Regulation News
The Bank of London, a global clearing and transaction banking startup, has applied for a European banking licence and committed to a €200 million investment and the hiring of 300 people in Luxembourg over the next five year.
The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has published its first consultation package under the Markets in Crypto-Assets Regulation and invites comments from stakeholders by 20 September 2023.
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today released a consultation document on its proposal to introduce a new standard condition for certain financial market licence holders.
UK chancellor Jeremy Hunt says he was refused a bank account by Monzo when he was a backbencher last year, claiming he was subject to differential treatment as a 'politcally exposed person'.
Shares in UK digital banking startup Fiinu have plunged after the lender had its restricted banking licence withdrawn in the face of challenging market conditions.
Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account, withholding reward bonuses explicitly promised to credit card customers, and misappropriating sensitive personal information to open accounts without customer knowledge or authorization.
