December 2024 – Page 59

UK Government Seeks Public Input on New Regulations for Buy Now, Pay Later Services

The UK Government is moving forward with new regulations aimed at safeguarding online shoppers utilizing buy now, pay later (BNPL) products. The Government has initiated...

CFPB Sues Climb Credit for “False Promises and Deceptive Practices”

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Climb Credit and its largest shareholder, 1/0, for allegedly misrepresenting the quality of training...

Norway Becomes Part of Eurosystem’s Instant Payment Service

Norway has finalized a deal to incorporate the krone into the Eurosystem's Target Instant Payment Settlement (Tips) service. The integration of the Norwegian krone into...

Axiom Bank Faces Regulatory Enforcement Action

The Office of the Comptroller of the Currency (OCC) has initiated an enforcement action against Axiom Bank in Florida due to various compliance issues. These...

Why the US Fintech and Banking Sector is Reaching a Turning Point

Boston Fintech Week returned this week for its seventh installment, drawing industry experts and executives to a two-day conference at the Federal Reserve Bank of...

Global Payments in 2024: Streamlined Interfaces Amidst a Complex Landscape

Global payment revenues are projected to remain strong over the next five years, with the sector potentially unlocking an additional $700 billion by 2028, according...

Bank of England Chief Urges UK to ‘Rebuild Relations’ with EU

Bank of England Governor Andrew Bailey stated that the UK must “rebuild relations” with the EU while respecting the decision of the British people to...

MoneyGram Appoints New CEO After Data Breach Incident

Weeks after a significant cyberattack, MoneyGram has appointed Anthony Soohoo, a former Walmart executive, as its new CEO, replacing Alex Holmes. The MoneyGram board made...

Fintech Association Files Lawsuit Against CFPB Over BNPL Regulation

The Financial Technology Association (FTA) has initiated a lawsuit against the Consumer Financial Protection Bureau (CFPB) regarding its recently announced buy now, pay later (BNPL)...

PBoC Aims to Foster the Healthy Growth of Cross-Border Payments

“The People’s Bank of China (PBoC) will continue to promote the healthy development of cross-border payment under the principles of openness, cooperation, and mutual benefit,”...