4 takeaways from Michael Barr’s DC Fintech Week speech

Payments Dive

The Federal Reserve’s vice chair for supervision stressed caution for banks’ ties to crypto and spotlighted how stablecoins differ from other digital assets

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DC Bar: Lawyers Allowed To Take Digital Currency As Payment


Washington D.C. Cryptocurrency attorneys cryptocurrency District of Columbia Bar lawyers legal fees News washington D.C. lawyers will be allowed to accept cryptocurrency as payment, according to an opinion by the District of Columbia Bar.

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Trending Sources

DoorDash Ordered To Cut DashPass Commissions By DC Attorney General


While DashPass is a premium marketing offering and provides benefits to many restaurants, we have decided to not charge DC restaurants their contractual DashPass rate at this time. The attorney general of the District of Columbia, Karl Racine, has written a letter ordering DoorDash Inc.

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Zuckerberg Visits DC To Talk Tech Laws With Senators  


Facebook CEO Mark Zuckerberg had dinner with several senators in Washington D.C. Facebook Big Tech Capitol Hill laws News privacy regulations Senators washington D.C. during a rare visit to Capitol Hill that comes on the heels of rising scrutiny over the company’s business practices, CNBC reported on Thursday (Sept. A spokeswoman for Sen. Mark Warner (D-Va.) said on Wednesday (Sept.

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Amazon Toured Sites In Washington, DC, Area Last Week


Washington, D.C., According to news from The Washington Post , Amazon officials toured locations in Washington, D.C., The report noted there are nine or more sites in the D.C. Meanwhile, D.C. Bowser (D) dined with Amazon representatives on Wednesday night, proposing four, fast-growing neighborhoods in Washington, D.C. Amazon e-commerce employment headquarters Merchant Innovation News Retail washington dc What's Hot

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Amazon Opens Bookstore In DC


Betting that its popularity with shoppers online will translate into brick-and-mortar customers in Washington, D.C., The opening is the eCommerce retailer’s first bookstore in the Washington, D.C., Amazon opens an Amazon Books location in the nation’s capital. The store occupies a space that formally housed a Barnes & Noble store in Georgetown, The Washington Post reported.

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Solar-Powered eScooters Coming To DC


Spin and Swiftmile are launching a pilot program in Washington, D.C. Benjamin Fong, Spin’s director of business development, revealed that 40 solar-powered docking stations, built by Swiftmile, will be placed in Washington, D.C. The stations are currently only compatible with scooters from Spin, which has around 650 scooters in Washington, D.C. cities (and campuses), including Washington, D.C., and Ann Arbor, MI, to test out an eScooter program.

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Facebook Negotiates Sandberg DC Hearing Testimony


The news comes as Mark Zuckerberg , Facebook’s chief executive officer, concluded three days of discussions this month with movers and shakers in Washington, D.C. With questions surrounding Facebook ’s market power and its plans for the Libra digital currency, the social media company is reportedly negotiating with an important congressional committee for COO Sheryl Sandberg to testify as early as October.

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DC AG Is Suing DoorDash Over Tipping


Washington, D.C. Attorney General Karl Racine is suing popular delivery company DoorDash, saying the company didn’t adequately distribute tips nor did it retroactively pay back those tips when its practices were changed, according to a report by TechCrunch. . The investigation into the tipping practices of DoorDash was started in March of this year.

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EagleBank (DC Metro Area) Boosts 9-Month CD To Competitive Level


EagleBank (Washington, D.C. metro area) recently boosted the rate on its 9-11 month CD. Minimum opening deposit is $1k and must be opened in-branch

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Federal DC Court Overturns Closed-End Loan HMDA Reporting Threshold

CFPB Monitor

In April 2020, the CFPB issued a final HMDA rule increasing the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans from 25 covered loans originated in each of the prior two years to 100 covered loans originated in each of the prior two years.

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Today In Payments: Facebook Calls Out Apple; DC AG Sues Instacart


In today’s news, Facebook called out Apple on its fee structure and transparency, and D.C.’s DC AG Sues Instacart Over Fees Customers Thought Were Tips. s attorney general is suing Instacart for pocketing tips meant for drivers.

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DC Attorney General Sues Facebook Over Data Collection


Prosecutors in Washington, DC, are suing Facebook over stolen user data related to the Cambridge Analytica scandal, according to reports. The DC attorney general’s (AG) office announced the lawsuit on Wednesday (Dec. The maximum penalty is $5,000 per violation, and prosecutors said 852 people in Washington, DC, downloaded the app.

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Andreessen Horowitz Fights Back Against DC’s Crypto Curbs


Venture capital firm Andreessen Horowitz is attempting to fight back against Washington’s tougher stance on cryptocurrencies. As the firm aims to boost its crypto investments, it hosted officials from the Treasury Department, as well as a number of Washington’s regulatory agencies, at a full-day, private conference in San Francisco in late May, according to The Wall Street Journal.

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Facebook Shares Fall 7.3 Pct Post-DC Lawsuit


As for the lawsuit, Facebook could potentially be facing a maximum penalty of $5,000 per alleged violation, and prosecutors said 852 people in Washington, D.C. With the news of a lawsuit against Facebook (FB) by prosecutors in the District of Columbia, the social media company’s shares slid significantly on Wednesday (Dec. 19), according to Bloomberg. The shares dropped by about 7.3 percent, which put Facebook on track with its historic one-day 19 percent drop earlier this year.

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After chaos in D.C., fintechs find a path to normalcy

Payments Source

History will remember Wednesday for the anti-democracy domestic terrorism that resulted in death, injuries and damage inside the U.S. Capitol — but did not thwart the process of confirming the presidential election.

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USDA?s SNAP Benefits Can Used In 25 States, DC To Buy Groceries From Amazon


That list brings the total number of states where these benefits are available up to 25 along with Washington DC, with more states to come soon, the company said.

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Retail Pulse: Framebridge Opens DC Store; Starbucks Hits 30,000-Location Milestone


Custom eCommerce framing startup Framebridge is opening its own in Washington, D.C., The D.C. Online brands are stepping into the world of brick-and-mortar, opening their own physical locations to help consumers experience their concepts in real life with the help of digital technology. and Bethesda, Maryland, that will work to mirror the company’s online experience.

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FTC settles action against D.C.-area auto dealer group over illegal fees and discrimination allegations

CFPB Monitor

On October 18, 2022, the Federal Trade Commission (“FTC”) announced a settlement with a Washington, D.C.-area

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Walmart Pay Launches In 16 States, DC


As of today, Walmart Pay is available in: Virginia, North Carolina, South Carolina, Nebraska, North Dakota, South Dakota, Iowa, Tennessee, Kentucky, Michigan, Indiana, Alabama, Georgia, Louisiana, Missouri, Mississippi and Washington, D.C. “We The retail giant’s payment method is finally here.

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The Most Important Development in DC Last Week

New York's State of Mind

While the Supreme Court sucked-up all the oxygen in the political universe last week, there are a couple of important regulatory developments that I wanted to highlight for you. Most importantly, it appears that the CFPB might be putting on the breaks when it comes to imposing restrictions on overdraft fees. As summarized by the […]. Compliance Regulatory Card Act Late Fees overdraft fees

D.C. emergency and temporary legislation limiting collection activities to take effect September 23, 2021

CFPB Monitor

During D.C.’s Since a permanent version of these bills, B24-0357, remains in the Council, the bills signed by the Mayor on September 1 only temporarily amend various provisions of D.C. 28-3814, D.C.’s In the District, during a public emergency, the Mayor and the D.C.

D.C. Department of Insurance, Securities and Banking issues bulletin on money transmission

CFPB Monitor

In Harmon , the court noted that the D.C. Money Transmitters Act of 2000 (“MTA”), D.C. On August 8, 2022, the District of Columbia Department of Insurance, Securities and Banking (the Department”) issued a Bulletin on money transmission (the “Bulletin”).

Zuckerberg To Visit DC To Discuss Internet Regulations


Facebook CEO Mark Zuckerberg is set to testify on Capitol Hill once again. Zuckerberg is scheduled “to meet with policymakers and talk about future internet regulation” on Thursday (Sept. A spokesperson for Sen. Maria Cantwell of Washington confirmed she met with Zuckerberg on Wednesday evening, according to CNBC.

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Subprime consumer lender Elevate settles with D.C. authorities

American Banker

Consumer lending Interest rates

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High-cost lender reaches $2 million settlement with D.C. authorities

American Banker

Consumer lending Litigation Regulation and compliance

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Affordable housing becomes flashpoint in D.C. spending showdown

American Banker

Affordable housing Politics and policy

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D.C. power shift complicates Fed decision on capital rule

American Banker

The industry wants regulators to extend a temporary measure making it easier to satisfy the supplementary leverage ratio. But Democrats’ control of the White House and Congress has given a bigger platform to those who say banks have had enough relief.

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NAC visits DC lawmakers in effort to keep cash alive

ATM Marketplace

The National ATM Council has wrapped up its third annual Washington D.C. fly in. The two-day lobbying event included nearly 60 meetings with lawmakers and their staff

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Smart Card Alliance opens Washington, DC-area training center

Payments Dive

The National Center for Advanced Payments and Identity Security in Crystal City, Virginia, will be a permanent facility for live educational activities hosted by SCA

Two small banks seek bigger stages with Nashville, D.C. deals

American Banker

Community banking M&A Growth strategies

Banking groups suspend political donations after D.C. riot

American Banker

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

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Sign of fintechs' evolution: Two new D.C. trade groups

Payments Source

The American Fintech Council and the Financial Technology Association say they’ll promote responsible innovation, fair access to financial services and more. Their dozens of members include some of the biggest names in fintech. ]]. Digital banking Fintech Consumer banking

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CECL stirs D.C. concerns

ABA Community Banking

Regulators concerned about banks hiring third-party vendors to handle it Management Lines of Business Risk Management Credit Risk. 1Risk Management

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PayPal parts ways with site that helped send people to D.C.

Payments Source

PayPal Holdings Inc. and GiveSendGo have parted ways after the Christian crowdfunding site helped raise funds for people who attended last week’s violent event in Washington. Compliance PayPal

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