Regulation

U.S. consumer watchdog removes ‘ability-to-pay’ need from final payday loan rule

U.S. consumer watchdog removes ‘ability-to-pay’ need from final payday loan rule

Published 08/07/2020

WASHINGTON (Reuters) - The U.S. Consumer Financial Protection Bureau on Tuesday issued its long-awaited payday lending measure that rescinds an Obama-era proposal requiring lenders first [more…]

Italian cabinet approves ‘mother of all reforms’ to slash red tape

Italian cabinet approves ‘mother of all reforms’ to slash red tape

Published 07/07/2020

ROME (Reuters) - The Italian government approved a package of measures on Tuesday aimed at cutting the complicated red tape that has long been blamed [more…]

Big Four told to ring fence auditing in Britain by June 2024

Big Four told to ring fence auditing in Britain by June 2024

Published 06/07/2020

LONDON (Reuters) - PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on [more…]

EU banks to take on Visa, Mastercard with new payments system

EU banks to take on Visa, Mastercard with new payments system

Published 02/07/2020

LONDON/PARIS (Reuters) - Sixteen banks from Germany, France and three other euro zone countries on Thursday said a “truly European” payments system was expected to [more…]

Wirecard’s former boss faces criminal complaint in Austria

Wirecard’s former boss faces criminal complaint in Austria

Published 30/06/2020

VIENNA (Reuters) - An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek [more…]

More Britons take a bet on bitcoin

More Britons take a bet on bitcoin

Published 30/06/2020

LONDON (Reuters) - The number of people in Britain buying cryptoassets like bitcoin BTC=BTSP and ether has more than doubled over the past year, but [more…]

New rules may be needed for payments in wake of Wirecard, BIS boss says

New rules may be needed for payments in wake of Wirecard, BIS boss says

Published 30/06/2020

LONDON (Reuters) - More joined up rules may be needed across the payments sector after the collapse of Germany’s Wirecard AG, Bank for International Settlements [more…]

Exclusive: Germany missed chances to put Wirecard on watchlist, source says

Exclusive: Germany missed chances to put Wirecard on watchlist, source says

Published 30/06/2020

FRANKFURT (Reuters) - German regulators twice looked into tightening the supervision of collapsed payments firm Wirecard and discussed it with the German and European central [more…]

Cineworld delays U.S., UK cinema reopenings to end of July

Cineworld delays U.S., UK cinema reopenings to end of July

Published 30/06/2020

LONDON (Reuters) - Cineworld (CINE.L) on Tuesday delayed the reopening of its cinemas in the United States and Britain until the end of July, citing [more…]

U.S. starts paring back Hong Kong’s special status due to security law

U.S. starts paring back Hong Kong’s special status due to security law

Published 29/06/2020

WASHINGTON (Reuters) - The United States began eliminating Hong Kong’s special status under U.S. law on Monday, halting defense exports and restricting the territory’s access [more…]