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California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.

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California Expects IPO Tax Windfall

PYMNTS

California is gearing up to get a tax windfall from all the initial public offerings of California companies slated for this year. The paper noted the revenue from taxes could grow even more as companies and executives tap the public markets to cash in. It will amount to $13.8 billion, noted the report. billion in tax revenue.

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Ripple can’t escape XRP lawsuit it says could topple market

Bank Innovation

failed to persuade a judge to throw out a proposed class-action lawsuit that the blockchain payment services provider said could topple the market for XRP, the world’s third-largest virtual currency. Ripple Labs Inc.

Oakland 259
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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. Just Eat Takeaway to End Its Gig Worker Model.

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FinTech Firms Ease Resistance To California SMB Borrower Protection Rules

PYMNTS

While small business lending has become a platform for some high-profile FinServ scandals in several markets, opponents of expanding borrower protection legislation to small businesses have argued that such regulations would actually hamper financial institutions’ ability to expand credit access for the small business community.

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Embattled PacWest to sell to Banc of California for $1B

American Banker

Post-merger Banc of California will target "in-market relationship banking" by focusing on treasury management services and loan growth to boost "low-cost" commercial deposits, CEO Jared Wolff said.

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Ripple can’t escape XRP lawsuit it says could topple market

Bank Innovation

failed to persuade a judge to throw out a proposed class-action lawsuit that the blockchain payment services provider said could topple the market for XRP, the world’s third-largest virtual currency. Ripple Labs Inc.

Oakland 195