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California DFPI issues draft text for second rulemaking under Debt Collection Licensing Act

CFPB Monitor

As discussed in an earlier blog post , the California Department of Financial Protection and Innovation (“DFPI”) issued an Invitation for Comments on the Proposed Second Rulemaking under the Debt Collection Licensing Act (“DCLA”) on August 19, 2021. Code §§ 28100 et seq.). 10 CCR § 1850.2 Code § 100021. 10 CCR § 1850.71

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Treasury Dept. revenue proposals address tax treatment of earned wage access programs

CFPB Monitor

The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals includes a proposal concerning how EWA programs should be characterized for tax purposes. It would also add a definition of on-demand pay arrangements to the IRC.

Taxes 78
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Cannabis Logistics Finds Opportunity In Uncharted Territory: WAYV

PYMNTS

FinTech innovation is often a layered process, taking existing infrastructures and processes, and developing new tools to improve upon them. These markets have similar challenges to the legal marijuana sector: products that are regulated, expire and have unique needs in terms of compliance and shipping. .

Taxes 122
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Governments Fuel Blockchain’s Global Proliferation

PYMNTS

Singapore stepped onto the global stage as a world leader in blockchain innovation in recent months. Financial regulators may want to begin looking at not only regulating blockchain, but how blockchain can help in their own regulatory efforts — in this case, to ensure proper safeguards and controls in the banking sector.

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Tech Center: Orlando Dips Its Toes Into Tech Startup Water

PYMNTS

Neil Dufva, CEO of Crunchy Logistics , a tech design company that specializes in innovative customer connections, told PYMNTS that Orlando is on its way to tech superstar status. ND: People always ask me why I don’t move Crunch to California/Silicon Valley. I always respond with “Why would I do that?”

Florida 110
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What’s Wrong With The Attack On Gig Economy Pay

PYMNTS

So went the narrative, which formed the central thesis of a study about the regulated taxi industry in the City of San Francisco, which was presented to then-mayor of San Francisco and now Governor of California Gavin Newsom. They want tools to help track their expenses and manage tax payments for the work they perform.

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How CPAs Can Help Loan Officers Assess Business’ Risks, Valuations

NCR

As auditors, we take on a fiduciary responsibility to verify each client’s financial records – their tax returns, income statements and each line of the balance sheet. The best advice we can give is for them to filter their tax and accounting through the experienced eyes of a highly trained and experienced CPA.

Taxes 40