Legal

25 articles tagged with this keyword

/payments

US judge rejects "paltry" $30 billion swipe fee settlement

A US district court judge has rejected an agreed $30 billion settlement over swipe fees between the two major card schemes and US merchants partially on the grounds that Visa and Mastercard have the financial armoury to pay "substantially" more.

/payments

US judge rejects $30bn interchange fee settlement

A US judge has rejected a $30 billion settlement between Visa, Mastercard and retailers over credit card interchange fees.

/crypto

US judge green lights Terraform's $4.5bn SEC settlement

Terraform Labs and its former CEO Do Kwon have reached a $4.5 billion settlement with the SEC after a jury verdict held them liable for orchestrating a years-long fraud involving crypto asset securities that led to massive investor losses when the scheme unravelled.

/payments

Judge paves way to end JPMorgan-Viva Wallet valuation dispute

The legal tussle between JPMorgan and the founder of Viva Wallet over the Greek payments firm's valuation appears to have been settled by a UK judge.

/payments

Visa and Mastercard set for card fee suit

A UK tribunal has ruled that interchange fee lawsuits against Visa and Mastercard can proceed.

/payments

Lawyers of Wirecard boss Braun down tools due to lack of funds

Markus Braun, the disgraced ex-boss of Wirecard, has been forced to rely on state provided legal support after his former lawyer quit because of lack of funds.

/payments

Citi suit prompts dispute between CFPB and industry groups

A legal case involving how Citi responded to customers who had money stolen via wire transfers has caused a spat between the CFPB and industry associations over the scope of the Electronic Fund Transfer Act (EFTA).

/retail

Visa and Mastercard offer $197m to settle ATM class action suite

Visa and Mastercard have agreed to pay $197 million to settle a long-running class action lawsuit accusing them of keeping ATM fees artificially high.

/people

Former FTX exec gets 7.5 years in prison

Ryan Salame, a former executive at collapsed crypto outfit FTX, has been sentenced to seven and a half years in prison.

/people

Binance founder Changpeng Zhao gets four month prison term

The founder of crypto exchange Binance, Changpeng "CZ" Zhao, has been sentenced to four months in prison in the US after pleading guilty to violating anti-money laundering requirements.

/crypto

Crypto trader convicted of $110m fraud

A cryptocurrency trader has been convicted of fraud in connection with a $110 million market manipulation case.

/regulation

Temenos rejects Hindenburg claims after probe completed

Shares in core banking provider Temenos have risen upon news that an investigation commissioned by the company found that accusations of mismanagement by short seller Hindenburg Research were "inaccurate and misleading".

/crypto

Insurers target crypto market

The global insurance industry is turning its attention to the risks posed by cryptocurrencies and digital assets, judging by recent product announcements.

/crime

Turkish crypto chief starts 11,196-year prison sentence

Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.

/regulation

US and UK sign agreement to regulate AI models

The governments of the UK and US have signed what they claim is the first international bilateral agreement to regulate the risks of artificial intelligence (AI) models.

/people

Sam Bankman-Fried sentenced to 25 years in prison

Sam Bankman-Fried has been sentenced to 25 years in prison for stealing $8 billion from customers of FTX, the bankrupt cryptocurrency exchange he founded.

/crypto

Worldcoin banned in Portugal over privacy concerns

Worldcoin, the crypto biometric project fronted by OpenAI boss Sam Altman, has been temporarily banned in Portugal over data privacy concerns.

/payments

Visa and Mastercard reach $30bn interchange fee settlement with merchants

After nearly 20 years of litigation, Visa and Mastercard have reached a settlement with US merchants lowering and capping credit card interchange rates in a deal that could save the merchants $30 billion over five years.

/regulation

Russia-linked fintechs hit with US sanctions

The US government has imposed sanctions on 13 fintechs for offering crypto-based services to Russian firms looking to evade the economic restrictions in place since the outbreak of war in Ukraine.

/people

Binance exec escapes Nigerian custody

A Binance executive detained by Nigerian authorities last month has escaped, according to local media reports. Meanwhile, the West African country has charged the cryptocurrency exchange with a host of tax evasion charges.