Category: Regulations

Activity, Investment Banking, Regulations

Atlantic Money secures EU-wide payment institution approval

June 29, 2022

Via: FinTech Futures

The fintech intends to launch gradually across the EU, starting with Belgium this summer, followed by Germany and Austria. Atlantic Money has already started onboarding UK customers who signed up for early access when the business came out of stealth […]

News, Regulations

UK neobank Kroo gains full banking licence

June 28, 2022

Via: FinTech Futures

With the new licence now in hand, Kroo can offer depositors protection through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Founded in 2016, Kroo offers its 23,000 customers a current account with overdraft facilities along with socially […]


Cannabis banking nixed from competition bill

June 24, 2022

Via: Banking Dive

Despite passing in the House six times, most recently as part of the House version of the manufacturing bill, SAFE Banking has yet to see similar traction in the Senate. The legislation has garnered wide support from cannabis industry advocates […]


Bank of Israel Continues to Regulate Use of Cryptocurrencies

June 22, 2022

Via: JD Supra

Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an anti-money laundering order specifically addressing cryptocurrencies, which came into effect in […]


Deutsche Bank Investors Can Sue in U.S. Over Epstein, Russian Oligarch Ties

June 14, 2022

Via: Insurance Journal

A U.S. judge on Monday said shareholders can sue Deutsche Bank for allegedly hiding shortfalls in its internal controls while doing business with risky, ultra-rich clients like the sex offender Jeffrey Epstein and Russian oligarchs. U.S. District Judge Jed Rakoff […]


SEC investigates Goldman Sachs’ ESG mutual funds

June 13, 2022

Via: Banking Dive

SEC rules defining ESG investing and its requirements are not final, so the regulator, for now, is looking to see how ESG fund investment in practice lines up with companies’ promises to shareholders. Goldman manages at least four funds that […]


Custodia Bank sues Fed over ‘unlawful delay’ in processing master account application

June 8, 2022

Via: Banking Dive

Custodia claims the delay in processing its master account application is resulting in substantial, ongoing injury to the bank. “The immediate injury is that the delay has forced Custodia to defer its solo entry into the financial services market in […]

Capital and Risk, Operational, Regulations

NY Department of Financial Services Releases Guidance for Use of Blockchain Analytics by Virtual Currency Entities

June 6, 2022

Via: JD Supra

The New York State Department of Financial Services (NYDFS) recently issued guidance on the use of blockchain analytics for all virtual currency businesses that either have a BitLicense or are chartered as limited purpose trust companies under the New York […]

Capital and Risk, Credit, Regulations

CFPB Probes ‘Suppressed’ Credit Card Payment Reporting

June 1, 2022

Via: JD Supra

On May 25, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post, examining what it describes as the “practice of suppressing payment data.” Per the blog post, the CFPB alleges that its research conducted in 2020 “uncovered […]


Police raid Deutsche Bank, DWS over reports of greenwashing

May 31, 2022

Via: Banking Dive

Tuesday’s raid follows a probe the Securities and Exchange Commission (SEC) launched in August into allegations of greenwashing by DWS, The Wall Street Journal reported. That investigation came shortly after Fixler went public with allegations the asset manager misled investors […]