Financial regulators in the United Kingdom issued long-expected rules governing “critical third parties.” The new regulations, expected to go into effect Jan. 1, will govern major tech companies that work with financial firms in the U.K., according to a Tuesday (Nov. 12) press release. “Financial...
H&R Block will pay $7 million and change some of its practices under a proposed settlement that would resolve a Federal Trade Commission (FTC) lawsuit alleging that the company made deceptive claims about “free” tax filing. The FTC filed an administrative lawsuit against H&R Block in February,...
The European Commission and the Consumer Protection Cooperation Network said Monday (Nov. 11) that Apple may face enforcement measures if it does not stop its geo-blocking practices on certain Apple Media services. The tech giant has one month to propose how it will address these...
The Federal Trade Commission (FTC) announced a new enforcement action against Sitejabber, charging the review platform with deceiving consumers through misrepresentative reviews and ratings. Sitejabber, which uses artificial intelligence (AI) to power its consumer review platform, artificially inflated average ratings and review counts, the FTC...
If the past few months have shown us anything it’s that the frictions between the regulators and the regulated — in this case, FinTechs — frequently are being played out in the courts. And in just the latest example, the Federal Trade Commission’s lawsuit against...
As Donald Trump retakes the reins of power, the uncertainty over who occupies the White House is over. Republicans are retaking the Senate, and the House is still up for grabs as of Wednesday morning (Nov. 6). There’s at least some uncertainty removed from the...
The name of online banking platform Dave suggests a dependable friend. But after fielding consumer complaints, a regulator says Dave’s cash advance app is not on the level. The Federal Trade Commission (FTC) is taking Delaware-based Dave Inc. to court, according to a Tuesday (Nov....
Tax season is officially over — even the Oct. 15 extension deadline has come and gone. But for banks and corporates, depending on the states in which they are doing business, another reporting season stretches into November, where they must review records for unclaimed funds...
The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB itself — say the rule promotes competition among incumbent banks, levels the playing field...
