Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
US Court Vacates CFPB's USD 8 Credit Card Late Fee Cap After Bureau Concedes Rule's Deficiencies
A US court vacated the Consumer Financial Protection Bureau's USD 8 credit card late fee cap after the CFPB agreed with industry plaintiffs that the rule violated the CARD Act.
NYDFS Fines Block Inc. $40 Million for Cash App AML Compliance Failures
NYDFS imposed a $40 million penalty on Block Inc. for KYC, transaction monitoring, and SAR deficiencies in its Cash App and bitcoin operations.
CBN Fines Zenith Bank ₦15.43 Billion, the Largest Among Banks' Disclosed 2024 Penalties
Nigeria's central bank levied ₦15.43 billion in fines on Zenith Bank for FX and other infractions, the largest among the 2024 CBN fines disclosed in banks' audited financial statements.
APRA Imposes $1 Billion Capital Add-On and Court Enforceable Undertaking on ANZ Over Risk Failures
APRA raised ANZ's capital add-on to $1 billion and accepted a court enforceable undertaking after finding persistent non-financial risk management weaknesses.
India's RBI restores rating-based risk weights on bank loans to NBFCs as rollback takes effect
The Reserve Bank of India's reversal of its November 2023 risk-weight increase on bank loans to NBFCs took effect on 1 April 2025; a separate change moving microfinance loans off a 125 per cent risk weight applied from 25 February.
GTCO's 2024 regulatory penalties total ₦1.6 billion, led by ₦1.2 billion Ghana FX fine
Most of the group-wide total came from a Ghana foreign exchange penalty, while penalties paid in Nigeria, including one linked to a CBN mystery shopping exercise, came to ₦383.6 million.
Tanzania brings into force rules requiring domestic prices and payments in shillings
Regulations on the use of foreign currency took effect in Tanzania on 28 March 2025, requiring goods and services sold in the country to be priced and paid for in Tanzanian shillings, with limited exemptions.
Turkey's Central Bank Mandates Open Banking Integration Through BKM with December 2025 Deadline
Turkey's CBRT has required payment service providers to integrate open banking access via BKM infrastructure, with a compliance deadline of 31 December 2025.
Nigeria's CBN Fines Zenith Bank ₦15.42 Billion in Aggregate Penalties for AML, FX and Regulatory Violations
Nigeria's central bank imposed aggregate penalties of ₦15.42 billion on Zenith Bank Plc during 2024, covering FX trading, AML compliance, cybersecurity, and consumer protection failures.
CBUAE Fines Five Banks and Two Insurers AED 2.6 Million for CRS and FATCA Reporting Failures
The UAE Central Bank imposed AED 2.621m in sanctions on five banks and two insurance companies for CRS/FATCA non-compliance for failures in due diligence and reporting accuracy.
Bank Negara Malaysia Imposes RM18.9 Million in Fines Across 326 Supervisory and Enforcement Actions in 2024
Bank Negara Malaysia took 326 supervisory and enforcement actions totalling RM18.9 million in penalties in 2024, with AML/CFT violations leading the list of breaches.
NYDFS and state regulators order Sigue to exit money transmission over unpaid transfers
A multistate settlement published by New York's DFS requires Sigue Corporation to permanently stop money transmission and surrender its licences after it failed to pay out outstanding transfers.