The Federal Communications Commission (FCC) has reached a settlement with AT&T that resolves the agency’s investigation into a January 2023 hack in which AT&T customer information was taken from a vendor’s cloud environment. A consent decree resolving this investigation requires AT&T to pay $13 million...
The payments landscape can be — and frequently is — shaped by both innovations and regulations. And with the news that businesses in the United Kingdom have just two weeks left to prepare for the Oct. 1 enactment of the Employment (Allocation of Tips) Act...
Two U.S. lawmakers want the Government Accountability Office (GAO) to help them evaluate the memberships of federal banking agencies in a global governance body, the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). The NGFS is a group of central banks...
A newly proposed bill would require states that allow sports betting to meet minimum federal standards covering advertising, affordability and artificial intelligence. The SAFE Bet Act was introduced Thursday (Sept. 12) by Congressman Paul D. Tonko, D-.Y., and Sen. Richard Blumenthal, D-Conn., according to a press release...
A European regulator is investigating whether Google’s artificial intelligence model complies with privacy laws. Ireland’s Data Protection Commission (DPC) is examining whether the tech giant performed a legally required data protection impact assessment before processing European Union residents’ personal data used in its Pathways Language...
Navient is exiting the federal student loan business as a regulator prepares to fine it $120 million. The company, formerly known as Sallie Mae, was sued in 2017 by the Consumer Financial Protection Bureau (CFPB) over its lending practices. Now, the regulator has filed an...
Where there is smoke, there tends to be fire. But where there exists the repeated appearance of deficiencies in the audit process of a business, there often tend to be deeper issues across internal controls, financial reporting, governance or compliance — issues that can ultimately...
A U.K. banking executive says the country needs to resolve its unfair auto-lending practice investigation. Great Britain’s Financial Conduct Authority (FCA) said in July that it was extending that probe, something that doesn’t sit well with William Chalmers, finance chief for Lloyds. “A delay isn’t...
American regulators are reportedly probing whether tech giants are abusing their AI marketplace position. Among these companies under probe is Nvidia, the Wall Street Journal (WSJ) reported Sunday (Sept. 8). Sources tell the news outlet that the Department of Justice (DOJ) has already contacted the...
