Worldwide: Financial Services

A new House bill seeks to address the growing crisis of check and wire fraud by granting financial institutions expanded authority to delay funds availability when fraud is suspected. The proposed legislation would fundamentally reshape how banks balance expedited access requirements against the time needed to investigate sophisticated payment fraud. With no statutory cap on certain fraud holds, the bill raises critical questions about operational compliance, system readiness, and the regulatory rulemaking

New York's Department of Financial Services has proposed comprehensive regulations establishing a licensing and regulatory framework for buy now, pay later lending in the state. The proposed rules impose extensive requirements covering underwriting, disclosures, fees, disputes, data use, and customer service, while creating a state-by-state compliance patchwork as federal oversight recedes. BNPL providers may need to significantly modify their operations, including underwriting processes, payment flows, and

US regulators advance comprehensive frameworks for stablecoin oversight under the GENIUS Act, while UK authorities chart a parallel course for tokenized securities and digital asset custody. How are transatlantic regulatory approaches converging and diverging as traditional financial institutions increasingly integrate digital assets into their operations?