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NY Regulators Investigate Whether Earnin Is Covertly Offering Payday Loans

PYMNTS

Silicon Valley-based financial services startup Earnin has potentially run afoul of New York State regulators with its payday advance product for consumers. New York is one of 15 states where payday lending has been banned and interest rates have been capped at 25 percent.

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How GDPR Is Testing The Homesharing Market

PYMNTS

Regulators want to have a greater stake in the way sharing platforms operate. Many of these regulators also now expect sharing and payment services to comply with shifting data regulations, like GDPR. For more on this and other developments, take a look at the Playbook’s News and Trends section.

Marketing 179
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In Search Of Consumer Spending’s New Normal

PYMNTS

Singapore-based Kredivo ended 2019 with lots of new funding raised, while New York-based Splitit was among the BNPL providers that logged $1 million in transactions, according to the latest edition of the PYMNTS Buy Now, Pay Later Tracker. and around the world. consumers from their Great Britain launch in 2019.

Cards 143
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Labor Dept Floats ‘Tests’ To Define Independent Contractors

PYMNTS

New tests may help companies (and regulators) determine who is an independent contractor — and who is not. To that end, a new proposal by the U.S. Under the terms of the proposal — an interpretive rule, and not a new mandate — an “economic reality” test would help determine worker status.

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Americans Are Borrowing Like It’s 2008 â€Ĥ Sort Of

PYMNTS

It took almost a full decade, but Americans’ debt level has reached a new all-time high, surpassing the $12.68 According to the latest data out of the New York Federal Reserve , total U.S. As of Q1 2017, 61 percent of new mortgages were given to borrowers with credit scores of 760 or higher. household debt hit $12.73

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Deep Dive: Why State And Local Agencies In The US Still Struggle With Instant Payments

PYMNTS

However, government bodies are unable to innovate at the same breakneck pace as retailers or other consumer service industries, as they must adhere to complex regulations, and ensure that their software is not leaving partners behind. Payment Challenges Stall Government Innovations . Forty-four out of the 50 U.S.

Payments 130
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Wu-Tang Financial Is Here — Finally

PYMNTS

He is very focused on what the youth and millennials are interested in. He is a very solid businessman and has surrounded himself with bright individuals with a hunger for [bringing] new, groundbreaking technologies to market.” However, remember that Wu-Tang is for the children,” said Westbrook. “He