consumer-protection
Top StoriesSoaring Airline Customer Complaints Push Global Legislators to Act
FinanceHaunted by a Ghost Broker: Why the Insurance Industry Needs to Redouble Its Efforts to Protect Consumers
TechnologyFighting Fraud: Why Should Preventing Crime Be Voluntary?
Top StoriesUK Opposition Calls for Better Online Protections for Children
EU’s Planned Reforms Aim to Better Protect Power Bills From Market Swings
Date: January 23, 2023
By Kate Abnett BRUSSELS (Reuters) – European Union proposals to overhaul its electricity market will attempt to better protect consumer energy bills from short-term swings in fossil fuel prices, the European Commission said on Monday. The EU is reforming its power market to attempt to avoid a repeat of last year, when cuts to Russian...
Consumer Duty – What Every Financial Organisation Should Know
Date: November 29, 2022
By Vignesh Ramesh, Head of Consumer Duty Solutions at Medallia The new Consumer Duty rules from the UK’s Financial Conduct Authority (FCA) come at an pivotal time for the industry. Hot on the heels of the pandemic, and in the wake of market dislocation and evolving consumer expectations, the new rules stand to further tip...
What Impact Does Proposed U.S. Legislation on Authorized Fraud Liability Have on Banks?
Date: November 21, 2022
Jake Emry, Fraud Prevention Subject Matter Expert, NICE Actimize Social engineering scams are flourishing, putting a spotlight on the way unauthorized and authorized electronic transactions are interpreted under Regulation E (Reg. E), a regulation designed to protect consumers who use electronic methods to transfer funds. Currently, financial institutions (FIs) in the U.S. are facing increased...
‘Wave’ of Lawsuits Over Ftx Expected, but Investors Will Face Legal Hurdles
Date: November 18, 2022
By Jody Godoy (Reuters) – A lawsuit by FTX account holders in the United States is likely the first of many that will be brought over billions of dollars in losses on the cryptocurrency exchange, though the cases will face obstacles including proving that U.S. securities law applies to FTX’s products, experts said. The lawsuit,...
UK Financial Watchdog Urges Political Support for Crypto Bans
Date: November 16, 2022
By Huw Jones LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) on Tuesday called on lawmakers to show their support for its unpopular decision not to grant licences to scores of crypto exchanges like FTX, which has just collapsed. The FCA has come under pressure as 85% of licence applications from crypto trading firms have...
Spain Expects to Agree With Banks Mortgage Relief Measures by End of Week
Date: November 16, 2022
MADRID (Reuters) – Spain’s government expects to reach by the end of this week an agreement with banks on mortgage relief measures to help vulnerable households and middle-class clients cope with rising borrowing costs on such loans, the economy minister said. The government and lenders are readying a wider set of measures to help the...