The European Commission fined Apple 500 million euros (about $566 million) and Meta 200 million euros (about $226 million) Wednesday (April 23), saying the companies violated the Digital Markets Act (DMA). Apple breached the DMA’s anti-steering obligation by imposing restrictions that prevent app developers from...
PYMNTS Intelligence has spotlighted the appeal of on-demand wages, as the ability to break free from the two-week pay cycle allows workers to manage cash flow and their expenses in a more fluid manner. In the “No-Wait Wages: Leveraging Instant Payments to Boost Employee Satisfaction”...
The United Kingdom’s Financial Conduct Authority (FCA) is establishing offices in the United States and the Asia-Pacific (APAC) region to offer services like helping firms navigate U.K. regulations to enter the U.K. market or raise capital. This is the first time the FCA has established...
The Commodity Futures Trading Commission (CFTC) released an interpretive letter providing views on certain foreign exchange (FX) transactions. The letter (CFTC Letter No. 25-10) delivers the views of the CFTC’s Market Participants Division and Division of Market Oversight on the characterization of certain FX transactions as being swaps,...
The European Union is reportedly preparing penalties against X that include a fine and demands for changes to the platform. The penalties are expected to be announced this summer and would be the first issued under the EU’s Digital Services Act, which requires companies to police their platforms...
The Justice Department reportedly told financial regulators that it didn’t have sufficient evidence to block the proposed merger between Capital One and Discover. This decision would allow the two banking regulators that must approve the deal — the Federal Reserve and the Office of the Comptroller of the Currency — to approve the...
The Senate Banking Committee voted Thursday (April 3) to advance President Donald Trump’s nominee as chair of the Securities and Exchange Commission (SEC), Paul Atkins, to the full Senate, which will vote whether to confirm the appointment. The committee’s vote was 13 to 11, along...
The Securities and Exchange Commission (SEC) will reportedly restructure its regional offices so that fewer people report directly to the agency’s enforcement director. Effective April 9, the SEC’s 10 hubs across the country will be reorganized under four deputy directors — West, Northeast, Southeast and...
The on-again, off-again saga of the Consumer Financial Protection Bureau (CFPB) continues. The Trump administration on Saturday (March 29) filed a claim in the U.S. Court of Appeals asking it to weigh in on a decision issued Friday that seemingly gave the agency a new...
