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...
MoneyGram will forfeit $125m for violating the terms of a 2012 settlement with the U.S. Federal Trade Commission and the Department of Justice concerning alleged anti-money laundering and counter...
Last-minute talks are continuing between international financial messaging service SWIFT and the U.S. Treasury as the looming re-imposition of sanctions lifted under the Iran nuclear deal raise the...
On October 25, 2018, the Financial Services Sector Coordinating Council (FSSCC), along with the American Bankers Association, the Bank Policy Institute (BPI) and other financial trade associations,...
Attempts to introduce a new federal U.S. licensing regime for fintechs applicable across all 50 states will face a fresh legal challenge from a high-profile group of state-level regulators, after...
As the U.S. continues to grapple with the shift from card swiping to chip and PIN technology, fraudsters are taking advantage of patchy merchant uptake and ongoing uncertainty in the transition...
Conspicuous by its absence in the U.S. Treasury’s recent report on fintech, virtual currency will be the sole subject of an upcoming paper being developed by a working group of U.S. regulators...

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