Financial Regulations

In an unexpected turn of events, Cross River Bank has decided to drop its high-profile lawsuit against Fiserv's First Data Merchant Services unit. The lawsuit was filed in the Eastern District of New York and centered around allegations that First Data attempted to evade contractual

In a recent disclosure, Discover, a major player in the credit card industry, revealed that the Securities and Exchange Commission (SEC) has raised concerns about its accounting practices. The issue centers around Discover's historical misclassification of certain credit card charges, a matter

The Scottish National Party (SNP) is currently engulfed in a substantial financial scandal that has captured the nation's attention. Allegations have arisen that the party made significant payments amounting to hundreds of thousands of pounds to a non-existent company. These serious claims

The Financial Conduct Authority (FCA) has announced a comprehensive overhaul of its regulatory framework. This sweeping initiative, which is driven by the introduction of the Consumer Duty, aims to simplify and streamline rules, reduce compliance burdens on businesses, and boost the UK's

The Digital Operational Resilience Act (DORA) is poised to significantly transform the landscape of the financial services sector within the European Union (EU) by January 2025. This regulation aims to enhance the operational resilience of financial institutions against the backdrop of escalating

The rapid advancement of artificial intelligence (AI) has started to redefine the landscape of the financial services sector. Financial regulators are now facing a dual challenge: harnessing the benefits of AI while mitigating its risks. Given the transformative potential of AI in areas such as