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New Study Suggests Online Lenders Target Vulnerable Consumers

PYMNTS

The Federal Reserve Bank of Cleveland issued new research on the online lending market showing that borrowers end up in more debt than consumers who don’t utilize this method of borrowing. The researchers used data from TransUnion for the study, pinpointing 90,000 borrowers who took out online loans from 2007 to 2012.

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Virginia Sues Online Lender Over Consumer Loans

PYMNTS

Virginia is suing one of the largest online lenders in the U.S. Its parent company, Enova International, reportedly spent more than $100 million in 2017 for marketing. In the newspaper’s story, Attorney General Mark Herring advocated for stronger laws to “protect Virginians from predatory loans, whether issued online or in person.”.

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Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Digital dollars could make the leap from concept to reality, but there might be a few ways to get there.

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Is ‘Embedded Regulation’ The Key To Stablecoins’ Success?

PYMNTS

Among the potential and evolving use cases: private stablecoins can conceivably be adopted as a means of payment for online purchases, peer-to-peer and micro-payments and a range of potential future. Bitcoin and other offerings have not yet evolved into real alternatives to sovereign monetary activities, but stablecoins present challenges.

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Warehouse Space Going For Premium Rates

PYMNTS

Brick-and-mortar merchants are far from being free from the problems that plague their particular brand of retail, but even they have to look at online retail rising rents for warehouse space with a little bit of mirth. Of the 57 major retail markets studied, 37 of them posted decreases to warehousing availability.

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PYMNTS Daily Data Dive: China’s Cross-Border Ecommerce A Huge Opportunity for Entrepreneurs

PYMNTS

The trends in the Chinese cross-border ecommerce market represent a huge opportunity for small businesses, according to Cleveland Brown, CEO of Payscout, a global payments provider. 1 trillion | The predicted value of the global B2C ecommerce market in 2020; this figure was $230 billion in 2014, according to Payscout.

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Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Greater Cleveland Community Credit Union. This year has been a busy one for Google Pay, as it tries to gain prominence in a crowded market with competitors like Apple Pay , Samsung Pay and even Walmart Pay. The system lets customers make online or in-store payments, all using the mobile app. Community Bank of the Bay.

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