article thumbnail

New York City Council Bans Cashless Food And Retail Stores

PYMNTS

The New York City Council on Thursday (Jan. Applebaum added that communities of color in New York City are more than twice as likely to lack access to a bank and are less likely to host a branch of a bank than the national average. 23) passed a ban on cashless food and retail stores.

article thumbnail

New York City amends debt collection regulations to include language proficiency requirements

CFPB Monitor

New debt collection rules creating requirements relating to consumers’ language proficiency are set to take effect in New York City on June 27, 2020. The new rules amend NYC’s existing debt collection regulations applicable to creditors collecting their own debts as well as third-party collection agencies.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Buying into AML risks in real estate

Abrigo

Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The real estate market is enticing to more than just new homeowners or investors. million existing homes and 612,000 new construction homes were sold. In 2017, over 5.51

El Paso 195
article thumbnail

National ATM Council Says NYC Ordinance Is Costly, Burdensome

PYMNTS

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release.

ATM 100
article thumbnail

Today In Payments Around The World: Checkout.com Lands $450 Million In Series C; Pakistan Rolls Out Instant Digital Payment System

PYMNTS

Checkout.com, which was started in 2012, recently brought an office to New York City. The system was created over years through an effort involving the Bill & Melinda Gates Foundation and the State Bank of Pakistan, with help from the United Nations, the U.K. and the World Bank.

Detroit 135
article thumbnail

How AML Regulations Are Pulling Credit Unions Into Law Enforcement

PYMNTS

CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing. Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback.

article thumbnail

How Might NYC’s New Ride-Hailing Minimum Wage Change Things?

PYMNTS

The new year will bring a minimum wage for Uber and Lyft drivers in New York City — that much is clear, even if the new rules on payments are a bit complicated. New York City also put a one-year moratorium on granting licenses for ride-hailing drivers. Tips and Bonuses.