Fed Bars Three Former Bank Employees Over Funds Misuse and Check Fraud
Federal Reserve orders against former workers at Northstar Bank, American Express and Regions Bank expose risks across lending, merchant recruitment and branch operations.
Category: Regulation & Compliance
Reported Lagarde Intervention in Binance Bid Tests MiCA Licensing Independence
A report that ECB President Christine Lagarde intervened in Binance’s Greek MiCA application raises questions about licensing independence and EU supervisory boundaries.
House Moves to Codify DOJ Fraud Division Behind AI Data-Sharing Push
The House has voted to put the Justice Department’s new fraud division into federal law as its detection center combines agency and state data to pursue cross-program schemes.
CLARITY Act Stalls After Senate Rejects 49-50 Cloture Bid
A 49-50 Senate cloture defeat blocked debate on the CLARITY Act, leaving digital-asset firms and payment stablecoin programs without the proposed framework.
978 Merchants Challenge Visa-Mastercard Swipe-Fee Settlement Loopholes
A filing by 978 merchants and trade groups asks a federal judge to reject the Visa-Mastercard swipe-fee settlement, arguing its temporary concessions leave core pricing and liability risks intact.
Revolut Data Disclosure Exposes Government-Request Verification Gap
Revolut says fraudulent information requests sent through a legitimate government email domain led it to disclose sensitive data for a limited number of customers.
Nacha’s September 18 Rules Put IAT Classification and ACH Posting Under Review
Two Nacha rule changes taking effect September 18 require ACH participants to review international-payment classification and 9 a.m. funds availability.
Australia’s Card Surcharge Shutdown Puts PSP Controls on an October Deadline
Australian card networks will prohibit card-payment surcharges from October 1, leaving acquirers, PSPs, gateways and merchants less than a month to change systems and pricing.
Chime’s $590 Million Stride Deal Puts Bank Ownership and Debit Economics Under Review
Chime plans to buy longtime sponsor Stride Bank, bringing a national charter and bank oversight inside the fintech while aiming to remain below the $10 billion asset threshold.
CPMI-IOSCO Flag Vendor Lock-In and Cloud Risk at Critical Payment Systems
Global standard setters say critical payment and market infrastructures face growing cyber and operational risk from concentrated technology providers, opaque supply chains and difficult exits.
Fed Ends United Texas AML Order and Quontic Capital Pact
The Federal Reserve terminated two bank enforcement actions, ending United Texas Bank’s AML remediation order and a separate Quontic parent-company agreement.
RBA Finds No Retail CBDC Case as Scam and Privacy Gaps Persist
Australia’s central bank and Treasury see no current public-interest case for a retail CBDC, even as their consultation exposes persistent concerns about scams, unauthorized payments, privacy and outage resilience.