The Financial Conduct Authority (FCA) has published findings on how larger insurance firms approach Consumer Duty outcome monitoring, a critical component in safeguarding consumer interests. The information outlines both good and poor practices related to outcome monitoring, making it clear that
Michael Barr's unexpected resignation as Vice Chair for Supervision of the Federal Reserve has stirred significant conversations regarding the future of financial regulation in the United States. Barr's departure is set for February 28, 2024, and comes at a critical time when tensions with the
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 obligations
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 that
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 have
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 global
