Casper, a U.S.-based online mattress company that has the backing of 50 Cent, the rapper and entertainer, has found itself in trouble with U.K. regulators. According to a report in the Financial Times, the company had to stop offering credit to consumers in the U.K....
The Office of the Comptroller of the Currency is aiming to rewrite the 1977 Community Reinvestment Act, which is designed to encourage bank lending in low-income areas. Reuters, citing the OCC, reported the government agency is seeking public comment in what would be the first...
The open banking wave is starting to spread. One of the latest signs of that comes this month from Germany, where Hamburg-based Deposit Solutions, a company that launched in 2011 and sells open banking technology, recently announced it had raised $100 million in capital in...
Three months in, the European Union’s General Data Protection Regulation still stymies some firms seeking to comply with new rules and regulations governing data protection and privacy. Consider India, where EY estimates in a recent survey that in India, companies are finding it a challenge...
Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams is set to review policies being proposed by other Trump-appointed officials, including rules on bank capital, small-dollar loans and investments in low-income areas. According to The Wall Street Journal, McWilliams said during her first interview as chairman that...
Loosening federal regulations, enacting national data breach protections and drafting “model laws” at the state level to reduce overlapping red tape, could help promote FinTech in the United States, according to report released Tuesday (July 31) by the U.S. Treasury Department. The report arrives at...
The U.K. watchdog in charge of investor oversight proposed tough new regulations regarding peer-to-peer (P2P) lending platforms, in a bid to help consumers wade through the new landscape, according to a report by Reuters. The Financial Conduct Authority is looking to tighten up oversight over...
Watching. Waiting. Concerns about fraud. And an apparent boost for biometrics. The second Payment Services Directive — known as PSD2 — has come into effect in Europe, with a September 2019 deadline of payment service providers being able to adhere to regulatory technical standards regarding security...
Danske Bank is facing backlash from a money laundering scandal that has now resulted in it losing client Unity Technologies, a video game startup that is valued at $2.6 billion. According to a report in the Financial Times, David Helgason, the entrepreneur behind Unity Technologies, told the...
