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BoA to Pay $250mn Penalty for Harming Consumers

by Starling Insights

Observations

Jul 18, 2023

Bank of America (BoA) will pay $250 million to settle charges of credit card and banking abuses as part of an agreement with the US Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC).

The 2023 Compendium is available now!

Now in its 6th year, Starling's Compendium features over 40 contributors from across the industry as well as detailed analysis of the latest trends in culture & conduct risk supervision.

UK FCA Warns FinTechs on Consumer Duty

by Starling Insights

Observations

Apr 06, 2023

In a recent letter, Matthew Long, the UK Financial Conduct Authority's (FCA) Director of Payments & Digital Assets, warned the chief executives of payments firms to improve their culture and controls to avoid repercussions ahead of the new Customer Duty. The Duty, which comes into effect in July, demands that firms act to deliver good outcomes for retail customers.

All Tags UKUK FCA