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Illinois Legislature Passes New “All-In” Finance Charge Cap

CFPB Monitor

On January 13, 2021, the Illinois legislature overwhelmingly passed SB 1792 (the “Act”), intended to, among other things, overhaul the state’s consumer finance laws. SB 1792 separately amends the Illinois Consumer Installment Loan Act and the Payday Loan Reform Act to apply this same 36% MAPR cap.)

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New Research Shows 100K+ SMBs Won’t Recover From COVID-19 Pandemic 

PYMNTS

The average business has in excess of $10,000 in monthly expenses and barely enough cash on hand to survive a month, according to the National Bureau Of Economic Research ( NBER ). Researchers at the University of Illinois, Harvard Business School, Harvard University and the University of Chicago surveyed more than 5,800 SMBs May 9 to 11.

Illinois 144
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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

PYMNTS

The services are not currently registered as distinct entities, although they are provided to users in the nation. The eCommerce retailer has reportedly registered many entities in the country in recent times. Its members include The New York Times and National Geographic , among others.

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A ‘Diaper’ By Any Other Tax Code: The Complexities Of Selling Across State Tax Laws

PYMNTS

Even the ways retailers package their items can make a difference in their taxes. This month’s Next-Gen Sales Tax Tracker examines these compliance complexities and their impact, as well as ongoing efforts to streamline how retailers can fulfill their obligations. Easing tax compliance helps governments and retailers alike.

Taxes 130
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Amazon (And Others) Brace For India’s New eCommerce Tax

PYMNTS

To get a sense of how the impact may accrue to smaller sellers, Kumar Rajagopalan, CEO of Retailers Association of India (RAI), told Rediff.com that the tax can “create a cash flow situation for genuine sellers, too. The settlement was disclosed in the company’s latest quarterly earnings results, reported by The New York Times.

Taxes 175
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Instacart Rolls Out Delivery Service With Costco For Prescriptions

PYMNTS

The offering is now available from almost 2,000 stores in California, New York and Illinois, among other states, with plans to grow throughout the country in the months to come, according to an announcement. As it stands, Instacart partners with over 350 local, regional, and national retailers to provide delivery from over 25,000 stores.

Illinois 161
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Medical Cannabis Co Columbia Care Launches Credit Card

PYMNTS

is launching the Columbia National Credit program with its new CNC Card, according to a release by the company. The program will expand to Delaware and Pennsylvania later in June and then into Arizona and Illinois. Columbia Care, a medical cannabis company that has licenses in 15 jurisdictions in the European Union and the U.S.,

Cards 128