CFPB Monitor

SEPTEMBER 10, 2020

In 2019, California enacted AB-539, the Fair Access to Credit Act (FACA), which, effective January 1, 2020, limits 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.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

SEPTEMBER 8, 2020

We previously wrote about California Governor Newsom’s 2020-2021 Budget and an accompanying trailer bill that would rename the Department of Business Oversight (“DBO”) and significantly increase its ability to oversee financial services providers in the state. California Consumer Financial Protection Law. Register here. the “CFPA”).

California 78

California Innovation Regulation Report 78

PYMNTS

FEBRUARY 13, 2019

The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. Last year, regulated marijuana sales in Colorado were nearly $1.55 In comparison, California ‘s marijuana market has struggled since sales began in January 2018.

Industry 155

Industry Colorado Taxes California 155

PYMNTS

DECEMBER 12, 2016

9), Michigan became the first state in the union to pass statewide, comprehensive self-driving vehicle regulations that allow autonomous vehicles to drive … well, autonomously. As of now, only motor vehicle manufacturers can operate self-driving car networks in Michigan. On Friday of last week (Dec.

Michigan 100

Michigan Regulation Florida Apple 100

Perficient

JANUARY 7, 2021

They had to change the way they operate with new social distancing guidelines. The government has regulations for greenhouse gas emissions, and companies have carbon-neutral goals. For example, some states, such as California and Massachusetts, plan to ban the sale of new gas-powered cars by the year 2035.

Marketing 309

Marketing Industry Mobile Massachusetts 309

PYMNTS

MAY 4, 2017

Then, companies working to develop the technological means for cars to drive themselves have levied more than a few criticisms against proposed regulation changes in the state of California. sales operations. Apple, for one, is hoping that California will work to toughen some of its current self-driving road test policies.

California 100

California Policies Company Apple 100

PYMNTS

AUGUST 25, 2016

Though small businesses have suffered from a gap in financing availability post-2008, the demographic continues to shape the financial markets. That focus provides insights into the direct link between lenders, their SME borrowers and the communities in which those businesses operate. A Regional Reach.

Regulation 100

Regulation Lending Community California 100

PYMNTS

SEPTEMBER 25, 2019

The legislation aims to ensure that state-authorized and regulated cannabis businesses are not forced to operate with cash only. Committee Chairwoman Maxine Waters of California voiced her support of the legislation, as well as calling for the House Judiciary Committee to advance legislation to address the criminalization of marijuana.

Ohio 235

Ohio Colorado Washington California 235

PYMNTS

MARCH 1, 2019

Russia’s trade associations have accused Visa and Mastercard of abuse of market power in the country. The trade associations added that the payment amount is also too high when compared to the developed retail market. Russia isn’t the only country where the credit card companies are running into problems with their fees.

Marketing 128

Marketing Cards California Retail 128

PYMNTS

JULY 17, 2020

Facebook Inc’s top executives could be required to testify before the Federal Trade Commission (FTC) as the regulator investigates whether the California-based social media conglomerate has violated U.S. CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg are preparing for potential depositions, a source told The Journal.

social media 160

social media California Google Apple 160

PYMNTS

NOVEMBER 1, 2018

In the rare instance that a new market emerges, using the blueprints that other industries have created in supply chain management, logistics, procurement and other areas may seem like the easy path to take. Take, for example, markets like the food and beverage, pharmaceutical and medical supplies space.

Taxes 122

Taxes California Regulation Innovation 122

PYMNTS

DECEMBER 1, 2019

EU antitrust regulators are probing Google to see how the search giant uses and monetizes the data it collects on users, Reuters reported on Saturday (Nov. The preliminary investigation is ongoing,” the EU regulator told Reuters in an email. Google was also ordered to modify its operations. 30), citing the European Commission.

Google 151

Google Puerto Rico Data Alabama 151

PYMNTS

DECEMBER 30, 2019

30) said a lack of regulation in the online SMB lending arena is raising concerns over sky-high fees and interest rates, sparking a bigger conversation about expanding borrower protections beyond consumers. are operated by sole proprietors with no other employees. But recent reports in the Wall Street Journal Monday (Dec.

Lending 131

Lending Online California New York 131

CFPB Monitor

APRIL 6, 2021

The California Department of Financial Protection and Innovation (DFPI) announced last week that it has entered into a consent order that permanently bars James Berry and any company he owns or controls from soliciting customers for Property Assessed Clean Energy (PACE) financing and seeking future enrollment as a solicitor for PACE programs.

CA 78

CA California Company Innovation 78

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. This bill of “personal financial data rights” is similar to the California Privacy Protection Act that is already in force for banks doing business in CA.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

AUGUST 30, 2019

In related news, the California-based blockchain Baton Systems said it has received $12 million in series A funding led by Trinity Ventures, Venture Beat reported. . Speed to market is critical in an industry that is crying out for modernization while at the same time facing a daunting global regulatory environment.”.

Bitcoin 188

Bitcoin Nevada cryptocurrency ATM 188

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov. Any FinTech disruptor, when it becomes so big, represents systemic risk,” he told Webster.

US 168

US Regulation Groups System 168

PYMNTS

FEBRUARY 5, 2020

According to a spokesperson, the company wouldn’t say whether it intends to extend the age limits to any other markets, and they said users under 25 years old wouldn’t be restricted from applying for bookings further away from their test area. Airbnb is privately valued at $30 billion, according to Pitchbook.

San Francisco 139

San Francisco California Marketing Regulation 139

PYMNTS

JUNE 21, 2018

Sources say Robinhood Markets is in talks with regulators about offering banking services to its more than 4 million users. The company is not allowed to operate like a bank under current rules, but would like to offer banking-like products such as savings accounts through different licenses or partnerships.

Regulation 123

Regulation Millennials California Capital 123

Independent Banker

OCTOBER 1, 2022

The privacy of customers’ personal information is at the forefront of every community banker’s decisions, says Steven Estep, ICBA assistant vice president of operational risk. The California Privacy Rights Act ripple effect. CCPA was modeled closely after the European Union’s General Data Protection Regulation (GDPR).

Data 91

Data How To Community Bank California 91

PYMNTS

AUGUST 27, 2020

CriticalPoint Capital, a Los Angeles merger and acquisition advisory and investment bank, will acquire the shoe website while the lingerie platform will be purchased by Delta Galil Industries, an Israeli manufacturer and marketer of branded and private label apparel products for men, women and children. operation in Culver City, California.

Los Angeles 144

Los Angeles Branding Arkansas Retail 144

PYMNTS

JULY 3, 2018

A recent California Supreme Court decision that essentially allows a negative Yelp post to stand about a lawyer could help determine how online reviews are treated in the future. Beyond the implications of negative reviews and political speech, companies face other challenges in the race to control their digital marketing efforts.

Online 104

Online California social media San Francisco 104

PYMNTS

OCTOBER 3, 2019

“Amercanex will give these business owners the opportunity to maintain and grow their business operations online in a secure and legitimate way.”. Last week the U.S. House of Representatives passed the SAFE Banking Act , legislation which aims to allow financial institutions to service legal cannabis companies.

Compliance 130

Compliance Industry California Taxes 130

PYMNTS

NOVEMBER 27, 2019

ByteDance, the company that owns popular social media app TikTok, is attempting to separate itself from its Chinese operations, as a probe of the company is ongoing, according to a report by CNBC. . The company also has plans for a data management team in Mountain View, California.

social media 116

social media United States California Data 116

Independent Banker

JULY 31, 2022

Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. Location: Fort Lauderdale, Fla. That’s no small feat for any de novo, especially during a pandemic.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

SEPTEMBER 8, 2020

949 gigabytes of confidential data have been accessed by ransomware attackers targeting IT distributor Ma Labs , reports in CRN said, an attack that has stalled the company's operations and left its customers in limbo. 1 million was stolen from the City of Industry via invoice fraud, claims officials in the California city.

Company 174

Company Los Angeles Fraud Data 174

PYMNTS

JULY 31, 2017

Is the credit union market ready for its close-up? It’s a market that is showing clear signs of growth. This inaugural edition of the Tracker covers the most significant recent developments from around the credit union market, including notable innovations, industry partnerships and efforts to challenge and change regulations.

Report 114

Report Innovation Regulation National 114

CFPB Monitor

MARCH 18, 2021

The CFPB’s complaint , which was filed in a California federal district court, also names FNZA Marketing, LLC (FNZ) as a relief defendant. . Student debt relief companies have also been a continuing FTC target.

Company 78

Company Management Leadership California 78

PYMNTS

NOVEMBER 27, 2019

ByteDance, the company that owns popular social media app TikTok, is attempting to separate itself from its Chinese operations, as a probe of the company is ongoing, according to a report by CNBC. . The company also has plans for a data management team in Mountain View, California.

social media 100

social media United States California Data 100

PYMNTS

JANUARY 18, 2019

As they are busy managing jobs, soccer practice, dance lessons and social schedules we are on a mission to do more than keep a little extra money in their pockets,” Tom Ward, senior vice president of Digital Operations, Walmart U.S., said in a press release.

Arizona 148

Arizona Metro Training California 148

PYMNTS

DECEMBER 28, 2020

Facebook is turning off a number of functions in its Instagram and Messenger apps for European users after new a European Union regulation called the “ePrivacy directive” began covering messaging apps as of Dec. It takes time to rebuild products in a way that work seamlessly for people and also comply with new regulation.”.

Compliance 148

Compliance Google Texas Apple 148

PYMNTS

JANUARY 8, 2019

California autonomous car startup company Udelv announced it is teaming up with Walmart to offer its self-driving vans for deliveries, according to a report in VentureBeat. Level 4 is known as high automation, where the car can operate without human input but only under select conditions, defined by factors like road type or location.

Las Vegas 116

Las Vegas Nevada Arizona United States 116

PYMNTS

JUNE 14, 2016

Regardless of your opinions on its legality, daily fantasy sports gave rise to a boom market in digital transactions like most startups only dream about. However, after a few months of rough waters, it seems like the two biggest names in the daily fantasy market are pulling out all the stops to restart the engine. and FanDuel Inc.

New York 100

New York California Resources Regulation 100

PYMNTS

JANUARY 28, 2019

Yes, I know that for many of you, especially in California, this is old news and standard operating procedure – but hear me out. The card networks left it up to the states to decide whether or not to allow its operating merchants to do so. And then regulators are forced to backtrack. Yet the bad behavior persisted.

Regulation 181

Regulation Boston Cards Innovation 181

PYMNTS

JULY 10, 2020

Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. Regulation Vs. Market Forces. Cohen said.

Data 272

Data Innovation Fintech Illinois 272

PYMNTS

APRIL 2, 2019

The legal cannabis market continues to reach new milestones, the latest being the launch of the industry’s first commodity trading desk — with the latest service provider highlighting the opportunity in addressing the more nuanced challenges of an unfamiliar, emerging market.

Fintech 176

Fintech Compliance Industry California 176

PYMNTS

MAY 7, 2020

Kindred Group operates the online casino and sportsbook service Unibet. Kindred Group, which also supports gambling platforms in Europe and Australia, has been operating its Unibet brand in New Jersey and Pennsylvania for about a year. payments market is behind that of Europe, but U.S. The client expectations in the U.S.

Online 142

Online New Jersey Pennsylvania Regulation 142