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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon

PYMNTS

In today’s top news, California lawmakers propose a financial watchdog at the state level, and Germany launches an antitrust investigation into Amazon. California Proposes Financial Watchdog Agency. Plus, the Federal Reserve is working with MIT to explore the use of digital currency. Germany Launches Investigation Into Amazon.

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Starship Technologies Rolls Out Robotic Food Delivery In Arizona

PYMNTS

Amid increasing demand for contactless delivery, Starship Technologies has rolled out a robot food delivery offering in Tempe, Arizona. Ryan Tuohy, who leads Starship Technologies’ business development, said in a statement, “The demand for contactless delivery has expanded exponentially in recent weeks.

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Leafbuyer Technologies Buys Greenlight Technologies To Expand Its Cannabis Markets

PYMNTS

Leafbuyer Technologies, the cannabis technology company, announced Thursday (November 8) it has acquired Greenlight Technologies, a California-based application development company. Leafbuyer noted in the press release that the acquisition more than doubles Leafbuyer’s client base in California. “We

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Internet Association Says Companies Support National Data Privacy Rules

PYMNTS

The Internet Association, a group that represents Facebook, Amazon and Alphabet’s Google , among other technology and internet companies, said on Tuesday (Sept. that are more modern, but urged lawmakers to approach the issue nationally. The aim is to get it into place before the California law kicks in.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate. Section 160.110(d). Section 7.4001(e).

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California court rejects OppFi’s attempt to block DFPI’s “true lender” challenge to loans made through bank partnership

CFPB Monitor

A California state court has overruled the demurrer filed by Opportunity Financial, LLC (OppFi) to the cross-complaint filed by the California Department of Financial Protection and Innovation (DFPI) in which OppFi asked the court to reject the DFPI’s “true lender” challenge.

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California Dept. of Financial Protection and Innovation responds to OppFi’s attempt to block “true lender” challenge to loans made through bank partnership

CFPB Monitor

The California Department of Financial Protection and Innovation (DFPI) has filed its opposition to Opportunity Financial, LLC’s (OppFi) Demurrer to the DFPI’s cross-complaint. The DFPI also alleged additional CFL violations by OppFi, including the CFL’s “anti-evasion” provisions.