Vixio LinkedIn Live: A Regulatory Roundup of March's Payments News

Our Vixio Live series is your monthly window into the complex world of compliance and regulations, where our experts use our Horizon Scanning tool to review the biggest regulatory changes that have happened during the previous month.In this episode, Vixio experts Luke Baker and Jimmie Franklin examine the regulatory updates across various regions in March 2024.In the UK, slowing down fast payments if fraud is suspected, which can go on until the end of the fourth business day.In the EU, the Joint European Supervisory Authority published a series of responses to DORA consultations on March 12th.In the U.S. the CFPB published its final rule amending Regulation Z to address credit card penalty fees charged by issuers with one million or more open accounts, establishing a $8 safe harbour threshold.In APAC, the Monetary Authority of Singapore extended restrictions on money remittances from Singapore to China until 30th September 2024, except in certain cases (essentially the freeze is on non-bank and non-card channels).