Vixio Regulatory Intelligence reposted this
🔍Here’s the latest news in payments that Vixio Regulatory Intelligence covered in the last week: 1️⃣ Four UK Banks Breached Competition Rules, Says Regulator. HSBC, Lloyds, TSB and Allied Irish Bank (AIB) have violated Competition and Markets Authority (CMA) regulations designed to enhance transparency in retail banking, the regulator has announced. 2️⃣ CFPB Warns Against Intimidation Of Whistleblowers. The US Consumer Financial Protection Bureau (CFPB) has issued a circular to regulators and law enforcement explaining how companies may be breaking the law by requiring employees to sign broad non-disclosure agreements (NDAs). 3️⃣ FCA Imposes New Rules On Bank Branch Closures In Cash-Poor Areas. The UK’s Financial Conduct Authority (FCA) has confirmed that new restrictions on bank branch closures in certain areas will come into effect on September 18, 2024. 4️⃣ All Payment Systems Functioned Normally During Microsoft Outage, Says Singapore. The Monetary Authority of Singapore (MAS) has reported that all of its payment systems managed to stay online during last week’s global cyber outage. 5️⃣ ANZ Settles First Cross-Border Transaction Using Real-Time Payments Platform. ANZ has become the first Australian bank to settle a cross-border transaction using the country’s real-time payments system. 6️⃣ Bank Of Lithuania Issues Warning To EMI Over Sanctions Compliance. The Bank of Lithuania has issued a warning to IBS Lithuania after determining that the e-money institution (EMI) has failed to comply with international sanctions and client identification requirements. 🔗 Read the full blog here: https://lnkd.in/edYvdERG #PaymentsIndustry #RegTech #Vixio #Compliance #OpenBanking #FinancialRegulation #GlobalFinance #Innovation 💸🌐📈