Visa and Mastercard are under investigation by federal U.S. antitrust regulators for potential violations of laws giving retailers choice over debit network routing.
On August 23, 2019, the Australian Competition & Consumer Commission (ACCC) launched testing in which firms are able to express their interest in becoming accredited data recipients under the...
On September 18, 2019, the Treasury Laws Amendment (2019 Measures No. 2) Bill 2019 was introduced and read for the first time in the House of Representatives. ...
On August 15, 2018, the Treasury of the Australian government launched a public consultation on the draft Treasury Laws Amendment (Consumer Data Right) Act 2018, which aims to establish a new...
On September 5, 2019, the Australian Competition and Consumer Commission (ACCC) released a draft report on customer loyalty schemes for public comment.
On March 29, 2019, the Australian Competition and Consumer Commission (ACCC) released a consultation paper seeking feedback on its approach and positions of its draft Competition and Consumer ...
Australia’s central bank has again told off banks and acquirers for failing to comprehensively roll out least-cost transaction routing for contactless debit transactions, as industry groups claim...
Legislation to launch open banking in Australia has passed parliament after months of delays, but is likely to face imminent changes to allow consumers to “delete” data held by firms.
The Australian government has said it will re-introduce legislation this week to enable open banking to begin on schedule in February 2020, but its reception from opposition parties remains...
Australia’s financial intelligence unit has ordered the doyen of the country’s payments industry to hire an external auditor to comb through its entire anti-money laundering (AML) compliance...
Australia’s top consumer protection regulator has issued a warning over the fraudulent use of prepaid gift cards, cryptocurrencies and money remittance firms, after losses soared to almost half a...
The Australian competition regulator has issued draft rules for financial data portability under the proposed Consumer Data Right — the foundational legislation for bringing open banking to the...
The beginning of open banking in Australia could hit another snag after the opposition Labor Party flagged its intention to propose amendments to a bill establishing a Consumer Data Right.
Fintechs in Australia hope the country’s central bank will make sweeping changes to a new instant payments system that they view as expensive and dominated by an “exclusive club” of incumbent...
Voluntary industry codes could gain greater legislative weight in Australia, as the government there is consulting on proposals to give regulators powers to prescribe those standards and enforce...
Payments bodies in New Zealand and Australia are examining ways to adopt common standards in open banking regimes shaping both jurisdictions, as ambition for closer international cooperation ...

Pages