New York’s financial regulator will get its day in court against the Office of the Comptroller of the Currency (OCC) over the federal authority’s plans to introduce a bank charter for fintechs,...
Less than one week after fining Standard Chartered $1.1bn over failures in its sanctions and anti-money laundering controls, U.S. authorities have hit another European bank, UniCredit, with an even...
Bittrex, one of the world’s largest cryptocurrency exchanges by volume, is crying out for “regulatory clarity” in the United States, the company’s chief strategy officer told a blockchain...
U.S. banks and payments providers eyeing state-legalized cannabis businesses must battle with both a lack of legal clarity at the federal level and difficulties carrying out due diligence on...
Banking giant Standard Chartered will pay a total of $1.1bn in fines to United States and UK authorities after allegations it failed to properly apply anti-money laundering (AML) and sanctions...
Are influential regulators, international standards-setters and financial sector participants doing enough to tackle de-risking? PaymentsCompliance speaks to J. Andrew Spindler, a former New York...
A plan by the U.S. Consumer Federal Protection Bureau (CFPB) to revamp its no-action letter program is the “boldest step yet” by federal regulators to establish a fintech sandbox that firms...
The fight against financial crime in the Americas reached an ever-higher pitch in 2018, with new and innovative methods of sanctions evasion sprouting as quickly as enforcement agencies could cut...
On December 4, 2018, the New York State Department of Financial Services (DFS) announced it had issued Signature Bank with authorization to offer a new digital payment platform, Signet. Prior to...
Banking giant Société Générale has been handed the U.S.’ second largest-ever fine for “willful violations” of international sanctions, devising systems to facilitate illicit fund transfers worth...
Despite New York's attorney general recently taking aim at the sector over allegations of consumer protection failures, virtual currency exchanges remain eager to do business in the state, which...
On October 1, 2018, the New York State Department of Financial Services (NYDFS) announced further steps towards the modernization of the state's regulation governing the financial services industry...
New York regulators have approved two companies to use virtual currency tokens pegged to the U.S. dollar as a means of exchange, with the aim of leapfrogging the development of faster payments in...
With the next phase of the New York State Department of Financial Services’ pioneering cybersecurity rules set to kick in next week, the impending deadline could be a date to watch even for...
Plans to regulate U.S. fintech firms at the federal level appear to be losing momentum, experts believe, despite the Office of the Comptroller of the Currency winning a second lawsuit opposing its...
Cryptocurrency businesses could be entering a landmark year for global regulatory standards, industry leaders believe — a welcome development for those hoping legal certainty will drive mainstream...

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