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Capital One fined $390 million for anti-money laundering failures
Capital One has picked up a $390 million penalty from the Financial Crimes Enforcement Network (FinCEN) for engaging in both “wilful and negligent violations of the Bank Secrecy Act (BSA)... more
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Banking regulation needs a reset to remove Big Tech’s advantages
As the new year begins, and we try to rebuild our economies, we need to rethink the way we regulate finance. That is because the challenges posed by the COVID-19... more
The post Banking regulation needs a reset to remove Big Tech’s advantages appeared first on Payments Cards & Mobile.
Bitcoin free wheeling days on the road direct it to further regulatory scrutiny
After a sensation 2020 and a manic January 2021, regulators have finally had enough and are sharpening their focus on bitcoin and its use in the international financial system. It... more
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Revolut sets its sights on UK banking license
Revolut has applied to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), the UK regulators, for a full banking license to fuel expansion beyond its FinTech roots.... more
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PayPal wins prepaid and digital wallet case against U.S. CFPB
A federal judge has invalidated part of a U.S. Consumer Financial Protection Bureau rule governing prepaid cards and digital wallets, emphatically agreeing with PayPal that the agency overstepped its authority.... more
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