The Federal Trade Commission (FTC) reportedly unveiled details of a lawsuit against Amazon Thursday (Nov. 2), accusing the eCommerce giant of employing strategies to enhance its profits. The FTC alleges that Amazon used a secret algorithm, internally known as “Project Nessie,” to raise prices for specific products, resulting...
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has reportedly expressed concerns about the potential risks posed by payment systems that enable excessive surveillance and financial censorship. In a Friday (Oct. 6) speech at the Brookings Institution, Chopra emphasized the need for stronger protections against the...
Regulators worldwide are bearing down on BNPL providers over concerns about overspending, debt accumulation, and privacy invasion. Omri Flicker, chief legal and risk officer at Splitit, says those who already play by existing rules aren’t losing any sleep.
November 07, 2023
In a move to ensure consumer protection and regulatory oversight, the Consumer Financial Protection Bureau (CFPB) is proposing to supervise larger nonbank companies that offer services like digital wallets and payment apps. This proposal announced Tuesday (Nov. 7) comes as digital payment apps and wallets, driven largely by Big Tech and other large technology firms, […]
November 02, 2023
The Federal Trade Commission (FTC) reportedly unveiled details of a lawsuit against Amazon Thursday (Nov. 2), accusing the eCommerce giant of employing strategies to enhance its profits. The FTC alleges that Amazon used...
October 06, 2023
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), has reportedly expressed concerns about the potential risks posed by payment systems that enable excessive surveillance and financial censorship. In a Friday...
