
Topic: Payments openbanking
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November 23, 2023
On 14 November 2023, the European Payments Council published:
FCA publishes findings from multi-firm review on anti-fraud controls and complaint handling in firms (with a focus on APP fraud)
November 16, 2023
On 7 November 2023, the FCA published the findings from its multi-firm review on anti-fraud controls and complaint handling in firms, with a focus on authorised push payment (APP) fraud.
CFPB proposes new federal supervision of certain providers of digital wallets and payment apps
November 13, 2023
On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to supervise larger nonbank companies that offer services like digital wallets and payment apps. The issuance of this proposed rule should not come as a surprise, as the CFPB has provided several hints in recent months that it would be looking to use its authorities to conduct supervisory examinations of nonbanks operating consumer payment platforms, including through the issuance of a proposed rule to define larger participants operating in this market.
PSR report on APP fraud performance
November 08, 2023
On 31 October 2023, the Payment Systems Regulator (PSR) published a report on authorised push payment (APP) fraud performance.
Wolfsberg Group publishes updated Payment Transparency Standards
November 02, 2023
On 24 October 2023, the Wolfsberg Group published updated Payment Transparency Standards, which replace the 2017 standards to reflect changes in payment methods, infrastructure and landscape.
DNB consults on Q&A on supervisory boards at payment institutions and EMIs
October 19, 2023
On 16 October 2023, the Dutch Central Bank (De Nederlandsche Bank, DNB) published for comment a draft Q&A on supervisory boards at payment institutions and electronic money institutions (EMIs). The draft Q&A provides firms with guidance on the circumstances DNB requires a supervisory board at a payment institution or EMI.
PSR updates penalty statement
October 19, 2023
On 12 October 2023, the Payment Systems Regulator (PSR) published an updated penalty statement.
FSB annual progress report on meeting the targets for cross-border payments
October 17, 2023
On 9 October 2023, the Financial Stability Board (FSB) published its inaugural annual report on key performance indicators (KPIs) for meeting the targets for cross-border payments and a consolidated report on progress under the FSB’s Roadmap for enhancing cross-border payments.
Public consultation for DNB’s Good Practices for electronic money institutions and payment institutions regarding intra-group relationships
October 03, 2023
On 18 September 2023, the Dutch Central Bank (De Nederlandsche Bank, DNB) launched a public consultation on the draft ‘Good Practices Intra-Group Relationships’ applicable to e-money institutions and payment institutions. The consultation is open until 17 November 2023.
HM Treasury Policy Statement ‘Payment service contract termination rule changes: Implementation, timings and next steps’
October 03, 2023
On 2 October 2023, HM Treasury published a Policy Statement ‘Payment service contract termination rule changes: Implementation, timings and next steps’.