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...
The Commodity Futures Trading Commission's first anti-fraud enforcement action involving Bitcoin has culminated with a federal court ordering the operators of a Ponzi scheme to pay $2.5m in...
On October 18, 2018, the U.S. Securities and Exchange Commission (SEC) announced the launch of its Strategic Hub for Innovation and Financial Technology (FinHub), which is to continue the work...
A U.S. Treasury official has said legal reforms aimed at helping money transfer firms affected by de-risking are highly unlikely, despite legislative efforts in Europe to tackle the issue.
Five federal agencies, including the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, will allow credit unions and community banks to share resources to improve compliance...
The U.S.’ fearsome federal tax authority plans to bring in hundreds of new special agents to help tackle the growing use of cryptocurrency in money laundering and tax crimes.
Authorities in the U.S. have proposed the construction of a new national faster payments system, but have admitted it could take years to be fully developed and risks fracturing the existing third...
Danske Bank is set to face criminal investigation in the United States, as the Department of Justice has formally requested information from the Danish bank in connection with the flow of illicit...
On October 3, 2018, the Federal Reserve launched a public consultation aimed at obtaining feedback on potential actions to be implemented to facilitate real-time interbank settlement of faster...
After nearly a year under temporary leadership, the U.S.’ top consumer watchdog for financial services appears set to gain a new permanent chief, following a June nomination from President Donald...
European authorities have announced that a new payment system will be established to “facilitate legitimate financial transactions with Iran”, after the US reinstated its sanctions programme...
U.S. financial watchdogs have quelled industry concerns that agencies use non-binding rules to fuel enforcement action, downplaying the legal weight of supervisory guidance they issue.
On September 13, 2018, the Monetary Authority of Singapore (MAS) and the US Commodity Futures Trading Commission (CFTC) strengthened their ties in the area of fintech by signing a agreement to...

Pages