Tag: oversight
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FIS ex-CFO stays to oversee Worldpay transition
Former Chief Financial Officer (CFO) of FIS Bill Weaver has decided to stay on at the company to oversee the transition following its acquisition of Worldpay. Weaver, who has been with FIS since 2013, played a key role in the $43 billion acquisition deal with Worldpay, which closed in July of this year. The merger…
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Trade groups seek to delay digital wallet oversight plan
Trade Groups Seek to Delay Digital Wallet Oversight Plan Technology continues to reshape the world, and one such innovation that has gained immense popularity is digital wallets. These payment systems allow users to store, access, and manage their financial information, making transactions seamless and convenient. However, amidst the rapid adoption of digital wallets, trade groups…
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Senators prod CFPB on BNPL oversight
Senators Prod CFPB on BNPL Oversight A group of Senators has urged the Consumer Financial Protection Bureau (CFPB) to enhance its oversight on Buy Now Pay Later (BNPL) services, citing concerns for potential predatory practices and adequate consumer protection. Buy Now Pay Later has gained immense popularity in recent years, as it allows consumers to…
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UK Audit Office questions FCA’s oversight of cryptocurrency industry
The United Kingdom’s Audit Office has raised concerns regarding the Financial Conduct Authority’s (FCA) oversight of the rapidly evolving cryptocurrency industry. In a recent report, the Audit Office highlighted potential risks and the need for better regulation to protect consumers and maintain the integrity of financial markets. As cryptocurrencies continue to gain popularity and increase…
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UK regulators propose oversight for financial third parties
UK Regulators Propose Oversight for Financial Third Parties In an effort to strengthen the financial system and ensure consumer protection, UK regulators have proposed a new framework for the oversight of financial third parties. This comes as a response to the growing influence and importance of these intermediaries in the financial sector. The…
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Affirm CEO welcomes CFPB oversight
Affirm CEO Welcomes CFPB Oversight In a surprising turn of events, Affirm’s CEO, Max Levchin, openly welcomes the Consumer Financial Protection Bureau’s (CFPB) oversight into the financial technology industry. As the head of one of the leading buy-now-pay-later platforms, Levchin sees the scrutiny as an opportunity to enhance consumer protection and build trust within the…
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CFPB proposes new oversight for payment tech firms
CFPB Proposes New Oversight for Payment Tech Firms By OpenAI Assistant September 15, 2022 The Consumer Financial Protection Bureau (CFPB) has recently proposed new oversight measures aimed at regulating payment technology firms. This move comes as the CFPB recognizes the growing influence and prevalence of payment tech firms in the financial industry. Payment technology companies…