Massachusetts May Revoke Robinhood's Broker-Dealer Registration

PYMNTS

Regulators in Massachusetts are taking steps to pull Robinhood’ s broker-dealer license, alleging that the digital trading app lures inexperienced investors and puts their money at risk, Reuters reported. Investments Massachusetts News regulations Robinhood What's Hot

Massachusetts Mutual To Buy FinTech RIA Platform Flourish

PYMNTS

Massachusetts Mutual Life Insurance Company (MassMutual) has agreed with Stone Ridge Asset Management , which has over $10 billion in assets under management (AUM), for MassMutual to acquire FinTech registered investment advisor (RIA) platform Flourish , according to a press release.

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Massachusetts Reopens Its Dining Rooms

PYMNTS

Restaurant dining rooms in Massachusetts reopened on Monday (June 22), after being shuttered for three months. We are making the progress we’re making because of the actions that people here in Massachusetts are taking every day,” Baker said at his daily press conference on Friday (June 19).

Massachusetts Regulators To Crack Down On Robinhood

PYMNTS

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. The complaint is from the office of William Galvin, Massachusetts secretary of state. State regulators are set to file a complaint on Wednesday (Dec.

Massachusetts Files Suit Against Uber, Lyft On Drivers’ Status

PYMNTS

Massachusetts is the second state to declare that Uber and Lyft drivers should be deemed employees under state wage and hour laws, the Attorney General’s Office announced on Tuesday (July 14). .

Massachusetts to Sue Equifax for Data Breach

Bank Innovation

Equifax is likely to face a lawsuit from Massachusetts Attorney General Maura Healey, who said Tuesday that she plans to file a lawsuit against the credit rating agency over a data breach that’s compromised the personal information of the state’s residents. Cards Compliance Exclusive Security data breach Equifax massachusetts social security number sue

Massachusetts is latest state to modernize credit union statues

American Banker

Financial regulations Massachusetts State-chartered credit unions Credit unions Law and regulationA bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years.

Massachusetts Can Proceed With Lawsuit Against Equifax

PYMNTS

A judge has ruled that the state of Massachusetts can move forward with its lawsuit against Equifax. The breach resulted in several lawsuits filed against Equifax, including one by Massachusetts Attorney General Maura Healey. Equifax knew about the vulnerabilities in its system for months, but utterly failed to keep the personal information of nearly three million Massachusetts residents safe from hackers,” said Healey at the time.

Massachusetts Division of Banks issues supervisory alert on NSF fees for representments

CFPB Monitor

The Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulation has issued a supervisory alert to warn financial institutions of the potential legal and regulatory risks arising from NSF fees charged on the representment of unpaid transactions.

Massachusetts Regulator Subpoenas 'Roaring Kitty' Trader In GameStop Investigation

PYMNTS

Massachusetts securities regulators have issued a subpoena for a YouTube streamer going by the name “Roaring Kitty” over his role in reportedly helping to drive interest in GameStop in last month’s stock market jubilee, Reuters reported.

Provident in Massachusetts buys warehouse lending business

American Banker

Community banking M&A Warehouse lenders Mortgages Massachusetts Florida ConnecticutThe company acquired ResX Warehouse Lending from People's United Financial.

Gas Payment Solution PayByCar Launches In Massachusetts

PYMNTS

A first-in-the-nation payment solution that allows drivers to purchase gas from their cars without taking out cash, a credit card or a mobile app has launched in Westborough, MA. Those with E-ZPass can register for PayByCar to easily pay for their gas at the Route 9 Alltown Mobil via their E-ZPass transponders and payment methods on file. “We We chose the MetroWest area to launch this new technology — and Westborough, MA specifically — because the community matches our target market demography.

Massachusetts is latest state vying to become fintech hub

American Banker

Fintech Fintech regulations Collaboration

Apprenticeships at center of Massachusetts bank's diversity push

American Banker

Massachusetts Workplace management Workforce managementReading Cooperative Bank recently launched a program that aims to hire young Black and Hispanic adults from low-income communities. Its leaders say it’s part of a broad strategy to develop new pipelines of talent and better serve low-income communities.

Trade group files lawsuit challenging Massachusetts emergency debt collection regulation

CFPB Monitor

It violates the Massachusetts anti-SLAPP statute which protects parties from actions designed to chill petitioning activity (which actions would presumably flow from any violation of the provision of the regulation restricting court access).

Bitcoin Daily: US National Banks To Hold Reserve Currencies For Stablecoins; Stripe To Pay Massachusetts $120K In PlexCoin ICO Role

PYMNTS

In other news, Stripe will pay $120,000 to resolve claims that the payment processor’s “risk monitoring and fraud prevention and mitigation practices” contravened Massachusetts’s consumer protection law, according to an announcement from the state attorney general office.

Massachusetts bank rebranded to reflect national push

American Banker

Massachusetts Marketing Community banksProvident Bank was recast as BankProv to avoid confusion as it adds business lines and enters new markets.

Massachusetts mutual taps insider as its next chief

American Banker

C-suite Massachusetts Community banking Succession planning Mutual banksJonathan Dowst will become president in July and CEO a year later.

Massachusetts Attorney General Moves to Dismiss Lawsuit Challenging Its Emergency Debt Collection Regulations

CFPB Monitor

On October 23, 2020, Massachusetts Attorney General Maura Healey filed a motion to dismiss in ACA International v. Massachusetts is still in the State of Emergency Period, but the 90-day period lapsed on June 24, 2020.

Southern Mass Credit Union rebrands

American Banker

Massachusetts Credit unions Branding

Subprime auto lender reaches $27M settlement with Massachusetts AG

American Banker

Consumer lending Crime and misconduct Subprime lending Auto lending

Walmart Officially Sorry It Can’t Tell Massachusetts From Maryland

PYMNTS

Until this past Monday (April 4), the retail giant had confusingly sold a Russell Athletic t-shirt depicting an image of a state that was clearly Massachusetts yet with a facsimile of the University of Maryland’s “M” logo and the word “Terps” written within its borders (“Terps” was actually squeezed into the eastern “arm” of the state that is arguably Massachusetts’ most obviously identifying characteristic).

Massachusetts AG emergency regulation prohibits certain collection activity by both creditors and debt collectors

CFPB Monitor

On March 27, 2020, the Massachusetts Attorney General filed an emergency regulation interpreting the Massachusetts Consumer Protection Act, M.G.L. Debt Collection Regulatory and Enforcement debt collector massachusetts

CFPB and Massachusetts AG file lawsuit against credit repair company

CFPB Monitor

The CFPB and the Massachusetts Attorney General’s Office have filed a lawsuit against a credit repair company and the company’s individual owner in federal district court in Massachusetts.

Federal court grants TRO in trade group lawsuit challenging Massachusetts emergency debt collection regulation

CFPB Monitor

A Massachusetts federal district court has entered a temporary restraining order that blocks the state’s attorney general from enforcing the prohibitions on initiating lawsuits and making collection calls in the AG’s emergency debt collection regulation promulgated on March 26.

Massachusetts Co-ops Planning Merger

American Banker

Abington Bank in Massachusetts is planning to merge with Holbrook Co-operative Bank in Massachusetts. breaking_news community-banking m-a ma dealmaking-strategy

Massachusetts Throws Daily Fantasy Sports A Bone

PYMNTS

The Boston Globe reported that Massachusetts decided Friday (March 25) to establish a set of regulations that would allow Boston-based DraftKings and FanDuel to continue to operate within the state. In a short period of time, you see a very good set of tough consumer regulations in place that now let DraftKings move forward in Massachusetts,” Coakley said.

Massachusetts Homeowners Insurance: Averages Rates for Proper Coverage

MyBankTracker

Homeowners insurance in Massachusetts can provide financial relief after disasters like major storms, a fire, theft, vandalism, and other perils. But while homeowners insurance in Massachusetts protects you, it doesn’t cover everything. Massachusetts is located on the coast.

Have the rules for third-party debt collectors changed in Massachusetts?

CFPB Monitor

It has been reported that, without announcement or warning, the regulations applicable to third-party debt collectors in Massachusetts may have changed. Debt Collection State CFS Monitor State regulation debt collector massachusetts

District of Columbia enacts emergency debt collection law in response to COVID-19 pandemic; Massachusetts AG issues guidance on emergency debt collection regulation

CFPB Monitor

In contrast, the Massachusetts emergency regulation only restricts telephone calls to consumers.

St. Mary's Credit Union promotes CFO to become next leader

American Banker

C-suite Massachusetts Credit unions Succession planning

Methuen Credit Union taps local native as next chief executive

American Banker

C-suite Massachusetts Credit unions Career moves Succession planning

East Coast Face-Off: New York Tech Investment Beats Massachusetts By Wide Margin In 2015

CB Insights

New York and Massachusetts are known as the two top tech hubs in the eastern United States, and have each produced unicorn companies and well-known exits like Etsy (New York), OnDeck Capital (New York), Wayfair (Massachusetts) and many more. Massachusetts has on some quarters eclipsed New York for … Continued. Funding & Dealflow Massachusetts New York

Greylock FCU to merge with Credit Union of the Berkshires

American Banker

Massachusetts Credit unions M&A Growth strategies

Massachusetts federal court stays effective date and enjoins enforcement of HUD final rule revising FHA disparate impact standards; 2 other lawsuits filed challenging rule

CFPB Monitor

On October 25, a Massachusetts federal district court entered a preliminary injunction staying and postponing the effective date of the final rule issued by HUD last month (“2020 Rule”) revising its 2013 Fair Housing Act disparate impact standards (“2013 Rule”).