The Consumer Finance Protection Bureau's decision to delay, by one year, the implementation of new rules for prepaid cards was met with uncertainty by industry executives and attorneys concerned...
U.S. financial regulatory experts have appealed to lawmakers to create a federal money transmission license, warning that the current patchwork of state regimes has stunted the growth of the...
The U.S.’ fearsome consumer protection regulator has long divided opinion over its unapologetically tough approach to the payments industry, but the appointment of Mick Mulvaney as director —...
On January 25, 2018, the Consumer Financial Protection Bureau (CFPB) released the final version of its prepaid account rule, which was originally drafted in 2016, making changes based on feedback...
On January 24, 2018, the Commodity Futures Trading Commission (CFTC) announced the filing of an enforcement action before federal court against Randall Crater of East Hampton, New York; Mark...
As members of the Senate Banking, Housing and Urban Affairs Committee consider reforms to the nation’s anti-money laundering rules, Democratic Senator Mark Warner reiterated his concern about the...
The U.S. Congress began a series of hearings on Tuesday to consider ways to reform money laundering and illicit finance regulations, as a president of a payments company argued the current system...
Western Union has been hit with a $60m fine by New York state regulators, who accused the remittance behemoth of historic violations of anti-money laundering (AML) laws.
The Consumer Financial Protection Bureau (CFPB) has confirmed a delay in the effective date of its new regulatory framework for prepaid cards, a decision hailed as a victory for emerging payment...
Chinese payments giant Ant Financial has given up on its $1.2bn acquisition of remittance firm MoneyGram, having failed to win support from a US government agency.
The global payments industry has undergone a year characterised by conflict — between traditional financial institutions and emerging technologically savvy rivals, and between regulators,...
The Cybersecurity and Infrastructure Security Agency Act, which was passed by the U.S. House last week, is set to overhaul government cybersecurity measures after a period of unprecedented...
On December 4, 2017, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury announced the launch of the “FinCEN Exchange” program, which seeks to strengthen...
On November 21, 2017, the Committee on Financial Services of the U.S. House of Representatives published a memorandum addressed to its members to inform them of the hearing entitled “Legislative...
Freshly expanded sanctions against North Korea look set to drive de-risking by banks, as foreign entities now run the risk of losing access to the entire U.S. financial market.
Industry leaders convened on Capitol Hill last week to discuss the future of cybersecurity in the U.S. and reflect on lessons learned from the Equifax data breach earlier this year, with some...

Pages