All posts tagged "consumer protection"
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702Crypto / Digital AssetsIMF Urges El Salvador to Remove Bitcoin’s Legal Tender Status
The IMF said the adoption of a cryptocurrency as legal tender entails "large risks" relating to financial stability, financial integrity, and consumer protection.
February 3, 2022 -
1.3KEnforcementPhilippines Passes New Financial Consumer Protection Act
The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.
February 3, 2022 -
721Fintech / RegtechKorea FSS Amends Rules to Facilitate Lending by Internet-only Banks
Internet-only banks will be allowed to use a lower weight for existing household loans when calculating calculating loan-to-deposit ratios.
January 31, 2022 -
517ChinaCBIRC Warns Against Marketing Scams in Financial Sector
The CBIRC warns consumers against marketing scams, illegal fundraising and fraud in the loans and insurance sectors.
January 28, 2022 -
1.3KBig PictureVirtual Banking and Consent-based Data Governance
New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
January 28, 2022 -
831Fintech / Regtech
Korea FSS Vows to Increase Support for Fintech Industry
The FSS will push for the enactment of a so-called "Fintech Nurturing Act", which will ease restrictions on investment in fintech firms by financial companies.
January 24, 2022 -
1.6KAsia-PacificOJK Indonesia Launches Green Taxonomy, Sets Policy Priorities
OJK says the taxonomy will enable the financial sector to classify green activities within their portfolios, facilitate monitoring of credit and investment flows into the green sector, and prevent greenwashing.
January 21, 2022 -
997Fintech / RegtechFSC Korea Reiterates Plans to Regulate Bigtech in Financial Services
The FSC will apply “same rules for same services” to ensure fair competition between bigtech firms and financial institutions.
January 18, 2022 -
774Big PicturePolicy Reforms Needed for Platform-based Financial Services: BIS
A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.
January 14, 2022 -
1.2KCrypto / Digital AssetsFormer CFTC Chair Calls for Dedicated US Crypto Regulator
Such a bureau would have its own authorisation and financing, and adopt the mandates of both the CFTC and SEC, said J. Christopher Giancarlo.
January 10, 2022
