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Today In Payments: Apple Parts Maker Foxconn Back To Work In China; Two Chinese Nationals Laundered $100M In Crypto

PYMNTS

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns. Two Chinese Nationals Charged With Laundering $100M In Crypto.

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Is Sales Tax An Anchor On Amazon?

PYMNTS

One of the more long-grumbled complaints in retail is that Amazon and other eCommerce players are able to exploit a loophole that allowed them to mostly avoid charging sales tax. Would collecting sales tax 100 percent of the time take a bit out of Amazon’s bottom line? Recent data suggests — probably not.

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3 Ways Credit Union Are Driving Growth

Abrigo

According to the Credit Union National Association (CUNA) , credit unions had a record year in 2015, with 3.7 Bank acquisitions by credit unions did not exist until 2011, when St. Offering competitive rates Because credit unions are exempt from federal corporate income taxes, they are able to offer competitive fees and interest rates.

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African Dictator’s Son Stands Trial For Money Laundering

PYMNTS

The trial got under way after the United Nations denied a request by Equatorial Guinea at the end of last year to halt proceedings on the argument that Obiang is covered by diplomatic immunity. Obiang is the son of the country’s president, Teodoro Obiang Nguema.

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FI Highlight: National Police Credit Union

Banking 2020

Jim Bedinger, COO of Chicago Patrolmen’s Credit Union and CEO of National Police Credit Union , shares how he’s working towards reaching a targeted audience and community – police members and their families. In a few sentences could you please tell us a bit more about National Police Credit Union?

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US Retail Sales See February Slump

PYMNTS

percent from the previous month and a full 6 percent year on year, the most significant decline since December 2011. Eugenio Aleman, senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina, told Bloomberg that one of the reasons February sales growth was relatively weak was due to the delay of tax refunds.

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The state of U.S. small businesses

Abrigo

Separately, ADP’s recent National Employment Report showed positive hiring trends among small companies, too. million small businesses in 2011, and they made up all but 0.3 Net profit margin has been adjusted to exclude taxes and include owner compensation in excess of their market-rate salaries. According to the U.S.

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