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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

Group Seeks to Block Maryland Online Advertising Tax. At issue is the eCommerce retailer’s parallel responsibility to third-party merchants as an online shopping ecosystem and to itself as a competitor on the platform with rival products. Maryland legislators ratified the tax earlier in 2020, but Gov.

Maryland 151
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What The Streamlined Sales And Use Tax Agreement Means After Wayfair

PYMNTS

Wayfair ruling have made tax compliance challenges highly visible. Struggles to understand and fulfill tax obligations are not new — states have worked for decades to manage these compliance difficulties. The court did cite South Dakota’s SSUTA membership when allowing South Dakota’s online sales tax law to stand.

Taxes 141
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Why State And Local Governments Struggle To Shred The Paper Check

PYMNTS

Governments at the state and local level are having trouble meeting this need, however, as they must also balance regulatory compliance standards against the desires of their in-state residents. Online payments are taking small steps forward for several government agencies at the federal level as states examine their potential benefits.

Idaho 130
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CFPB issues annual fair lending report

CFPB Monitor

Small business lending—assessing whether there are disparities in application, underwriting, and pricing processes, redlining, and whether there are weaknesses in fair lending-related compliance. Student loan origination—lender’s policies and practices in underwriting or pricing.

Lending 148
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36 State Attorneys General settle with CarMax over non-disclosure of open safety recalls

CFPB Monitor

Any vehicles sold online, including through www.carmax.com or the CarMax mobile app, must also clearly and conspicuously disclose on the first page of the overall description of the vehicle or vehicle history report that the vehicle may be subject to an open recall for safety issues that have not been repaired.

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Sizzle Or Fizzle: Facebook, Online Lending, Cash – And The Twilio Surge

PYMNTS

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending . Costco Card.

Lending 101
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Keeping Investment Platforms Free From Fraudsters

PYMNTS

George’s company, WellCity, marketed itself as a social media network for the health and wellness marketplace run out of Brentwood, Tennessee. PYMNTS recently caught up with Anthony Couture, the firm’s chief compliance officer, to discuss how it balances keeping investors and entrepreneurs safe from fraud with a friction-free experience.

Tennessee 108