Bank Innovation

NOVEMBER 1, 2017

The lawsuit of a small business in Massachusetts against alternative lender Kabbage is raising questions about the role of partner banks in marketplace lending, namely, whether it’s the bank or the fintech that can be called the “true lender.”

Massachusetts 287

Massachusetts Fintech Lending Compliance 287

CFPB Monitor

APRIL 22, 2020

The emergency regulation, entitled “Unfair and Deceptive Debt Collection Practices During the State of Emergency Caused by COVID-19” (940 CMR 35:00), applies to creditors and debt collectors. It violates the separation of powers clause in the Massachusetts Constitution by impermissibly interfering with judicial functions. Constitution.

Massachusetts 78

Massachusetts Regulation Groups Tools 78

PYMNTS

APRIL 1, 2020

It outlines the need for regulation and oversight because “unconstrained use of facial recognition services by state and local government agencies poses broad social ramifications that should be considered and addressed.”. Many states don’t have any laws regulating the use of facial recognition technology.

Washington 304

Washington Policies San Francisco Oakland 304

PYMNTS

JUNE 25, 2018

MetLife was charged with making false statements to investors on Monday (June 25) by the securities regulator in Massachusetts. After an investigation, the state regulator lodged the charges against the company after MetLife said in December it didn’t make payments to retirees.

Massachusetts 108

Massachusetts Regulation Security New York 108

CFPB Monitor

OCTOBER 27, 2020

On October 23, 2020, Massachusetts Attorney General Maura Healey filed a motion to dismiss in ACA International v. The lawsuit challenges the state’s emergency regulations that placed a ban on outbound collection calls. Massachusetts is still in the State of Emergency Period, but the 90-day period lapsed on June 24, 2020.

Massachusetts 78

Massachusetts Regulation Industry 78

CFPB Monitor

MARCH 30, 2020

On March 27, 2020, the Massachusetts Attorney General filed an emergency regulation interpreting the Massachusetts Consumer Protection Act, M.G.L. Chapter 93A, to address certain practices by creditors and debt collectors that it has determined to be unfair and deceptive under present circumstances.

Massachusetts 78

Massachusetts Regulation Industry National 78

CFPB Monitor

MAY 7, 2020

A Massachusetts federal district court has entered a temporary restraining order that blocks the state’s attorney general from enforcing the prohibitions on initiating lawsuits and making collection calls in the AG’s emergency debt collection regulation promulgated on March 26. Section 35.03 Section 35.04 Constitution.

Massachusetts 78

Massachusetts Regulation Groups Marketing 78

PYMNTS

MAY 1, 2018

Regulators in the U.S. are considering the regulation of digital tokens outside bitcoin. The Wall Street Journal reported that the inquiry is focused on the cryptocurrency Ethereum, which hasn’t been in the crosshairs of regulators as of yet.

Regulation 104

Regulation Bitcoin cryptocurrency Massachusetts 104

PYMNTS

DECEMBER 17, 2020

16), Massachusetts securities regulators filed a complaint against Robinhood alleging the company aggressively marketed to inexperienced investors and failed to implement controls to protect them, violating state laws and regulations. The complaint was from the office of William Galvin, Massachusetts secretary of state.

Massachusetts 185

Massachusetts Regulation Security Payments 185

CFPB Monitor

NOVEMBER 5, 2018

It has been reported that, without announcement or warning, the regulations applicable to third-party debt collectors in Massachusetts may have changed. Such a change could have significant implications because the AG’s rules differ from the DOB’s rules.

Massachusetts 68

Massachusetts Regulation Examples Groups 68

CFPB Monitor

OCTOBER 1, 2021

The Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulation has issued a supervisory alert to warn financial institutions of the potential legal and regulatory risks arising from NSF fees charged on the representment of unpaid transactions.

Massachusetts 78

Massachusetts Regulation Compliance Payments 78

PYMNTS

MAY 7, 2018

Bitcoin may be the marquee name in cryptocurrencies, but regulation may loom for its digital dollar brethren. Recent inquiries from regulators in the federal securities and commodities realms have centered on Ethereum. of Massachusetts. Dodd-Frank. Dodd-Frank lives.

Bitcoin 108

Bitcoin Regulation cryptocurrency Virginia 108

PYMNTS

NOVEMBER 30, 2017

Privacy regulators of the European Union said Wednesday (Nov. According to a news report in Reuters , European data protection authorities said regulators from France, Italy, Spain, Belgium, the U.K. But it’s not just European regulators who want answers from Uber. Meanwhile, regulators in the U.K., Lawmakers in the U.S.

Regulation 100

Regulation Connecticut Illinois Massachusetts 100

PYMNTS

NOVEMBER 1, 2017

A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. and Celtic Bank in a federal court in Massachusetts.

Massachusetts 128

Massachusetts Utah National Regulation 128

PYMNTS

NOVEMBER 23, 2017

Ride-hailing app company Uber, which made news when it covered up a huge data breach that exposed roughly 600,000 driver’s license numbers, could face investigations by regulators around the globe. 22), regulators in the U.K., According to a report in Fortune published Wednesday (Nov. Meanwhile, in the U.K., were impacted by it.

Regulation 100

Regulation Cyber Security Connecticut Illinois 100

PYMNTS

MAY 7, 2020

Its revised regulations , detailed on its Frequently Asked Questions page, urges companies who have access to other financing to reconsider whether they really needed the money. They have been given until May 14 to return the loan money with no questions asked.

Meeting 198

Meeting Massachusetts Regulation Maine 198

Abrigo

OCTOBER 29, 2014

Multifamily, commercial and automotive loans are driving loan growth among banks in the Northeast, but increasing risk will draw fresh attention from regulators to ensure recent and future growth is sound, the Office of the Comptroller of the Currency said recently. The OCC on Oct. The OCC on Oct.

Rhode Island 236

Rhode Island District of Columbia New Jersey West Virginia 236

PYMNTS

DECEMBER 17, 2020

Massachusetts Suing Robinhood, Alleging Failure To Protect Investors. Massachusetts regulators filed a complaint against Robinhood on Wednesday (Dec. 16) alleging that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Massachusetts 147

Massachusetts Bitcoin Payments System 147

American Banker

JUNE 9, 2021

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Massachusetts 99

Massachusetts Fintech Regulation 99

PYMNTS

FEBRUARY 15, 2018

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. Can the states make licensing – of the money movement kind – any easier?

Washington 101

Washington Regulation Conference Fintech 101

PYMNTS

JANUARY 2, 2019

And how will regulators and lawmakers respond? Artificial intelligence — arguably one of the most important digital technologies going into 2019 — could soon face export regulations set by the U.S. David Edelman, a technology policy researcher at the Massachusetts Institute of Technology. “It How will they scale? AI Dual Use.

US 198

US United States Regulation Technology 198

American Banker

JANUARY 21, 2021

A bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years.

Massachusetts 83

Massachusetts Regulation 83

CFPB Monitor

MAY 22, 2020

But what areas will the regulators and plaintiffs’ counsel focus on, and how can the industry stay out of the crosshairs? I will be a speaker on the program, along with former CFPB Director Richard Cordray, Shennan Kavanagh from the Massachusetts Attorney General’s Office, and prominent consumer class-action lawyer John Roddy.

Regulation 78

Regulation US Massachusetts Industry 78

PYMNTS

SEPTEMBER 20, 2017

New York Governor Andrew Cuomo announced that he wants credit reporting firms to comply with the state’s new cyber-security regulations in the wake of the massive Equifax hack , according to Reuters. If the companies fail to register, they could be barred from doing business with financial companies regulated by New York State.

Cyber Security 100

Cyber Security Report New York Massachusetts 100

PYMNTS

SEPTEMBER 8, 2017

Reuters reported news that Massachusetts Attorney General Maura Healey announced the settlement of the lawsuit on Thursday, which is the result of a probe that predated her office’s adoption of regulations in 2016 to govern daily fantasy sports. DraftKings and FanDuel will pay a combined $2.6 Each company will pay $1.3

Massachusetts 100

Massachusetts Regulation Company Industry 100

PYMNTS

MARCH 28, 2018

In Massachusetts, a state regulator is seeking to stop several companies that appeared to be selling coins in initial coin offerings (ICOs), Reuters reported. The Secretary of the Commonwealth in Massachusetts, William Galvin, said his office has asked five companies to stop selling coins: Mattervest, Inc., SparkCo, Inc.

Bitcoin 116

Bitcoin Company Massachusetts cryptocurrency 116

PYMNTS

AUGUST 17, 2020

Amazon is facing an investigation by Germany’s national competition regulator into the eCommerce giant’s relationship with third-party sellers in Amazon’s second-largest market. The Federal Reserve is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing a digital currency.

California 148

California Massachusetts Apple Fraud 148

American Banker

APRIL 12, 2020

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

Regulation 93

Regulation Pennsylvania Massachusetts California 93

PYMNTS

JULY 24, 2019

Senator Elizabeth Warren of Massachusetts said earlier in 2019 that large tech firms like Facebook and Amazon should be broken up. billion euro fine from regulators across the pond, where the search giant has been accused of antitrust behavior. And, in the process, they have hurt small businesses and stifled innovation.”.

Retail 128

Retail US Massachusetts United States 128

PYMNTS

DECEMBER 24, 2020

Said Allaire of the bid to get digital currencies more front and center: “Regulators are getting their arms around them … the digital asset market is now moving, more and more, into the mainstream of finance, FinTech payments and banking world.”. And, of course, the crypto landscape extends well beyond bitcoin.

Bitcoin 258

Bitcoin cryptocurrency Course Boston 258

PYMNTS

MARCH 7, 2019

Massachusetts already requires businesses to accept cash. . The new law will take effect in July and would require most retail outlets to accept physical currency. New Jersey recently passed a similar law and New York City is on the path to doing so as well.

Philadelphia 213

Philadelphia New York City New Jersey Atlanta 213

PYMNTS

FEBRUARY 24, 2017

Locations on the radar for new Coinsource ATMs in 2017, according to Sharp, included in Maryland, Massachusetts, Washington, D.C., Coinsource CEO Sheffield Clark said the company hopes to have 100 machines installed in the U.S. by the end of Q1, adding: “In 2016, we were installing bitcoin ATMs at an average of 1.2 machines per week.

Bitcoin 194

Bitcoin St. Louis Las Vegas cryptocurrency 194

PYMNTS

OCTOBER 17, 2018

On October 4, the Massachusetts Cannabis Control Commission (CCC) issued its final four recreational marijuana licenses to businesses, meaning legal marijuana will soon be available for purchase. Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana.

Colorado 126

Colorado Massachusetts US Industry 126

PYMNTS

APRIL 14, 2020

After that, a private law practice followed by an appointment by William Weld (then governor of Massachusetts) as commissioner of revenue in 1975. She has steered the organization toward helping its members and their employees navigate the tangle of rules and regulations that can help them access newly established government relief programs.

Boston 252

Boston Massachusetts Retail United States 252

PYMNTS

FEBRUARY 6, 2018

Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.

Fintech 118

Fintech US Tennessee Washington 118

PYMNTS

APRIL 25, 2016

and Massachusetts (Yucesoy v. that will see Uber pay up to $100 million in restitution to drivers in those states, but won’t require the company to recategorize and regulate its drivers as full-time employees. Uber CEO Travis Kalanick announced that the company had settled two court cases filed in California (O’Connor v.

Massachusetts 100

Massachusetts San Francisco California Austin 100

PYMNTS

JANUARY 24, 2020

The Global Consortium for Digital Currency Governance will be geared toward the development of transparent, interoperable and inclusive approaches to policy to regulate the crypto industry and facilitate work between the public and private worlds in emerging and developed economies, Cointelegaph reported.

cryptocurrency 130

cryptocurrency Massachusetts Policies Taxes 130