September 28, 2024
THE Reserve Bank of India (RBI) would like to adopt a “hands-off” approach to regulating FinTech. At the same time, the central bank expects these companies to follow rules on customer verification and data protection, the RBI executive director said. P.Vasudevan said Friday, February 16, Bloomberg reported Friday. According to the report, “no tougher measures
September 27, 2024
Free newsletter Receive the latest Swiss Fintech news once a month in your inbox This summer, Switzerland saw significant progress in its fintech sector, including the launch of instant payments, progress in exploring central bank digital currencies (CBDCs), and regulatory updates. In this article, we provide an overview of these recent advances, focusing on fintech
September 25, 2024
By Najiyya Budaly (September 24, 2024, 1:06 PM BST) - Nasdaq and Deutsche Boerse said on Tuesday they were among financial services companies being investigated by the European Commission for alleged breaches of EU competition laws in derivatives trading…. Law360 is here, so you are too. A Law360 subscription puts you at the heart of
September 25, 2024
HSBC has backed calls for tech firms to help cover the cost of fraud, saying new compensation rules will not be enough to stop scams. The Payment Systems Regulator (PSR) is set to make reimbursement of up to £85,000 mandatory from 7 October, with most firms failing to sign up to or consistently apply a
September 25, 2024
The European Commission is carrying out surprise inspections at the premises of financial services companies in two Member States. The Commission is concerned that the inspected companies may have violated EU antitrust rules prohibiting restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the Agreement
September 25, 2024
By Gloria Methri September 23, 2024 Payments to businesses Cash flow FinTech A new fair payment code, new rules on business reporting and a major consultation have been unveiled as part of a package of measures to tackle late payments. The scourge of late payments costs SMEs £22,000 a year and causes 56 million hours
September 25, 2024
THE United States Department of Justice plans to allege that Visa Inc. illegally monopolized the U.S. debit card market, according to people familiar with the matter. The antitrust division is expected to file a lawsuit as early as Tuesday against the operator of the largest U.S. payment network for a range of anticompetitive behavior, said
September 25, 2024
European Commission conducts unannounced antitrust inspections in financial services sectorThis article is brought to you in collaboration with the European Commission. The European Commission conducts unannounced antitrust inspections….12 hours ago
September 24, 2024
The Federal Deposit Insurance Corporation (FDIC), a key U.S. banking regulator, has proposed new rules for Banks collaborate with fintech companies. The proposal aims to strengthen record-keeping requirements for accounts held by fintechs on behalf of their customers, a move that could have a significant impact on the growing Banking-as-a-Service (BaaS) sector. Under the new
September 24, 2024
NEW YORK (AP) — The U.S. Justice Department has filed an antitrust complaint against Visa, alleging that the financial services giant uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars. The complaint filed Tuesday claims that Visa penalizes merchants and banks that don't use
September 24, 2024
Unlock Editor's Digest for free FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. Years of regulatory action against German fintech N26 over its weak anti-money laundering controls may have cost the company billions of euros, co-founder Valentin Stalf told the Financial Times, as authorities finally remove a cap on its growth.
