Attributed to Monica Eaton, Founder and CEO of Chargebacks911:

“The recent executive order granting the White House direct control over independent regulators like the Securities and Exchange Commission (SEC), Federal Trade Commission (FTC), and Federal Communications Commission (FCC) is a concerning shift that could reshape financial oversight, consumer protections, and technology regulation. This move, mirrored by developments in the U.K., signals a broader global shift in regulatory control—one that threatens to stifle competition and innovation, not enhance them.”

“With the shuttering of the Consumer Financial Protection Bureau (CFPB), the launch of innovative new systems like Open Banking now hangs in the balance, potentially ending before it even begins. If future rulemaking is stalled and existing regulations are rolled back, key protections and innovations in financial services could be lost. Open Banking was designed to empower consumers, foster competition, and enable fintech growth. If it is not allowed to take off in the U.S., we risk entrenching outdated systems that benefit incumbents rather than promoting progress.”

“These changes aren’t confined to the U.S. The U.K. government recently decided to mirror the U.S. by absorbing the Payment Systems Regulator (PSR) into the Financial Conduct Authority (FCA) in order to ‘simplify’ payments regulation and seems to be moving ahead with ‘Project Chainsaw’, a DOGE-like department to shrink the administrative state. The PSR’s absence raises a crucial question: Who should regulate payments innovation? The answer is clear—it should be led by consumers, merchants, and financial service providers, not dictated by governments or regulatory bodies. Sometimes that will mean the government stepping out of the way, sometimes it will mean regulators providing scaffolding on which to build great companies, as European regulators did with Open Banking.”

“In the payments industry, true innovation often struggles under the weight of regulatory frameworks that favor larger institutions. Regulation should support competition, not hinder it. The industry must break free from restrictive mindsets that stifle growth. True competition emerges from consumer-driven solutions—not top-down mandates that dictate product evolution. To foster real innovation, we must advocate for policies that empower consumers, rather than constrain them.”

To learn more, visit: https://chargebacks911.com.

ENDS

About Monica Eaton

Monica Eaton is the Founder and CEO of Chargebacks911 and Fi911, as well as Chief Information Officer of Global Risk Technologies. Monica has worked tirelessly to educate merchants and financial institutions about hidden threats in the rapidly changing payment fraud landscape. Leading Chargebacks911, was founded in Tampa Bay, Florida, expanding internationally also to become Europe’s first chargeback remediation specialist to tackle the chargeback fraud problem. In ten years, Chargebacks911 has successfully protected more than 10 billion online transactions and has recovered over $1 billion in chargeback fraud.

Recognizing that the impact of chargebacks goes beyond merchants, Fi911 provides unrivaled support to financial institutions with innovative back-office management technologies. Fi911’s pioneering DisputeLab™ tool streamlines chargeback management for acquirers, automating legacy processes and standardizing methods that simplify and speed the end-to-end workflow, improving the customer experience and accountability for all stakeholders.

Monica is a passionate diversity advocate committed to developing and sharing innovative solutions that empower the global fintech space. She has earned numerous awards, distinctions and special recognitions, including the Retail Systems Awards, where she received the ‘Outstanding Individual Achievement Award’ and was named ‘Global Leader of the Year’ at the Women in IT Awards.