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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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South Dakota Approves 36% Rate Cap on Payday Lenders

American Banker

Voters in South Dakota on Tuesday overwhelmingly approved a measure to cap interest rates on payday, installment and auto title loans at 36%, while rejecting a competing amendment sponsored by a large payday lender.

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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.

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Bitcoin Daily: OCC Grants Crypto Firm Anchorage Conditional Digital Banking License; Crypto Exchange RG Coins Owner Arrested For Money Laundering

PYMNTS

With the national trust bank charter, South Dakota-based Anchorage will become Anchorage Digital Bank , National Association. The clarity of being regulated by the oldest regulator for banks in the United States … sends a very clear message.”. In other news, the U.S.

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

Perficient

Pay in 4 is not currently available for residents of Missouri, New Mexico, North Dakota, South Dakota, Wisconsin, or any US Territories. Consumer advocate groups and regulators have also brought forth concerns about the ramifications of BNPL existing outside of the normal credit-reporting system.

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Who Pays A Higher Price For Online Sales Tax?

PYMNTS

The 2018 South Dakota v. Executives attributed the decline to the impact of states’ decisions to tax online sales and projected the change in regulations could cut into sales growth by 2 percentage points next year. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October.

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OCC targets BSA/AML compliance by Anchorage Digital Bank – only 15 months after granting bank charter to the crypto custodian

CFPB Monitor

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. In January 2021, the OCC granted Anchorage conditional approval for a national trust bank charter.