California Expects IPO Tax Windfall

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California is gearing up to get a tax windfall from all the initial public offerings of California companies slated for this year. When Facebook went public, The Wall Street Journal reported California got $1.3 If California gets billions in tax revenue from the IPOs of tech companies, the governor could face pressure from liberal legislators and interest groups to increase spending.

Tech Lobbyists Oppose California Consumer Privacy Act

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Lobbying groups and trade associations representing tech giants such as Facebook and Apple have thrown their support towards legislation that could weaken California’s landmark privacy law.

California CPAs Call For Crypto Accounting Clarity

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Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward.

FinTech Firms Ease Resistance To California SMB Borrower Protection Rules

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However, lawmakers in California are getting closer to making legislation that would protect small business borrowers using alternative lending platforms, with industry players working with policymakers to make the new rules palatable for everyone.

Amid California Wildfires, FIs And Payment Services Offer Help

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Payment services providers and financial institutions are beginning their work in helping people recover from the California wildfires — with those disaster responses informed by experiences in previous wildfires and recent hurricanes.

WorldRemit Expands Into California

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24) that it has launched in California. s fasted growing startup, WorldRemit said it has set its sights on California, as the state is home to one in four migrants in the U.S. California will also stand as the company’s second largest market to date.

How California businesses are adapting to water shortages

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As the severe drought in California continues for a third

Fintech executive sworn in as California's top financial regulator

BankThink

State regulators Fintech regulations Fintech Career moves Affirm CFPB CaliforniaManuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.

CashCall, Courts And California’s Increasingly Confusing Lending Market

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Headquartered in Orange County, California and founded in 2003, CashCall is a big firm that consumers likely know best from its early commercials featuring the late Gary Coleman. During its 15 years in business, the firm grew up to be the largest lender of its kind in the state of California.

Santa Cruz County Bank in California agrees to buy neighbor

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Community banking M&A Growth strategies CaliforniaThe bank will have about $1 billion in assets after it acquires Lighthouse Bank, which is also based in Santa Cruz.

California Nears SMB Borrower Protection Rules

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California continues its efforts to extend borrower protection rules to small businesses (SMBs), with new support for the initiative from SMB advocates and an approval from the state’s Assembly Appropriations Committee and the California Senate. The California Senate followed with its approval of the SB 1235 bill, dubbed a truth-in-lending law.

Are you up-to-date on California employment laws?

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A tangle of new California

California Kroger Subsidiary Says No To Visa

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Foods Co, a subsidiary of grocery giant Kroger , has announced that 21 of its grocery stores and five of its gas stations in Central and Northern California are officially through with Visa branded credit cards as a form of payment, effective August 14, 2018. Payment Methods California Foods Co grocery Kroger News Retail Visa Visa credit cards What's Hot

California Naturel Misled Consumers, Says FTC

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California Naturel falsely advertised that its sunscreen as “all natural,” the FTC said Monday. But California Naturel also admitted that 8 percent of its sunscreen is dimethicone, which is synthetic. The FTC order, which mandates that California Naturel must not misrepresent ingredients or composition of its products or its natural or synthetic content, stemmed from an administrative complaint lodged against the company in April of this year.

California Moves Forward On Effort To Bank Marijuana Businesses

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California is pressing forward with efforts to provide legal banking services to marijuana businesses as cannabis companies struggle to get banked. Reports in The San Francisco Chronicle said California policymakers introduced a bill last Thursday (Jan. The bill, SB930, is one of several concepts that have surfaced in the state in recent months while California supports a growing industry. B2B Payments B2B banking California Marijuana regulation SMBs What's Hot In B2B

California AG Revives Backpage.com Lawsuit

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Backpage.com Chief Executive Carl Ferrer, along with two controlling shareholders, are facing fresh charges from California Attorney General Kamala Harris, who last week filed a lawsuit alleging the online media company engaged in pimping and laundering money. According to a report in Fortune , the move by the California AG revives a case that got dismissed by a judge earlier in December. News Security & Fraud Backpage.com California AG Lawsuit money laundering What's Hot

Celebrate California Small Business Day

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 A standby letter of credit can help your business grow

Fundation Digitizes SMB Loans For Banc Of California

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In a press release , Fundation said it is collaborating with Banc of California to develop a streamlined, digital small business lending and line of credit solution that the bank can offer to its small business clients.

California Senate to hold June 26 hearing on bill capping consumer loan interest rates

CFPB Monitor

The California Senate’s Banking and Financial Institutions Committee will hold a hearing on AB 539 on June 26, 2019. AB 539 was cleared by the California Assembly on May 23. State CFS Monitor Usury AB 539 california

CSBS: California A Template For States’ Role In Data Privacy Regs

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He pointed to the recent enactment of the California Consumer Privacy Act of 2018 as an example. B2B Payments B2B California consumer data CSBC data privacy data protection data security Legislation News regulationsThe Conference of State Bank Supervisors (CSBC) said last week that there should be a “floor” for data privacy and security regulations, a statement issued by the Senate Committee on Banking, Housing and Urban Affairs.

Auto Dealers In California Seek To Halt Volvo Subscriptions

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In an effort to halt Volvo from offering cars to consumers through subscriptions, the California New Car Dealers Association (CNCDA) filed a petition with the New Motor Vehicle Board in the state.

California Dreamin’ (Of A Higher Minimum Wage)

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The news out of California on Monday (March 28) that Governor Jerry Brown, state lawmakers and labor leaders have reached an agreement to raise the state’s minimum wage to $15 an hour has the country buzzing.

No More Waiting To Pay At California Pizza Kitchen

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California Pizza Kitchen has taken notice of this and has decided to raise the bar in its current mobile app, CPK Pizza Dough Rewards. By eliminating the post-meal waiting time, California Pizza Kitchen has placed value on both customers’ experience level and time. “We In fact, 80 percent of our Pizza Dough Rewards loyalty members engage with us through their mobile device,” said Ashley Ceraolo, senior vice president of marketing and beverage at California Pizza Kitchen.

Walmart Ramps Up Curbside Pickup in California

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The superstore has seen success in Seattle, Oklahoma City, and 10 locations throughout California, but it is expanding the number of locations in the Golden State. Retail Amazon California curbside pickup delivery ecommerce grocery grocery store Grocery Stores News supermarket walmart What's HotIt’s safe to say that online shopping has changed the way in which consumers shop and altered expectations when it comes to service.

Business Cry Foul Over California’s New Data Privacy Law

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California’s new consumer privacy law is facing a backlash from businesses around the U.S. The companies, noted the WSJ , are unhappy that California lawmakers didn’t consult them when figuring out how to implement the law. Data businesses California customer loyalty programs data privacy law retailers tech companies What's Hotwhich contend the law will hurt all sorts of companies, whether it’s retailers or customer loyalty programs.

Establishing a California Consumer Privacy Act Compliance Program

Perficient Financial Servies

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Data & Analytics Financial Services Integration & IT Modernization Operations Regulatory Compliance California California Consumer Privacy Act California privacy consumer privacy act

California bill capping consumer loan interest rates clears Assembly

CFPB Monitor

Last week, by a vote of 60 to 4 (with 16 not voting), the California Assembly cleared AB 539 , which would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new rules governing loan duration, and prohibiting prepayment penalties.

InsurTech Oyster Launches Workers’ Comp Service In California

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A new insurance technology ( InsurTech ) company is rolling out its workers’ compensation solution in California. Insurance Journal reported late last week that Oyster Insurance launched its services in California after rolling out in New York and New Jersey earlier this year.

Guide: Complying with the California Consumer Privacy Act of 2018

Perficient Financial Servies

The state of California has passed a digital privacy law that requires businesses to make disclosures about their collection, use, and dissemination of consumer personal information. The California Consumer Privacy Act (CCPA) will have far-reaching effects on how financial institutions manage their customer data. It affects all for-profit companies doing business in California that generate revenues over $25 million, or receive more than 50,000 unique personal records per year.

California Passes Online Privacy Data Law Aimed At Protecting Consumers

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The state of California passed a new digital privacy law that provides consumers with more transparency and control over their digital data. While technology and businesses in California weren’t in support of the bill, they didn’t attempt to prevent it because the ballot initiative was even tougher, noted The New York Times. But “it prevents the even worse ballot initiative from becoming law in California.”

Getting Started with California Consumer Privacy Act Compliance

Perficient Financial Servies

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Compliance with the CCPA requires robust processes for identifying, governing, distributing, and securing consumer personal information.

Fintech executive sworn in as California's top financial regulator

Payments Source

State regulators Fintech regulations Fintech Career moves Affirm CFPB CaliforniaManuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.

California Looks To Revoke Wells Fargo Insurance License

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The state of California’s insurance regulator is aiming to suspend or revoke the insurance licenses from Wells Fargo due to illicit sales practices with an online referral program. According to a report in CNBC , the state regulator contends that around 1,500 unauthorized policies were opened for California customers without them knowing about it. Regulation California insurance fraud insurance regulator News security & fraud wells fargo What's Hot

Southern California bank's challenge: Build statewide brand

BankThink

Community banking M&A Growth strategies Capital CaliforniaThe pressure is on CEO Christopher Myers, one of our community bankers to watch, to make the most of CVB Financial's biggest acquisition to date.

Expect Challenges with the California Consumer Privacy Act

Perficient Financial Servies

We recently published a guide examining the California Consumer Privacy Act of 2018, and the steps any financial institution must take in its response to the new law to evaluate its exposure and current state of readiness. Data & Analytics Financial Services Integration & IT Modernization Operations Regulatory Compliance California Consumer Privacy Act California privacy compliance Consumer Privacy DATA DISPERSION MARKETING USAGE THIRD-PARTY RISK

‘Mini CFPB’ won’t solve California’s bank regulation problems

BankThink

Consumer banking Policymaking Enforcement actions Enforcement Richard Cordray State of California 13069F CFPBThe state should overhaul its Department of Business Oversight, but proposals to create a statewide financial protection bureau miss the mark.

California bank is working with fintech firm to help business clients

BankThink

Fintech Community banking Small business lending California ColoradoPacific Mercantile and P2Bi are collaborating on a program to help businesses that are not ready for traditional bank financing.

California lawmaker considers statewide CFPB

BankThink

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents. Nonbank Small-dollar lending Payday lending State regulators Financial regulations Richard Cordray CFPB

Pot banking bill advances in California

BankThink

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry. Marijuana banking Marijuana industry Law and regulation Small business AML FinCEN California

Gov. Brown should veto California’s small-business lending bill

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Small business lending Small business Asset-based lending CaliforniaThe legislation, which creates new disclosure standards for financing costs, could hamstring commercial lenders that offer revolving credit facilities.

A salute to California's small businesses

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Small

California Dealership Sells First Bike for Bitcoins

Bank Innovation

At least one powersports dealer is accepting a new form of payment for motorcycles: bitcoins. Old Road Harley-Davidson, a dealership in Santa Clara, Calif., sold a Harley-Davidson motorcycle to a customer using only bitcoins last month, according to a published report. Bitcoin has been in the news a lot lately, particularly as car dealers continue […]. Cryptocurrency Payments Bitcoin cryptocurrencies

NEW REPORT: California Takes An Unattended Twist on Vehicle Registration

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In the interview, Gonzalez told PYMNTS that, so far, the more than 100 terminals deployed around California are accomplishing what they were supposed to. . “We The next stop on the road to technological evolution in the transportation industry may just be unattended.