The Federal Trade Commission (FTC) is sending over $140,000 in refunds to consumers after taking action against companies that it alleged made false claims that their products were “Made in USA” or “Hand Crafted in USA.” The agency took this action against Chaucer Accessories, Bates...
Acting Comptroller of the Currency Michael J. Hsu said he supports “federal payments regulation and a chartering regime for nonbanks.” In a written statement on the state of the federal banking system prepared for his Wednesday (Nov. 20) testimony before the House Financial Services Committee,...
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment period now runs through Jan. 16, the FDIC said in a Monday (Nov. 18) press...
There’s an upcoming deadline for companies in the United States. Many firms and corporations created or registered to do business in the U.S. must comply with new regulations Jan. 1 implemented by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) under the...
The Federal Trade Commission (FTC) is reportedly set to investigate allegedly anti-competitive practices at Microsoft’s cloud computing business. The regulator will focus on allegations that the tech giant illegally uses the market power of its Office 365 productivity software to benefit its Azure cloud service,...
European regulators say Booking.com must comply with the Digital Markets Act (DMA). The European Commission (EC) announced Wednesday (Nov. 13) that Booking Holdings — the travel website’s parent — had been designated as a “gatekeeper” under the DMA and must make sure the company adheres to...
The Consumer Financial Protection Bureau reportedly aims to place Google under formal federal supervision. The Washington Post reported Thursday (Nov. 14) and said in a post on social platform X that the move “could subject the technology giant to the regular inspections and other rigorous...
Banking regulators say a change in presidential administrations won’t change their approach to financial crime. While Donald Trump may be focused on deregulation, banking industry experts at a conference in New York this week say financial crime will remain a bipartisan focus, Reuters reported Wednesday (Nov. 13)....
The U.K.’s financial watchdog is giving auto financing companies more time to deal with customer complaints. The Financial Conduct Authority (FCA) announced this decision Wednesday (Nov. 13) in the wake of a recent court ruling that forbids dealers from getting a commission from auto lenders without the customer’s consent....
