By: John ReVeal and Jennifer Crowder
On May 21, the South Carolina Governor signed a Bill to enact the Earned Wage Access Services Act (the Act), joining Kansas, Missouri, Nevada and Wisconsin as the fifth state to codify earned wage access (EWA) services. Many other states are considering such legislation, while a few others have so far relied on regulatory opinions or guidance.
Read MoreBy: Dr. Jan Boeing and Tanner Wonnacott
MiCA Update
The Regulation on Markets in Crypto-assets (MiCA)1 is part of the European Commission’s Digital Finance Package of September 2020, which includes other regulatory initiatives, such as the Pilot Regime for market infrastructures based on distributed ledger technology2 and the Digital Operational Resilience Act (DORA).3
Read MoreBy: Daniel Knight and Kithmin Ranamukhaarachchi
The Australian Attorney-General’s Department (Department) has released five consultation papers outlining proposals for extensive reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime.
Read MoreBy: Daniel Knight and Kithmin Ranamukhaarachchi
The Australian Attorney-General’s Department (Department) has released five papers outlining proposals for extensive reforms to Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime.
Read MoreBy: Jeremy McLaughlin and Chelsie Rimel
The Consumer Financial Protection Bureau (CFPB or Bureau) released a new report spotlighting common consumer complaints for credit card rewards programs. The Bureau and its Director, Rohit Chopra, have been focused on payments oversight, including by proposing a rule last Fall that would apply to nonbank entities that provide digital wallets. The new report discusses the relationship between consumers and the providers of reward programs, and it stresses the need for fairness and transparency.
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