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Restaurant Operators On Life Before, During And After COVID-19

PYMNTS

Restaurants are tough businesses to operate, even in the best of times — 60 percent fail within their first year, and 80 percent within their first five. Yi said the impact of COVID-19 caught Zoku Sushi “completely flat-footed” by the nearly overnight shutdown that came to its base of operations in Midtown Manhattan. They went home.

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Connecticut federal court allows CFPB claims to proceed against mortgage company and principals for alleged licensing and other violations

CFPB Monitor

A Connecticut federal district court has refused to dismiss claims filed by the CFPB against a mortgage company and three of its principals for alleged Truth in Lending Act (TILA), Mortgage Act and Practice (MAP) Rule, and Consumer Financial Protection Act (CFPA) violations.

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New Bank TNB USA Sues The Fed

PYMNTS

A new bank, launched by one of the Federal Reserve’s own, is now suing the Fed of New York , accusing the regulator of preventing the bank from moving forward with its business plans. based in Connecticut, is suing the Fed for its inaction on an application to open an interest-bearing account at the New York Fed. percent.

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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

Multifamily, commercial and automotive loans are driving loan growth among banks in the Northeast, but increasing risk will draw fresh attention from regulators to ensure recent and future growth is sound, the Office of the Comptroller of the Currency said recently. The OCC on Oct. The OCC on Oct. percent as measured on June 30 of this year.

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FTC Takes Fresh Aim At Big Tech — And Its Previous Mergers

PYMNTS

technology markets, investigating any potential anti-competitive conduct in those markets, and taking enforcement actions when warranted.”. billion antitrust fine over what the EU called an abuse of the Android operating system. Federal Trade Commission (FTC). This serves as another signal among many that, in the U.S.

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The Digital Evolution Of The Online Gaming Ecosystem

PYMNTS

Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”. The betting platform – which is managed via DraftKings, which won the competitive bid for the project – has been operating since late December, and saw a spike in activity over the weekend.

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CardX CEO: Ban On Card Surcharge Ban May Lead to Lower Interchange Fees

PYMNTS

As noted in this space by Karen Webster, the ban on the ban – where, now, in New York, surcharges are allowed when merchants post total prices for transactions – shows the inefficiencies of regulation that supersede card networks’ own rules governing merchant activities. population.

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