Paytm CEO Vijay Shekhar Sharma said investors in his firm do not have access to customer data, in a bid to ease concerns over reports of user information being leaked to Chinese firms, Reuters reported Tuesday (March 15). The India-based digital payment company, backed by...
Paytm Payment Bank is being audited by the Reserve Bank of India (RBI) over allegations that it engaged in data sharing with organizations based in China and also failed to have adequate know-your-customer documentation, Bloomberg reported on Monday (March 14), citing an unnamed source. The...
On Tuesday, the Federal Reserve published an updated proposal for its guidelines to evaluate requests for accounts and services at Federal Reserve Banks. The new proposal, which adds a new chapter to the original guidelines published in May 2021, creates a tiered system based on...
London banking giant HSBC is being investigated by the U.S. Commodity Futures Trading Commission (CFTC) for bankers’ alleged use of “non-HSBC approved messaging platforms for business communications,” according to its annual report published alongside earnings on Tuesday (Feb. 22). The probe by CFTC is likely...
Credit Suisse has been scrambling to cut down on fallout after newspapers reported on over 18,000 leaked accounts connected to criminals, reported human rights abusers and sanctioned people, like dictators, CNBC writes. The leaked information reveals that the accounts held over $100 billion, and came...
Digital payment and credit platform Aliaswire on Tuesday (Feb. 8) added a new bank account validation (BAV) solution for banks and their commercial clients, which comes ahead of a new rule requiring ACH originators to make account validation part of their fraud detection. The regulation...
A new economic forecast says U.S. banks will see more growth from the “bread and butter” business of taking deposits and lending money, Reuters writes. The U.S. economy is likely to keep expanding, and the Federal Reserve has said it’s ready to raise interest rates...
Fidelity Investments has launched a business called Saifr, a regulatory technology (RegTech) service that helps financial institutions create, review and approve public communications to mitigate brand, reputational and regulatory risk. “Utilizing a set of proprietary Natural Language Processing (NLP) models trained on tens of millions...
Wells Fargo has had a 2015 regulatory order from the Office of the Comptroller of the Currency (OCC) eliminated, which involved add-on products which Wells Fargo sold improperly, Bloomberg reported Thursday (Jan. 20). This, according to the report, shows the progress of CEO Charlie Scharf’s...
