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Illinois SMBs Face Tighter COVID-19 Restrictions

PYMNTS

With COVID-19 cases rising in Illinois, operators of small- to medium-sized businesses (SMBs) in heavily populated areas face new shutdowns — measures likely to be all the more painful economically because of looming winter weather that will make options such as outdoor dining unattractive, The Wall Street Journal (WSJ) reported.

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Illinois regulator issues FAQs on Predatory Loan Prevention Act and notice on database reporting

CFPB Monitor

The Illinois Department of Financial and Professional Regulation (DFPR) has issued Predatory Loan Prevention Act Frequently Asked Questions (PLPA). The bill containing the PLPA also amended the Illinois Consumer Installment Loan Act (CILA) and the Payday Loan Reform Act (PLRA) to apply this same 36% MAPR cap.).

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Illinois regulator issues proposed Predatory Loan Prevention Act regulations; lawsuits filed to block implementation of Act’s database reporting requirement and for declaration Act does not apply to pawn transactions

CFPB Monitor

In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”.

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FTC Shuts Down Debt Collector as Part of “Operation Corrupt Collector”

CFPB Monitor

A Georgia federal district court has entered a temporary restraining order against a Georgia-based debt collection operation in response to a complaint filed by the Federal Trade Commission. In addition to the FTC’s actions, Operation Corrupt Collector includes two cases filed by the CFPB, three criminal cases brought by the U.S.

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North Lane, daVinci Payments Finalize Merger; Form Syncapay

PYMNTS

They now operate together under the Syncapay brand umbrella via a holding firm created with a new majority equity investment from funds that Centerbridge Partners advises, according to the announcement. 10) announcement.

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Big Tech Compliance Tracker: Facebook Hints At EU Pullout Over Data Transfers Laws; Appeal Filed Over Apple’s $15B Tax Bill On Ireland Operations; In-App Billing Battle Rages On

PYMNTS

In a case that’s being closely, quietly observed by the eCommerce and legislative worlds, NBC Chicago reported last week that “following a $650 million settlement in a lawsuit filed against social media giant Facebook, Illinois residents who have accounts with the website can now file claims for payouts potentially ranging from $200 to $400.”

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DraftKings’ Monthly Unique Payers Surges 64 Pct Amid Rise In Gaming 

PYMNTS

13) as part of its Q3 results that Monthly Unique Payers (“MUPs”) for its business-to-consumer (B2C) operation surged 64 percent in contrast to Q3 2019. DraftKings rolled out iGaming in West Virginia and mobile sports betting in Illinois in Q3. In a sign of a continued rise in gaming amid the pandemic, DraftKings Inc.