January 2025 – Page 100

US Justice Department Files Lawsuit Against Visa for Debit Card Market Monopoly

The US Justice Department has filed a lawsuit against Visa, accusing the payments giant of unlawfully monopolizing the debit network markets. The civil antitrust lawsuit...

Federal Reserve Announces Plans to Reduce Debit Card Fees

The Federal Reserve has proposed a significant reduction in the debit interchange fees that banks can charge merchants, suggesting a nearly 30% decrease and a...

Fintech Twig, Focused on Circular Economy, Closes Its Doors

Twig, a London-based fintech focused on the circular economy, is shutting down due to unsuccessful funding efforts. As reported by UKTN, Twig has entered creditors'...

NatWest Acknowledges Shortcomings in Farage Controversy; FCA to Reassess the Situation

The UK’s Financial Conduct Authority (FCA) has identified potential regulatory breaches in NatWest's decision to close the accounts of former Brexit Party leader Nigel Farage...

Elon Musk Aims for X to Become Users’ Go-To Banking Solution Within a Year

Elon Musk aims to transition X (formerly Twitter) into a platform that manages users' "entire financial life," suggesting that by the end of next year,...

Thai Bank Acquires Stake in Cryptocurrency Exchange

Thailand's second-largest bank, Kasikorn Bank (K-Bank), has acquired a 97% stake in the Satang crypto exchange for $102 million, which will now be rebranded as...

Klarna and Xero Introduce BNPL Solutions for Small Businesses

Klarna has partnered with accountancy software provider Xero to enable small businesses to accept buy now, pay later (BNPL) payments. For Xero’s millions of customers...

Survey Shows Companies’ Concerns About Data Quality

Recent research indicates that as many as three-quarters of corporate, trust, and fund services firms lack confidence in their own data. According to the Future...

Global Regulators Establish Forum for Asset Tokenization Policy

Financial regulators from the UK, Singapore, Switzerland, and Japan are collaborating on a project to explore fund and asset tokenization use cases and decentralized finance....

MAS Prohibits DBS from Expanding Business Ventures and Closing Branches

The Monetary Authority of Singapore has prohibited DBS from pursuing new business ventures or reducing its branch and ATM network in an effort to improve...