Remove Innovation Remove Online Remove Regulation Remove Virginia
article thumbnail

California DFPI issues final regulations implementing 2018 law requiring consumer-like disclosures for commercial financing

CFPB Monitor

The California Department of Financial Protection and Innovation (DFPI) has issued final regulations to implement SB 1235, the bill signed into law on September 30, 2018 that requires consumer-like disclosures to be made for certain commercial financing products, including small business loans and merchant cash advances. .

article thumbnail

Local Governments Move In On Retail Vacancies

PYMNTS

Many municipalities are looking to help by proposing new uses for vacant retail sites, including a citywide initiative in Fairfax, Virginia called Activate Fairfax , where the Department of Economic Initiative is soliciting requests for interest in an abandoned Container Store location.

Retail 135
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

CFPB Monitor

The OCC’s attempt to provide a clear bright line test for determining when a bank is the “true lender” in a bank-model program through a regulation was overturned by Congress under the Congressional Review Act.) Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado.

article thumbnail

Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply

PYMNTS

Biometric recognition technology uses a combination of artificial intelligence (AI) and machine learning (ML) to scan, analyze and store users’ biometric data, such as fingerprints, facial features, voices or even online browsing patterns to confirm that users are who they say they are. Digital Innovation, Legal implementation.

article thumbnail

Saving Main Street: Fairfax County, VA Kicks Into Gear

PYMNTS

One of those is in Fairfax County, Virginia. Activate Fairfax” is a relatively new department within the county’s government, coming online last October, with a focus on supporting small businesses with funding, business advice and activation of vacant spaces. Activate will show growth and innovation,” she predicted. “We

Maine 130
article thumbnail

Amazon Cloud Investigation And Walmart’s Answer To Libra Top Week’s News

PYMNTS

Bank Regulators Probe Amazon Cloud. The Federal Reserve orchestrated an official investigation of an Amazon facility in Virginia, kicking off what is expected to be ongoing oversight of cloud providers. Walmart’s Answer to Facebook’s Libra: the Walmart Coin. As SCA Deadline Looms, Merchants Scramble.

Apple 115
article thumbnail

Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending . Costco Card.

Lending 101