article thumbnail

Colorado passes 36% payday loan rate cap

CFPB Monitor

By an overwhelming vote (approximately 1,4270,000 million to 433,000), Colorado voters passed Proposition 111, a ballot initiative that places a 36 percent APR cap on payday loans. According to American Banker, the passage of Proposition 111 makes Colorado the fifth state to impose rate caps on payday loans through a voter referendum.

article thumbnail

Legal Cannabis Retail Innovates Its Way Around Payments Knot

PYMNTS

Legal marijuana may have a massive payments problem, but that’s not stopping retail innovation in perhaps the newest area of legitimate commerce in the U.S. It’s not even a back door, it’s more like an upper window,” Jeremy Skaff of Colorado-based Journey Business Solutions told the newspaper. Big Retail. and Canada.

Retail 121
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Retail Reopening Precautions Spell The End Of ‘Walk-Ins’

PYMNTS

Retailers are opening their doors again during the pandemic to customers who have appointments. In Colorado, Blush Beauty Bar opened for appointments again, marking the first occasion that clients have been able to enter the business in nearly 50 days. Call it the end of the walk-ins. At least for now.

Retail 151
article thumbnail

JD Sports Purchases California-Based Shoe Palace

PYMNTS

Also, the Mersho Brothers, who operate Shoe Palace, have been issued equity in Genesis so that they will have 20 percent ownership of the enlarged group in the U.S. The chain currently has 167 retail locations, most of them operating under the Shoe Palace flag. 31, 2019, according to the announcement.

article thumbnail

The Rise Of Organized — And Disorganized — Crime In Physical Retail

PYMNTS

What makes the story stand out among the reams of local retail crime reporting is that the crime was actually committed. Botched crimes in local retail are common. In Colorado last week, police managed to arrest the same man for three attempted car thefts — two of which happened on the same night on the same block.

Retail 147
article thumbnail

Legal Cannabis Retail Rides A Wave Of Revenue Growth

PYMNTS

In a way, watching the emergence of legal retail marijuana in North America is like watching someone grow up. Not really a toddler or baby — even black-market sale of recreational and medicinal pot took on many traits of legitimate retail — but more like a once gawky teenager growing into a graceful, confident person. and Canada.

Retail 109
article thumbnail

Retail Pulse: Amazon Grows 4-Star Footprint; Forever 21 Files For Bankruptcy

PYMNTS

Online retailers are expanding their brick-and-mortar footprints – and using feedback from eCommerce customers to inform the selections in their new stores. A data team from the eCommerce retailer determines what is sold at the locations, Amazon Physical Stores Director Drew Sheriff told MetroWest Daily News.

Retail 109