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California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” The DOB indicated that such loans have interest rates greater than 90 percent.

Utah 78
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Amazon Plans Whole Foods Expansions In Closed Sears Stores

PYMNTS

For example, Whole Foods managers went to a site in Utah that used to be a Kmart. Right now, Whole Foods has about 470 stores around the nation – which isn’t much considering the proliferation of Walmart and Kroger stores, but it now has the capital to expand into previously unreachable areas, like Montana.

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Outdoorsy Makes Happy Campers Out Of RV Owners And Renters

PYMNTS

That’s the market summary Outdoorsy Co-founder and CEO Jeff Cavins gave to PYMNTS' Karen Webster on the status of his RV rental platform, which’s about to cross the billion-dollar bookings milestone in only its fifth year in business. There is no Airbnb in Grand Canyon National Park. There is no Hilton in Yosemite.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

The rules provide that a loan made by a national bank, federal savings association, or federally-insured state-chartered bank that is permissible under applicable federal law (Section 85 of the National Bank Act (NBA) or Section 27 of the Federal Deposit Insurance Act (FDIA)) is not affected by the sale, assignment, or other transfer of the loan.

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Zions Bancorporation goes live on TCS BaNCS Core Banking software

Bobsguide

The TCS BaNCS deployment provides Zions a parameterized, US market compliant, real-time solution, sets up Zions to go Digital, be nimble & efficient and shift to a customer centric approach. Zions Bancorporation is one of the nation’s premier financial services companies with total assets exceeding $65 billion.

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Data Dive, Supersize Edition: Warby Parker, Whole Foods And WhatsApp

PYMNTS

WhatsApp Pay began testing its service in that country earlier this year with reports of roughly one million users, processing roughly one million transactions per month, according to people close to the National Payments Corporation of India (NPCI). Warby Parker Sees Hack ers. Whole Foods’ Expanding Footprint.

Data 139
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N26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs

PYMNTS

Utah-based FI Continental Bank is one such entity tapping cloud technology to bring more flexibility to its financial solutions as the pandemic makes seamless digital services more critical. FACILE will be marketed as a competitor to other digital-only banks making headway in the U.S., Developments Around the Cloud Banking World.

Meeting 227