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South Dakota Sues Wayfair, NewEgg, Overstock And Systemax Over Lost eCommerce Revenue

PYMNTS

It’s a big litigious party out in South Dakota these days, as the state is suing four eCommerce merchants for their lost sales tax – and different merchants (in a separate suit) are suing right back. North Dakota.”. Supreme Court precedent that retailers around the nation have relied upon for decades.

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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

State governments began rolling out economic nexus laws after 2018’s South Dakota vs. Wayfair ruling. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing.

Retail 109
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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Buy now, pay later (BNPL) is a type of point-of-sale installment loan that partners with retailers to allow consumers to pay for their purchases in multiple equal payments. When online shopping, if a retailer has a partnership with a BNPL platform, the customer can choose it as their payment method when placing their order at checkout.

Fintech 474
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Who Pays A Higher Price For Online Sales Tax?

PYMNTS

The 2018 South Dakota v. Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October.

Taxes 102
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Confronting Wayfair’s Unanswered Questions

PYMNTS

The 2018 South Dakota v. Marketplace facilitator laws have been particularly murky, as many are written in broad terms that have complicated compliance for eCommerce platforms, according to Rachelle Bernstein, vice president of government relations and tax counsel for the National Retail Federation (NRF), a Washington, D.C.-based

Taxes 100
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What Is Powering The Emerging Pawnaissance?

PYMNTS

Interest rates on pawn loans vary as they are regulated by states. Regulations require that pawnbrokers request proof of ownership before making a deal with a potential customer — but the less reputable players in the industry have a nasty habit of forgetting to ask. So what is driving the Pawnaissance?

Ohio 151
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Ballard Spahr Submits Comment Letter to OCC in Support of Proposed True Lender Rule

CFPB Monitor

Ballard Spahr LLP has submitted a comment letter to the OCC in support of its proposed rule , “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”). Three virtually identical Federal Interest Statutes govern interest that may be charged by Banks: Section 85 of the National Bank Act (“NBA”), 12 U.S.C. §

FDIC 78