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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.

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Santander Gets Hit With Fine Due To Overdraft Practices

PYMNTS

Santander is a national bank based in Wilmington, Delaware, and operates a network of close to 700 retail branch offices in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island.

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Ohio Lottery Makes A New Bet on Mobile

PYMNTS

Not only do gift cards stand as the most popular holiday present, according to the National Retail Federation and other sources, but a Blackhawk Network survey found that “44 percent of consumers surveyed are interested in receiving a gift card to play the lottery, while 43 percent would be interested in giving a lottery gift card.”.

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Connecticut Banking Dept. takes no-action position on new demographic data reporting requirement for sales finance companies

CFPB Monitor

In our blog post, we highlighted a new requirement (which appeared to be unprecedented), for sales finance companies to acquire and maintain information about the ethnicity, race, and sex of applicants for motor vehicle retail installment contracts. Miss, Mr. or Mrs.]). . Miss, Mr. or Mrs.]).

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Significant changes to Connecticut consumer finance licensing laws to take effect October 1, 2018

CFPB Monitor

Of particular note is a new requirement (which appears to be unprecedented), for sales finance companies to acquire and maintain information about the ethnicity, race, and sex of applicants for motor vehicle retail installment contracts. See 12 C.F.R. Miss, Mr. or Mrs.]). . Miss, Mr. or Mrs.]).

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Partnerships, Pivots And Bookended Data Breaches

PYMNTS

Marcus’ focus will be offering small consumer loans — an area Goldman Sachs has has traditionally avoided but has been pushed toward in recent years as new regulations have forced many venerable Wall Street institutions to think out of the box about revenue streams going forward. and Canada.

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