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Latest Results from /regulation

/regulation

Central banks adopt LLMs to extract climate risk data from corporate reports

The Bank for International Settlements has completed proof-of-concept testing of Project Gaia, an initiative conducted in concert with three central banks to explore the use of natural language processing, optical character recognition and machine learning to extract climate-related data from corporate reports.

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UDPN launches digital currency sandbox

The Universal Digital Payments Network (UDPN) has launched a digital currency sandbox for both commercial and central banks.

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Finra fines M1 Finance over misleading social media influencer posts

M1 Finance has been fined $850,000 by the Financial Industry Regulatory Authority (Finra) for social media posts made by influencers on the fintech's behalf.

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EBAday 2024: Calling early-stage startups to showcase products

The 19th edition of EBAday, the largest annual European event for payments and transaction banking, will return on 18th – 19th June 2024 at CCL in Lisbon, Portugal.

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Court tells Klarna to pay $733,000 over GDPR failings

Klarna must pay a fine of nearly three quarters of a million dollars for violating the EU's General Data Protection Regulation (GDPR), a Swedish court of appeal has ruled.

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US Chamber of Commerce files suit against CFPB over late card fees

The US Chamber of Commerce has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) to stop it from implementing a rule to limit late credit card fees.

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Banks to be given more time to investigate APP fraud

UK banks will be given an extra 72 hours to stall payments if they suspect authorised push payment fraud.

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BaaS platform Griffin raises $24 million and launches as a fully-operational UK bank

UK Banking-as-a-Service startup Griffin has snared $24 million in fresh funding to meet regulatory capital requirements and exit 'mobilisation' as a fully-licenced bank.

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Spain blocks Sam Altman's Worldcoin venture

Sam Altman’s cryptocurrency outfit Worldcoin has been told by Spain to stop collecting and using people's personal data.

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US digital dollar is “nowhere near” development, says Federal Reserve chair

Chairman of the US Federal Reserve Jerome Powell spoke before the Senate on Thursday, stating that the US was “nowhere near” CBDC development.

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BofE plans cloud-based data platform and AI pilots

The Bank of England is building out a cloud-based data and analytics platform after an independent review found "nervousness" in adopting the technology.

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Former Citi and Google compliance expert Reno Mathews joins due diligence startup Spektr

Danish due diligence startup Spektr has hired former Citi and Google executive Reno Mathews as chief compliance officer.