PYMNTS-MonitorEdge-May-2024

legal

Common legal phrase. Lawful action, such as an agreement consciously agreed to by two or more entities, establishing lawful accountability. For example, an apartment lease legally binds the lessor and the lessee.

OpenAI, Microsoft Face Copyright Lawsuit by Mother Jones Publisher CIR
OpenAI, Microsoft Face Copyright Lawsuit by Mother Jones Publisher CIR
June 27, 2024  |  artificial intelligence

The Center for Investigative Reporting (CIR), the nonprofit news organization that produces Mother Jones and Reveal, has sued OpenAI and that firm’s largest shareholder, Microsoft....

READ MORE >
Record Labels Take AI Music Generators to Court, Raising Questions for eCommerce
Record Labels Take AI Music Generators to Court, Raising Questions for eCommerce
June 26, 2024  |  artificial intelligence

As the world’s largest record labels take aim at AI-generated music, the targeted companies are pushing back, setting the stage for a legal battle that...

READ MORE >
Following Court Orders, CFPB Extends Small Business Lending Rule Deadlines
Following Court Orders, CFPB Extends Small Business Lending Rule Deadlines
June 25, 2024  |  CFPB

The Consumer Financial Protection Bureau (CFPB) has extended the compliance dates for its small business lending rule pursuant to court orders. A federal court in Texas stayed...

READ MORE >
Rejected: Judge Nixes $30 Billion Swipe Fee Settlement
Rejected: Judge Nixes $30 Billion Swipe Fee Settlement
June 25, 2024  |  Legal

Nothing’s settled, it seems — except that the $30 billion so-called “swipe fee” settlement is, at least in this incarnation, seemingly dead and gone. And...

READ MORE >
Synapse Trustee McWilliams Details New Challenges in Latest Status Report
Synapse Trustee McWilliams Details New Challenges in Latest Status Report
June 24, 2024  |  Legal

It’s one step up and two steps back in the case of Synapse Financial’s bankruptcy, with the court-appointed trustee reporting progress Friday (June 21) in...

READ MORE >
FTC Lawsuits Resulted in $324 Million in Refunds in 2023
FTC Lawsuits Resulted in $324 Million in Refunds in 2023
June 21, 2024  |  Disbursements

Federal Trade Commission (FTC) lawsuits resulted in over $324 million in refunds to consumers in 2023. That total includes money returned to consumers as a...

READ MORE >
Report: Apple Aims to Settle EU Investigation Involving Contactless Payments
Report: Apple Aims to Settle EU Investigation Involving Contactless Payments
June 18, 2024  |  Apple

Apple has reportedly made concessions to end a European Union (EU) antitrust investigation into its mobile payments system. The tech giant will give its rivals more access...

READ MORE >
‘Aggrieved’ FTX Customers Seek $8 Billion in Forfeited Assets
‘Aggrieved’ FTX Customers Seek $8 Billion in Forfeited Assets
June 18, 2024  |  Cryptocurrency

A group of FTX customers say $8 billion of the company’s forfeited assets are rightfully theirs. As Coindesk reported Tuesday (June 17), these customers are seeking a...

READ MORE >
Making Sense of For Benefit Accounts (FBOs) and FinTech’s Future
Making Sense of For Benefit Accounts (FBOs) and FinTech’s Future
June 17, 2024  |  Legal

The recent Synapse bankruptcy represents one of the biggest implosions in the FinTech sector’s history. The ongoing mess at the banking-as-a-service (BaaS) platform has affected...

READ MORE >