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FCA finds not enough firms have disciplinary policies in place

/regulation

FCA finds not enough firms have disciplinary policies in place

The Financial Conduct Authority (FCA) found that the amount of workplace complaints have increased between 2021 and 2023, in its non-financial misconduct survey.

Western Union to buy Singapore mobile wallet Dash

/regulation

Western Union to buy Singapore mobile wallet Dash

Western Union has struck a deal to buy mobile wallet Dash from Singaporean telco Singtel. Financial terms were not disclosed.

Apple and Goldman Sachs fined $89 million by CFPB over Apple Card mismanagement

/regulation

Apple and Goldman Sachs fined $89 million by CFPB over Apple Card mismanagement

The Consumer Financial Protection Bureau has slapped an $89 million penalty on Apple and Goldman Sachs for illegally mishandling credit card transaction disputes and misleading iPhone purchasers about interest-free payment options.

AFP: FedNow vs. The Clearing House’s Real Time – where does Request for Payment fit in?

/regulation

AFP: FedNow vs. The Clearing House’s Real Time – where does Request for Payment fit in?

Taking to the stage on the penultimate day of the AFP conference in Nashville’s Music City Center, were Netflix’s Joshua Karoly, The Clearing House’s Cheryl Gurz, US Bank’s Mike Thomas in a panel led by Strategic Resource Management’s Dean Nolan.

CFPB faces lawsuit over new open banking rules in bank pushback

/regulation

CFPB faces lawsuit over new open banking rules in bank pushback

The Bank Policy Institute and Kentucky Bankers Association have filed a lawsuit against the Consumer Financial Protection Bureau, alleging that the regulatory agency overstepped its authority on the release of new open banking rules

FCA uses criminal powers in latest crackdown on 'finfluencers'

/regulation

FCA uses criminal powers in latest crackdown on 'finfluencers'

The FCA is interviewing 20 'finfluencers' under caution who may be touting products illegally, extending its crackdown on financial product promotions via social media personalities

Afin Bank secures licence to serve African diaspora in the UK

/regulation

Afin Bank secures licence to serve African diaspora in the UK

Afin Bank, a digital lender created to help people from Africa living and working in the UK, is set to start offering mortgages and savings products after securing the regulatory green light.

Sibos: Panel calls on regulators to define minimum level of fraud data sharing

/regulation

Sibos: Panel calls on regulators to define minimum level of fraud data sharing

Regulators must define a “minimum set of data” to be shared between banks that would still “serve the purpose” of fraud detection and prevention, said Michele Gentile, head of group correspondent banking, APAC, UniCredit, at Sibos today.

US moves to 'open banking' with Personal Financial Data Rights final rule

/regulation

US moves to 'open banking' with Personal Financial Data Rights final rule

Consumers in the US will be given the right to instruct their banks to transfer their financial data to other institutions, under new open banking rules devised by the Consumer Financial Protection Bureau.

E-ID firm Authologic raises $8.2 million Series A

/regulation

E-ID firm Authologic raises $8.2 million Series A

Polish identity verification vendor Authologic has closed on an $8.2 million Series A funding round.

AFP: Does the US need Faster Payments?

/regulation

AFP: Does the US need Faster Payments?

How much choice is too much choice? The second day of AFP in Nashville, Tennessee, saw BNY Mellon’s Sumner Francisco, Finzly’s Karuna Kathir, PTap Advisory’s Peter Tapling and Walmart’s Sarah Arnio, take to the stage to discuss the adoption and benefits of Faster Payments and the differences between rails such as instant payments, same-day ACH, and push-to-card transactions.

Central banks ponder the risks of tokenisation

/regulation

Central banks ponder the risks of tokenisation

Tokenisation of money has many benefits, but also poses economic, legal and technical challenges that must be addressed if it is to fulfil its potential, says the Bank for International Settlements.

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