Citizens Bank to Pay $9 Million Fine Over Credit Card Billing Errors
The Consumer Financial Protection Bureau (CFPB) and Citizens Financial Group were able to reach an agreement on the CFPB complaint.
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Hong Kong Securities Regulator Starts Accepting License Applications from Crypto Exchanges
Applications for crypto trading platform licenses in Hong Kong will start being accepted on June 1, as soon as existing guidelines are officially updated
Huobi Ordered to Close Operations in Malaysia
Securities Commission Malaysia (SCM) ordered the crypto exchange Huobi Global to stop operations in the country, stating the firm failed to register its business properly
G7 Countries Seek Common Vision for AI
The leaders of the G7 countries intend to hold a negotiation process, following which a common vision of artificial intelligence will be formed and the goals of its development will be outlined.
Disney Scraps $867 Million Florida Plan
The Walt Disney Company has abandoned its intention to invest $867 million in the construction of a new corporate campus in the state of Florida.
TikTok Creators Sue Montana Over App Ban
A group of TikTok users filed a lawsuit to get the Montana state administration to cancel the blocking of this digital platform.
FTC Says Biometric Surveillance Threatens Civil Rights
The Federal Trade Commission (FTC) has stated that the increased use of biometric data entails risks related to privacy, security, and discrimination.
Fertility App Fines $200,000 for Leaking Customer’s Health Data
The company that created the popular infertility treatment app Premom has announced to pay $200,000 in federal and state fines.
Sam Altman Urges Congress to Regulate Powerful New Technology
On Tuesday, May 16, Sam Altman, Chief Executive Officer of OpenAI, told US senators about the aspects of the development and application of artificial intelligence, the regulation of which he supports.
Wells Fargo Reaches $1 Billion Settlement With Shareholders
Wells Fargo & Co has decided to pay $1 billion to settle the court agreement.
Microsoft’s $69 Billion Activision Deal Wins EU Approval
In the European Union, the regulator approved Microsoft’s corporation takeover of Activision Blizzard Inc.
Facctum Launches Anti-Fincrime Tech for Nigerian Banks
The new anti-financial crime solutions harness the power of parallel processing technology to help Nigerian financial institutions modernise financial crime detection
TD Bank Needs Years to Address Regulators Concerns
An analyst at Barclays Plc claims that, with a high degree of probability, Toronto-Dominion Bank will not be able to conclude deals on the acquisition of retail banking services in the United States for the next few years.
UK Extradites Autonomy Co-Founder Mike Lynch to US
British technology entrepreneur Mike Lynch has been extradited to the United States, where he will be charged with committing illegal acts.
CFPB Warns Banks Against Creation of Fake Accounts for Fee Harvesting
Consumer Financial Protection Bureau (CFPB) The United States has issued a circular stating that banks unilaterally deciding to reopen a deposit account for processing transactions, previously closed by a customer violate the Consumer Financial Protection Act.
Revolut CFO Resigns Citing Personal Reasons
Revolut’s chief financial officer retired two years after starting work in the British fintech industry.
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