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Today In Retail: L’Occitane’s US Division Files For Chapter 11; AutoFi Rolls Out Division For Corporate Clients

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Plus, a new Federal Reserve Bank of New York study finds that individuals anticipate that the economy will rebound by next year. division has filed for Chapter 11 bankruptcy in New Jersey. A new Federal Reserve Bank of New York study indicates that individuals foresee the economy will rebound by 2022.

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SBA Struggling To Meet Demand For Relief Loans

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So far, $50 billion across 178,000 loans have been approved according to Larry Kudlow, the director of the National Economic Council. Lenders are struggling to get applications across the SBA’s online system, which went down altogether on Monday (April 6). Further, community banks are nearly out of cash.

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Popular Bank’s Commitment to Our Customers and Communities

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Dear Customers, Partners and Community Members, Thank you for being part of our Popular Bank family. In these uncertain times, we are all working together to navigate our new normal. While these are unprecedented times, our long-standing commitment to you and our communities has prepared us well.

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Macy’s Continues Testing Of Lockers

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While lockers are often associated with Amazon and Whole Foods , Macy’s has been using lockers for a buy-online-pickup-in-store program. The retailer is continuing to test the lockers through an installation at a New Jersey store per a tweet from a Fortune writer, industry news source Chain Store Age reported.

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Widening Borrower Protection’s Scope To SMBs

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Borrower protection initiatives have taken aim at predatory lenders, both online and brick-and-mortar, with legislators at the state and federal levels addressing concerns that include a lack of transparency and sky-high fees and interest rates. small businesses had sought a loan online, compared to just 19 percent that did so in 2017.

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Widespread Corporate Hacking Lands Two Russians In Prison

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Two Russian nationals have been handed prison sentences for their roles in hacking corporates and financial institutions (FIs) in the U.S., The two were part of a larger group that stole online credentials, personal information and credit and debit card numbers between 2005 and 2012. Bloomberg reported this week. While the U.S.

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Food Stamps Online: The $75B Grocery Game-Changer?

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SNAP online . The USDA is in the process of rolling out a pilot program that will allow SNAP program enrollees to buy groceries online. We’re looking forward to being able to bring the benefits of the online market to low-income Americans participating in SNAP.”. Is there any way out of that?

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