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Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

CFPB Monitor

The Order also directs SoLo to stop enforcing loans made to Connecticut residents and make restitution of any amounts it obtained in connection with such loans together with interest. Some Connecticut borrowers were assessed a late fee equal to 15% of the principal loan amount, which was generally split equally between the lender and SoLo.

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Regional Banks Guide Corporates To Future-Proof Accounts Payable

PYMNTS

As many teams within businesses big and small had continued to rely on paper and manual processes, AP operations were tasked with migrating to a work-from-home environment quickly. Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic.

Regional 214
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CardX CEO: Ban On Card Surcharge Ban May Lead to Lower Interchange Fees

PYMNTS

Razi, whose firm offers payments technology that automates compliance with rules for card surcharging, said that with the decision in the New York case, bans on the bans (so to speak) in the aforementioned states cover 40 percent of the U.S. population.

Cards 125
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The Digital Evolution Of The Online Gaming Ecosystem

PYMNTS

In a microcosm of the national expansion, New Hampshire’s newly online sports gambling program raked in $2.31 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.

Online 134
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Data privacy: How to keep customer data safe

Independent Banker

But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. The need to keep operating systems and other applications current with software security patches and updates.

Data 91
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Banks Fight Back Against ‘Fake Grandchild’ Scammers Who Target Seniors

PYMNTS

That might not seem much in a nation with some 50 million people over the age of 65, but that number of reported cases is double what it was five years ago, according to the federal agency. Treasury Department tell the main story: Banks in 2018 reported 24,454 suspected instances of elder financial abuse. Expanding Pool of Potential Victims.

Fraud 187
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11 New Restaurant Concepts Reimagining Fast Food & Casual Dining

CB Insights

The old guard of American dining are switching up their games to compete: McDonald’s is adding self-serve kiosks to many of its franchises, upping the ante with mobile order technology. In 2017, the National Restaurant Association reported annual sales of $799B — close to 48% of the total amount that Americans spent on food.