CFPB Approves FDX as First Standard Setter for Open Banking
The Consumer Financial Protection Bureau (CFPB) has approved Financial Data Exchange (FDX) as the first official standard-setting body under its new open banking framework.
DoJ Finalizes Rule to Restrict Personal Data Transfers to Countries of Concern
The U.S. Department of Justice (DoJ) has implemented a final rule enforcing Executive Order 14117, aimed at curbing the mass transfer of Americans’ personal data to countries of concern, including China, Cuba, Iran, North Korea, Russia, and Venezuela.
FCA Advances Plans for a Regulated Crypto Market
The UK's Financial Conduct Authority (FCA) has outlined its latest steps to enhance the integrity of the country’s crypto market through a new Discussion Paper focusing on admissions, disclosures, and market abuse prevention.
Klarna Fined $50 Million for AML Compliance Failures
Sweden's Financial Supervisory Authority (FI) has imposed a $50 million fine on Klarna for deficiencies in its anti-money laundering (AML) compliance.
Assessing the Impact of Financial Data Access Regulation
As the European Council moves forward with the Financial Data Access (FIDA) legislation, which seeks to enhance open finance by enabling financial institutions to share customer data, industry stakeholders are urging caution.
Mastercard Settles Landmark UK Consumer Lawsuit
Mastercard has reached a settlement in a groundbreaking lawsuit initiated by consumer advocate Walter Merricks on behalf of approximately 46 million UK adults.
EU Financial Data Access Regulation Sparks Calls for Caution
As Europe advances toward enhanced open finance with the proposed Financial Data Access (FIDA) legislation, concerns are mounting among financial industry stakeholders.
Regnology acquires Vermeg's RegTech division
Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG‘s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio.
