Tag: regulations
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CFPB imposes $8 credit card late fee rate
CFPB Imposes $8 Credit Card Late Fee Rate The Consumer Financial Protection Bureau (CFPB) has announced a new rule that will limit the amount credit card companies can charge for late fees. Under the new regulation, credit card companies will not be allowed to charge more than $8 for a late fee. This move comes…
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Thailand to consider applications for virtual banks
Thailand to Consider Applications for Virtual Banks In a move to modernize and enhance the country’s financial services sector, Thailand has announced that it will start accepting applications for virtual banks. This decision comes as part of Thailand’s efforts to promote financial inclusion and innovation in the banking industry. Virtual banks, also known as digital…
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CFPB puts credit card comparison sites on notice
The Consumer Financial Protection Bureau (CFPB) has issued a warning to credit card comparison sites, urging them to improve transparency and accuracy in their listings. Many consumers rely on these sites to find the best credit card offers, but the CFPB has raised concerns about the potential for misinformation and hidden fees. In a recent…
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US SEC says no to new crypto rules
Introduction The United States Securities and Exchange Commission (SEC) has recently announced its decision against implementing new regulations specific to the cryptocurrency industry. This decision comes as a blow to some investors and advocates who were hopeful for clearer guidelines surrounding digital assets. The SEC’s reasoning The SEC reaffirmed its stance of not requiring new…
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EU nears approval of artificial intelligence regulations
EU Nears Approval of Artificial Intelligence Regulations The European Union (EU) is on the verge of approving groundbreaking regulations on the use of artificial intelligence (AI). These regulations aim to establish a legal framework that safeguards fundamental rights, ensures public safety, and fosters innovation and trust in AI technologies. Under the proposed rules, high-risk AI…
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Australian BNPL regulations delayed until 2024
Australian BNPL Regulations Delayed Until 2024 In a significant development for the Australian fintech industry, the introduction of Buy Now, Pay Later (BNPL) regulations has been delayed until 2024. Originally expected to be implemented in the near future, this delay has both positive and negative implications for the booming BNPL sector. Buy Now, Pay Later…
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Turkey plans to finalise crypto regulations in 2024
Turkey Plans to Finalize Crypto Regulations in 2024 In a move to bring clarity and regulatory oversight to the crypto industry, Turkey has announced its plans to finalize crypto regulations by the year 2024. This decision comes as cryptocurrencies gain more recognition and popularity worldwide. With the rapid growth of cryptocurrencies and their significance…