Hacker News with Generative AI: Financial Regulation

CFPB Orders Operator of Cash App to Pay $175M and Fix Its Failures on Fraud (consumerfinance.gov)
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) ordered Block, the operator of the peer-to-peer payments app Cash App, to refund and pay other redress to consumers up to $120 million and pay a penalty of $55 million into the CFPB’s victims relief fund.

Financial Regulation, Fintech, Consumer Protection, Fraud

4 points by cbrozefsky 12 days ago | 0 comments

Fed Withdraws from Network of Central Banks for Greening the Financial System (federalreserve.gov)
The Federal Reserve Board on Friday announced it has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS).

Central Banking, Financial Regulation, Climate Change, Sustainability

6 points by impish9208 12 days ago | 0 comments

'Open banking' rules will put your financial data back where it belongs (theregister.com)
The US Consumer Financial Protection Bureau (CFPB) has finalized a rule that requires banks, credit card issuers, and most other financial firms to provide consumers with access to their personal financial data - and to help them transfer it, generally at no cost.

Financial Regulation, Consumer Protection, Data Privacy, Open Banking

38 points by rntn 94 days ago | 4 comments

Terraform Labs to pay $4.5B in SEC fraud case (ft.com)

Financial Regulation, Cryptocurrency, Legal Settlements

13 points by rntn 231 days ago | 3 comments