TechREG 1 1000x600 1 Exclusive: California Regulator Probes Crypto Lenders

Exclusive: California Regulator Probes Crypto Lenders

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-The U.K. Parliament has sent letters to Visa and Mastercard asking for an explanation of the increase in cross-border fees after the U.K. left the European Union.
-The inquiry comes after the payment regulator in the U.K. signaled that Visa and Mastercards increases may indicate that the market is not working well.
-In California, a financial regulator is investigating several crypto lenders for suspending withdrawals and transfers.
-Amazon has offered concessions to the European Union in hopes of settling two antitrust probes, including fair treatment to third-party sellers and banning the use of nonpublic data to compete with the merchants on its eCommerce site.
-The European Commission is now inviting comments on Amazon’s commitments to weigh if the competition concerns are adequately addressed.
-The Treasury Committee at the U.K. Parliament has requested that Visa and Mastercard provide explanations of their increases in cross-border interchange fees by July 27.
-The California Department of Financial Protection and Innovation will be investigating whether crypto asset companies that suspended withdrawals and transfers have broken the law.
-The High Court of England and Wales has granted an order permitting the court to serve documents of court proceedings via the transfer of a non-fungible token (NFT) on the blockchain.
-The Consumer Financial Protection Bureau (CFPB) has made it a priority for the bureau to fight against junk fees, overdraft fees, non-sufficient fund (NSF) fees and credit card late fees.
-The New York Department of Financial Services has announced that it is prohibiting unfair and deceptive overdraft and NFS practices.

 

 

TechREG 1 Exclusive: California Regulator Probes Crypto Lenders
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