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ÂÜÀòžž LinkedIn Live: A Regulatory Roundup of May's Payments News
This month’s episode dives into May’s regulatory updates across the UK, EU, Thailand, and the U.S., highlighting developments in consumer protection, financial inclusion and cybersecurity.
This month’s episode dives into May’s regulatory updates across the UK, EU, Thailand, and the U.S., highlighting developments in consumer protection, financial inclusion and cybersecurity.
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Our ÂÜÀòžž Live series is your monthly window into the complex world of compliance and regulations, where our experts use our Horizon Scanning tool to review the biggest regulatory changes that have happened during the previous month.
In this episode, ÂÜÀòžž experts Luke Baker, Jimmie Franklin, and John Gidla, examine the regulatory updates across various regions in May 2024.
Highlights include:
- In the UK, significant regulatory changes include proposed amendments to the Payment Services Regulation aimed at combating authorised push payment fraud and new rules on account terminations to enhance consumer protection.
- The EU is also active with the implementation of regulations like MICA and DORA, which are tightening standards across various areas, including cybersecurity and digital operational resilience.
- In Thailand, new rules for virtual bank licences aim to boost competition and financial inclusion, while India introduced directives for credit card issuers to offer more network options to consumers.
- In the US, the Consumer Financial Protection Bureau has capped credit card late fees and a significant lawsuit against Apple could reshape the digital payments landscape, potentially fostering competition and impacting the future of super apps.
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