New Jersey Attorney General Gurbir Grewal has demanded information on last month’s Department of Justice shock decision to reverse a 2011 opinion on the application of the federal Wire Act to...
On January 23, 2019, a draft bill (SF 0125) on digital assets was introduced to the Wyoming Senate. The bill aims to classify digital assets as property within existing laws, establish an opt-in...
On February 2, 2019, the Board of Governors of the Federal Reserve System (Fed) published notices 84 FR 1731  and 84 FR 1732....
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...
A new U.S. Department of Justice opinion on the Wire Act adds “a lot more confusion” for online gambling dealmakers and European companies eager to expand into the U.S. market, experts have said.
Payment providers serving the U.S. online gambling market face legal uncertainty after a decision by the Department of Justice to reverse a 2011 opinion on the application of the federal Wire Act.
On January 8, 2019, a draft bill, HB0057, on establishing a financial technology sandbox was introduced to the Wyoming legislature. The draft bill aims to create a financial technology sandbox for...
A San Antonio-based bank has been hit with $15.5m in penalties after U.S. authorities found it violated rules in refusing to cancel customers’ pre-authorized payments when requested, as well as re...
The Consumer Financial Protection Bureau is falling short when it comes to properly prioritizing consumer risks and needs to improve efforts to share and act effectively on data it collects, a...
On December 20, 2018, the U.S. Payments Forum, a cross-industry body focused on addressing issues that require broad cooperation and coordination across many participants in the payments industry,...
Smaller U.S. financial firms are concerned that an incoming federal faster payments system could end up dominated by major banks, urging the Federal Reserve to keep a close eye on its development.
Defendants accused of helping telemarketing scammers launder millions of dollars through fraudulent merchant accounts have reached a settlement agreement with the U.S. Federal Trade Commission (FTC).
Federal U.S. regulators are encouraging depository institutions to come up with new approaches to combat money laundering and other illegal financial activity — and the agencies say they are eager...
On December 3, 2018, the Financial Crimes Enforcement Network (FinCEN) released a statement, jointly drafted with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance...
As a growing number of U.S. states move to legalize sports betting after the Supreme Court's landmark PASPA ruling, payment processors are not waiting any longer to get into the game.
In a Senate hearing on Thursday, federal officials doubled down on their calls to maintain current reporting thresholds for cash transactions, saying raising the limits would hamstring their...

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