Compliance

The inquiry into Venmo's debt collection practices is a taste of what PayPal can expect as it expands to other categories that increasingly face regulatory pressure.

The inquiry into Venmo's debt collection practices is a taste of what PayPal can expect as it expands to other categories that increasingly face regulatory pressure.

Ant Group and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.

Senate Majority Leader Chuck Schumer is calling for federal legalization of cannabis. This should be welcome news to niche payment processors already in the business, but it would also reward big players waiting on the sidelines.

A growing number of states have chosen to decriminalize or legalize cannabis in recent years. As a result, the legal cannabis industry has experienced exponential growth. Yet banks and other financial institutions are still largely reluctant to partner with cannabis firms due to the lingering conflict between state and federal law. In this episode we will explore: (1) how financial institutions can navigate the regulatory, compliance, and operational challenges facing this sector; and (2) the steps the Biden Administration may take to improve the environment for banking this industry.

illionaire Jack Ma’s Ant Group delivered about $2.3 billion in profit in the quarter right before Chinese regulators brought down the hammer on the financial technology giant’s record public offering and ordered it to scale back its sprawling business.

Call centers have long had issues around the security of accepting card payments verbally; companies like Semafone and DataDivider are working to keep those centers PCI-compliant as the pandemic compounds the problem.

Ireland is one of the few European countries without a domestic real-time bank transfer scheme, and the fintechs are rushing to fill that gap.

Emerging consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

City National Bank is working with the fintech startup Extend to further boost contactless payments at the point of sale for business employees through the launch of a virtual Visa commercial credit card.