Regulatory

Static Authentication Stands in the Way of Contactless Progress

When it comes to new payment technologies, it’s often difficult to know what consumers are thinking, and banks have a lot on their plates. Aligning a transformation strategy with the desires of consumers is an interesting chart to plot. One thing that’s clear is both banks and consumers have embraced contactless.

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Wake Up, US Federal Reserve! China Just Showed How Digital Currency Is Done

Recently, China’s central bank — People’s Bank of China (PBOC) — surprised the business and crypto world with its plan to launch a central bank-backed digital currency (CBDC). The news came after the announcement of Facebook’s Libra, creating a perception that China is playing catch-up.

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Uber Has Surveyed Some Drivers on Small Loans, Suggesting Financial Products Are Coming

Back in June Uber went on a hiring spree in New York, hiring at least 100 fintech-oriented tech workers to ostensibly look at creating products to increase loyalty and engagement among users and drivers, including things like banking. Cue a flurry of speculation.

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Venmo Privacy Settings Pose Risk to Users, Watchdogs Say

People who use Venmo to make payments are vulnerable to stalking, snooping, or hacking, due to the company’s default privacy settings, browser developer Mozilla and the digital rights group Electronic Frontier Foundation said Wednesday.

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Capital One Cryptojacking Suspect Indicted

Paige Thompson – a 33-year-old woman from Seattle and former software engineer who allegedly turned cyber mega-attacker – has been indicted for the huge Capital One data breach discovered last month.

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Libra Association’s Crypto Members Remain Unfazed by Regulatory Backlash

Since first being announced in June, Facebook’s proposed Libra cryptocurrency has drawn the ire of lawmakers and regulators worldwide. But, according to sources close the Libra Association, that was to be expected. “We always knew this was something that was going to be hard,” one such source told CoinDesk.

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When It Comes to Compliance, Will Regtech Do What Congress Won’t?

This story is the latest installment in Credit Union Journal’s ongoing special report on fintech, which will run throughout the month of August. Legislative gridlock could spur technology firms to help financial institutions overcome the regulatory burden.

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Senate Holds Hearing on Digital Currencies, Blockchain

A decade after Bitcoin and blockchain made their debut, the US Senate has finally gotten around to holding a hearing on potential regulatory frameworks for digital currencies.

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Monzo PIN Breach – A GDPR Fine in the Making?

Rob is a Verdict staff writer. You can reach him at Monzo has told some 500,000 of its customers to change their personal identification number (PIN) after the challenger bank incorrectly stored them in its own internal systems. The digital bank said that it had inadvertently copied around a fifth of UK customers’ PINs to […]

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Banks Embracing Fintechs to Comply With Regulatory Needs

Most financial regulations address traditional banking, but as the world depends heavily on digital alternatives, banks also have to apply regulatory standards to their digital banking procedures. FERMONT, CA: The financial services industry is shaking up in large respects by financial technology.

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Banks Embracing Fintechs to Comply With Regulatory Needs

Most financial regulations address traditional banking, but as the world depends heavily on digital alternatives, banks also have to apply regulatory standards to their digital banking procedures. FERMONT, CA: The financial services industry is shaking up in large respects by financial technology.

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Amex Fires 10 in Forex Pricing Case; Santander Will Fight Orcel

Receiving Wide Coverage … Wall Street connections Deutsche Bank “played a key role in Jeffrey Epstein’s financial dealings in recent years, helping the accused sex-trafficker move millions of dollars in cash and securities through dozens of private-banking accounts with the German bank,” the Wall Street Journal reports.

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