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Category: Regulations


Regulations

Settlement in Amazon-Visa dispute may be near

January 18, 2022

Via: Payments Dive

Amazon backed off a threat to stop accepting Visa credit cards that originate in the U.K., easing tensions that had mounted last year as the e-commerce giant protested the card network’s fees around the world. Based on statements from Amazon […]


Regulations

Bank Fraud Involving PPP Loans Could Lead to Prison Time, Even for Relatively Small Advances

January 13, 2022

Via: JD Supra

The U.S. Department of Justice has recently begun charging defendants with bank fraud in relation to Paycheck Protection Program loans as part of its continuing efforts to investigate and prosecute individuals for crimes associated with COVID-19 related aid. If the […]


News, Regulations

Year One of Biden’s Impact on Banks

January 12, 2022

Via: Bank Director

Last year, we summarized our thoughts on the impact that Joe Biden’s presidency might have on the banking industry. Nearly a year into the administration, below is an updated overview of the emerging trends and expectations for the new year. […]


Regulations

Does CFPB rebuke of credit bureaus portend tougher rules?

January 6, 2022

Via: American Banker

The Consumer Financial Protection Bureau slammed the nation’s credit reporting bureaus over their handling of complaints in a report that could serve as a precursor to stricter oversight of the industry. The CFPB said that Equifax, Experian and TransUnion often […]


Capital and Risk, Insurance, Regulations

2022 Means More Claims Data From Florida Insurers, Notification on Surplus Lines

January 3, 2022

Via: Insurance Journal

New Florida laws and regulations that govern insurance matters took effect Sunday. Some are minor changes to existing laws, but others could affect insurers and agents for years to come. Here’s a look at some of the new requirements. Data […]


Regulations

Deutsche Bank fined $9.8 million by BaFin for control lapses

December 29, 2021

Via: American Banker

Germany’s finance watchdog fined Deutsche Bank 8.66 million euros ($9.8 million) over its handling of submissions for Euribor, a reference rate at the heart of a scandal that rocked the industry. The lender temporarily didn’t have effective systems and controls […]


Regulations

FCA fines HSBC £64m for failings in its AML processes

December 21, 2021

Via: FinTech Futures

The FCA claims HSBC’s transaction monitoring systems showed “serious weaknesses” over a period of eight years from March 2010 to March 2018. The regulator says HSBC did not dispute its findings and agreed to settle “at the earliest possible opportunity”. […]


Regulations

Regulators Warn of Climate Change, Stablecoins as Systemic Financial Risks

December 21, 2021

Via: Insurance Journal

Climate change, the rapid growth of “stablecoins” and financial innovations that led to frenzied trading of GameStop Corp shares early this year are threats to the U.S. financial system that merit closer scrutiny, a Treasury Department-led regulatory panel said on […]


Capital and Risk, Insurance, Regulations

Nevada Jury Says Health Insurers Owe ER Doctors $60M in Damages

December 9, 2021

Via: Insurance Journal

One of the largest U.S. health insurance companies and its branches in Nevada were found liable for $60 million in punitive damages for underpaying out-of-network emergency medical providers. A state court jury said three plaintiffs headed by urgent care staffing […]


Capital and Risk, Insurance, Regulations

Biden’s Proposed Inflation Cap on Drug Prices Includes Privately Insurance Plans

November 22, 2021

Via: Insurance Journal

Workers and families with private health insurance would reap savings on prescription drugs from a little-noticed provision in President Joe Biden’s sweeping social agenda bill. It’s meant to break the cycle of annual price increases for widely used medicines. That […]