January 2025 – Page 120

Canada Halts Development of Retail CBDC

After years of research, the Bank of Canada has announced that it is "scaling down" its efforts regarding a retail central bank digital currency (CBDC)....

Another One Bites the Dust: Kikapay Folds

Kikapay, a pioneering startup in the UK’s open banking landscape, has become another fintech casualty amid shifting economic conditions. Founded in 2018, Kikapay leveraged open...

CFPB Boosts Open Banking in the U.S. with New Data Regulation

The Consumer Financial Protection Bureau (CFPB) has unveiled its long-anticipated open banking rule, aimed at enhancing competition within the U.S. banking and payments sectors. The...

TSB to Close Branches and Reduce Workforce as Part of Cost-Saving Initiative

In response to a news report by Sky, TSB has commented on Sabadell CEO Cesar Gonzalez-Bueno's remarks regarding a £29 million provision for restructuring within...

MAS Directs DBS and Citibank to Probe Extended Service Disruption

The Monetary Authority of Singapore has instructed DBS and Citibank to investigate the lengthy downtime experienced after a recent outage that disrupted online and payment...

FCA Discovers Companies Attempting to Bypass Regulations on Crypto Promotions

The Financial Conduct Authority (FCA) is actively targeting crypto firms that attempt to evade new regulations on financial promotions by using illegible warning notices. Since...

Study Reveals Market Data Vendors Are Overcharging Users with Significant Price Hikes

A recent study conducted by Substantive Research reveals that market data prices are escalating at unprecedented rates, even as the Financial Conduct Authority (FCA) continues...

Mastercard Brings GenAI to the Dark Web

Mastercard is leveraging generative AI to significantly enhance the speed of detecting potentially compromised cards. The company's advanced fraud protection technology can now better predict...

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...