastercard for allegedly trying to stifle competition in the supply of debit card acceptance services.

/people

Wahed appoints former BlackRock lawyer to global legal team

Global Islamic fintech company, Wahed, has just announced the appointment of former BlackRock lawyer, Shahan Jamil, as deputy general counsel.

/payments

CFPB sues MoneyGram

MoneyGram is preparing to fight what it calls a "baseless" Consumer Financial Protection Bureau (CFPB) and New York Attorney General lawsuit accusing the money transfer giant of "leaving families high and dry".

/crypto

Commerzbank applies for crypto custody licence

Germany's Commerzbank is seeking to enter the crypto-assets market after a spokesperson revealed the bank has applied for a local crypto licence.

/regulation

FCA secures £2m account forfeiture order against fintech QPay

Following court proceedings brought by the Financial Conduct Authority, fintech QPay Europe has consented to a court order to give up £2 million held in its name.

/crypto

EU lawmakers back tougher crypto AML rules

European Parliament members have voted to outlaw anonymous cryptocurrency transactions as part of an EU anti-money laundering package.

/predictions

Amex files metaverse-related trademark applications

American Express has filed trademark applications to register its name, logo, and slogans for a range of banking services in the metaverse.

/people

Prosecutors charge former Wirecard CEO

German prosecutors have charged former Wirecard chief executive Markus Braun in relation to the collapse of the payments firm last year.

/payments

Mastercard class action suit moves closer to trial as billions more pounds added to claim

A £14 billion class action lawsuit against Mastercard interchange fees has moved a step closer to trial with an additional £2.7 billion added to the claim following the latest judgement by the UK's Competition Appeal Tribunal.

/crypto

FCA is investigating 50 crypto firms

The Financial Conduct Authority opened over 300 cases related to crypto firms in a six-month period last year and has 50 live investigations, including criminal probes, into companies in the sector.

/retail

Meta and Chime sue alleged phishing scammers

Meta and digital banking giant Chime have filed a first-of-its-kind joint lawsuit against two Nigerian-based individuals they say have been using Facebook and Instagram for phishing attacks designed to get access to victims' financial accounts.