Tag: Regulation
FCA lifts partner onboarding restrictions on UK fintech Modulr
Key Points:
Lifted Restrictions:
The FCA has lifted the temporary partner onboarding restrictions imposed on Modulr last October.
Original Order:
Modulr was ordered to...
CFPB proposes new rule to include payday advances under Truth in Lending Act
Key Points:
Proposed Rule:
Payday loan advances would be brought under the same scope as consumer loans.
Fees associated with accessing earned wages early...
US Federal Reserve fines digital bank Green Dot $44 million over “unfair and deceptive practices”
Key Points:
Reason for Fine:
Unfair and Deceptive Practices: Violations in marketing, selling, and servicing of prepaid debit card products.
Deficient Consumer Compliance Risk...
FCA announces “biggest changes” to the UK’s listing regime “in over three decades”
Summary of FCA Overhauling the UK's Listing Rules
Objective: To support a wider range of companies issuing shares on a UK exchange and increase...
US regulators fine Citigroup $136m for “insufficient progress” towards compliance with 2020 consent order
Fines Imposed:
The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board fined Citigroup a combined $135.6 million.
OCC...
ECB publishes progress update on digital euro preparation phase
ECB Digital Euro Progress Report: Key Points
Preparation Phase Progress:
The ECB's digital euro preparation phase has been underway since November, with good progress...