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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).

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How Video Games Are Helping Retailers Grow And Innovate

PYMNTS

Video games are helping to drive retail innovation and growth, and that includes the hot area of subscription commerce. Gaming is figuring out the upsell,” Burkhart told Webster, “and utterly changing the entire market.”. This is only part of the innovation trend stemming from video games.

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How Clothing Stores Are Driving Retail Innovation

PYMNTS

Macy’s , for example, is testing out pop-up stores in 10 cities in a concept called “The Market @ Macy’s.” According to the PYMNTS Retail Innovation Readiness Index , 85 percent believe they need to innovate to stay competitive. And among large retailers, 82 percent said innovation is necessary for continued success.

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Inside Chipotle’s Decade Of Digital-First Ordering Innovation

PYMNTS

A convenient and seamless ordering experience from online and mobile channels is essential for restaurant customers. Quick-service restaurants (QSRs) have heard the call for innovative digital ordering capabilities, with several major brands stepping up their investments in this area. Recent Developments From the Restaurant Front.

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Piecemeal Order-To-Cash Innovation Won't Cut It For Cross-Border Commerce

PYMNTS

They will need to continue innovating these processes to stay on top of shifting B2B trends worldwide. BoxFox On Why Order-To-Cash Innovation Is Key For Businesses Expanding Globally. For more on these and other stories, read the Playbook’s News & Trends.

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Digital Payments, Online Ordering And Memberships Top This Week’s News

PYMNTS

We have deep dives on digital payments, online ordering and memberships. Membership has its privileges ” was the nine-year marketing campaign rolled out by American Express in 1987 to convince consumers that it was worth paying a yearly fee for one of its charge card offerings. Trackers and Reports.

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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.