CFPB Monitor

MARCH 15, 2022

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).

California 78

California Innovation Utah West Virginia 78

CFPB Monitor

JANUARY 12, 2021

The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021. The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB.

Exercises 127

Exercises California Innovation Financial Technology 127

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

Regulation 175

Regulation Data Regional Examples 175

CFPB Monitor

FEBRUARY 5, 2021

Yesterday, the California DFPI issued an invitation for stakeholders to provide input on rulemaking to implement the recently-effective California Consumer Financial Protection Law (CCFPL). Exemptions – Whether regulations should be issued to clarify the scope of exemptions. Comments are due by March 8, 2021.

California 78

California Los Angeles Regulation Resources 78

PYMNTS

DECEMBER 9, 2020

And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. His comments come at a time when California is arguably taking the lead in consumer data privacy protections. The company, he told PYMNTS, has been able to verify several hundred applicants every minute.

Regulation 234

Regulation Security Data Course 234

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

CFPB Monitor

OCTOBER 6, 2022

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.

California 78

California FDIC Analysis Utah 78

PYMNTS

SEPTEMBER 9, 2019

The issue has been a contentious one since the California State Assembly passed the controversial bill earlier this year. But California’s state courts saw the issue somewhat differently. The AB 5 has passed the California State Senate’s Appropriations Committee and is now set to move to the floor for a full vote.

California 121

California San Diego Los Angeles Sacramento 121

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

PYMNTS

AUGUST 15, 2018

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. The California Court Loss.

Lending 101

Lending California Marketing San Francisco 101

Current

DECEMBER 9, 2020

California unemployment benefits could help to see you through until your next job arrives. But signing up for California unemployment benefits can seem like a job in and of itself. In 2020, California unemployment benefits were critical for many people. In May 2020, for example, California's unemployment rate was 16.3%.

California 52

California Taxes Online Meeting 52

PYMNTS

JANUARY 12, 2020

The decision — the latest blow to the rideshare company — comes after protests from Colombian taxi drivers that Uber was breaking the rules of the country’s taxi market. Colombia was not Uber’s largest market, with only about 88,000 drivers and 2 million customers.

Regulation 146

Regulation Operations Company Marketing 146

CFPB Monitor

FEBRUARY 21, 2019

A bill introduced last week in the California State Assembly could change the consumer lending landscape in California considerably. The CFL provides certain factors to determine whether a loan is of a “bona fide principal amount” or if there has been some artifice to evade regulation under the CFL.

California 68

California Regulation Lending Security 68

PYMNTS

OCTOBER 12, 2020

Revolut's bank charter will be with California, but it will allow the bank to operate anywhere in the U.S., The nature of the market for FinTech startups breaking into the larger U.S. million losses total, with the company saying that happened because of expansions into new markets and debuts of new products.

San Francisco 268

San Francisco Wyoming US Utah 268

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. 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

NOVEMBER 23, 2020

A recent report released by the United Nations found that 132 out of 194 countries have now introduced data protection regulations of some kind, all varying in terms of what type of information they protect and the severity of their restrictions. Meanwhile, other markets are continuing to adjust with their own data protection laws.

Industry 298

Industry Regulation Data Study 298

Perficient

JANUARY 7, 2021

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. There are also some other things that should be communicated to consumers.

Marketing 309

Marketing Industry Mobile Massachusetts 309

PYMNTS

FEBRUARY 11, 2020

Mastercard Gets Nod To Join China’s $27T Payments Market. China approved Mastercard for a bank card clearing business with its partner, NetsUnion Clearing Group, giving the company access to a $27 trillion payments market. A judge rejected a request by Uber and Postmates to stop new California regulations on gig economy workers.

Marketing 150

Marketing Payments Retail California 150

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. On Friday of last week (Dec. As of now, only motor vehicle manufacturers can operate self-driving car networks in Michigan.

Michigan 100

Michigan Regulation Florida 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. But Clearinghouse CDFI can also offer interesting insight into the state of regulation of small business lending and how greater oversight may impact the SMEs that prop up their local communities.

Regulation 100

Regulation Lending Community California 100

PYMNTS

DECEMBER 19, 2019

1, the California Consumer Privacy Act will give people control over the personal information companies collect, store and share, the Associated Press reported on Wednesday (Dec. The law concerns companies that conduct business in California and includes out-of-state companies that sell to California. Starting Jan.1,

California 130

California US Data Regulation 130

TheGuardian

MARCH 14, 2023

Probes announced in the UK and US over failure of California lender as financial markets recovered from Monday’s turmoil Inquiries into the collapse of Silicon Valley Bank (SVB) and its UK arm have been announced in Britain and America, as financial markets settled and banking shares recovered from Monday’s turmoil.

California 58

California America US Regulation 58

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 Retail California 128

PYMNTS

FEBRUARY 27, 2020

Ripple failed to persuade a judge in Oakland, California to dismiss the entire lawsuit, called Zakinov v. Ripple has argued that the case, were it to go forward, would upend and threaten to destroy the established XRP market, which has involved over $500 billion in trading over the last several years. Ripple Labs Inc though U.S.

Oakland 151

Oakland California Fraud New York 151

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. The company has emerged as a dominant player in the nation’s digital advertising market. states and the DOJ.

social media 160

social media California Google Apple 160

PYMNTS

JANUARY 2, 2020

Sezzle — a “buy now, pay later” (BNPL) company based in Minnesota, but listed in Australia — was denied a crucial lending license from California. Afterpay released a statement confirming approval of its own California lending license six weeks ago, upping its shares by 4.6 The company offers U.S. ”

CA 130

CA Lending California Minnesota 130

PYMNTS

JANUARY 14, 2021

Our office continues to aggressively monitor this market to protect fair competition for consumers, authors, and other eBook retailers,” Mr. Tong said in a statement, per WSJ. Amazon had a 76 percent market share of all eBooks sold in the U.S. in September, according to Codex Group data, per the WSJ.

eBook 174

eBook Connecticut North Carolina Nebraska 174

PYMNTS

MAY 8, 2019

Federal Trade Commission (FTC) is eyeing tighter scrutiny of small business lending practices as Commissioner Rohit Chopra calls on the regulator to combat predatory SMB loan contracts, reports in Bloomberg said on Wednesday (May 8). Chopra spoke at an agency forum in Washington, D.C., Chopra spoke at an agency forum in Washington, D.C.,

Lending 152

Lending Regulation Washington California 152

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

AUGUST 14, 2020

The Privacy Collective , a London nonprofit whose mission is to protect privacy, has filed suit with the District Court of Amsterdam, accusing the software companies of breaching the European Union’s General Data Protection Regulation (GDPR) in their processing and sharing of people’s information by third-party tracking cookies.

San Francisco 195

San Francisco Software Data California 195

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

JANUARY 22, 2021

In the Land Down Under, the ripple effects of the clash between regulators and a giant in online search (that would be Google , of course) may be such that consumers are left searching for search. According to Statista , Google has almost 90 percent market share in Australia. The tightrope is a tough one to walk.

Google 188

Google Texas New York California 188

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

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. Both Alabama and California are not participating in the probe.

Google 151

Google Puerto Rico Data Alabama 151

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

NOVEMBER 5, 2020

pension fund, can sue over Cook's 2018 comment that while the iPhone was facing sales pressure in some markets, China was not among them. The lowered forecast was the first one Apple reported since its 2007 launch in Cupertino, California, and shares fell 10 percent the next day, wiping out $74 billion in market value.

Apple 145

Apple California Regional Report 145