New York To Ease Cryptocurrency Regulations

PYMNTS

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. The New York State Department of Financial Services (DFS), which supervises 1,500 banks and financial institutions and more than 1,400 insurance companies, has proposed a conditional licensing framework that promises to make it easier for cryptocurrency startups.

California’s fintech startups are invading New York

Bank Innovation

Bloomberg Carousel Innovation Strategy Open Banking Payments New York Plaid San Francisco Stripe UberWhen two Irish brothers started Stripe Inc. together in 2010, there was little question about where they should put their headquarters. It had to be California. Now, though, Stripe is leaving the tech mecca of San Francisco, awash in tech talent and investor cash, and is in the process of moving its main office about 10 […].

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Lowe’s Builds New Image At New York Fashion Week

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There’s a lot that’s new and digital about New York Fashion Week. In fact everything is new from the virtual runways to the individual shows getting precedence over the more general events. Even the sponsorships are new, including home improvement retailer Lowe’s.

American Express reopens New York, London offices at 10% capacity

Payments Source

began reopening offices in New York and London this week even as it told employees that they can continue working from home through June 2021 if they wish. New York Coronavirus American ExpressAmerican Express Co.

New York & Co. Parent RTW Retailwinds Auctioned For $40M

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Seven weeks after the corporate parent of New York & Co. RTW Retailwinds , a New York-based specialty apparel retailer, announced the Saadia Group agreed to purchase its eCommerce business at a bankruptcy auction Friday (Aug.

Related Cos. CEO Calls For Workers To Come Back To New York City

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Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. This is about bringing New York back to life.

New York City Council Bans Cashless Food And Retail Stores

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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. And in Singapore, global FinTech Rapyd announced a new platform that will allow both consumers and businesses to go totally cashless. Payment Methods Ban cashless payments Food new york city News regulation Retail What's Hot

Retail Vacancies Spike In New York City

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As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. Earlier this year, news surfaced that rents were falling and vacancies were rising on New York’s storied Fifth Avenue. Retail brick and mortar new york city News real estate Rent vacancies What's Hot

Is New York Fashion Week Still In Style?

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In many ways, 2020’s version of New York Fashion Week was much like any other year. The metallic bralette-as-shirt seemed to be this year’s Fashion Week uniform for the famous – and represented impressive dedication to style, considering that the average temperature in New York last week was below 40 degrees. The idea not only succeeded in New York, but it ignited and went global after the war ended.

Mastercard encouraging staff to begin return to New York offices

Payments Source

is encouraging its staff to begin returning to its New York-area offices, joining other large employers seeking to bring workers back after months at home. Mastercard Inc.

Mercari Links With Postmates To Offer Mercari Now Delivery Service In Parts Of New York City

PYMNTS

Residents of Manhattan and Brooklyn can now use Mercari ’s new Mercari Now service in conjunction with Postmates to sell each other goods without having to physically connect, the company announced in a press release Tuesday (Oct. The company said the New York offering follows a successful three-month trial program in San Francisco. CEO John Lagerling said the company has a loyal user base in New York City.

Retailer New York & Co. Will Likely File For Bankruptcy

PYMNTS

The parent company of New York & Co. , New York & Co. In a recent PYMNTS interview on “Powering the Digital Shift 2020, Nick Kaplan, president and co-founder of Fashion To Figure, a New York-based plus-size women’s retailer, quoted his brother who said “adapt or die.”. “A Retail bankruptcy New York & Co.

New York City Mulls Fur Sales Ban

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Following the lead of other municipalities, New York City could be going fur-free with a proposed law on the horizon. In a progressive and modern city like New York, banning the sale of fur clothing and accessories is long overdue,” Johnson said in a statement, according to the outlet. In the case of New York City, under the proposed law, a fine would range from $500 to $1,500 for businesses selling fur.

Credit Card Surcharges OK’ed In New York

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New York has banned the ban. In the wake of court filings this week that effectively ended a challenge to surcharges on credit card transactions in New York, merchants in the Empire State can indeed embrace those fees, contingent upon stating those costs to consumers up front. The merchant plaintiffs and the state of New York filed motions on Jan.

New York State Regulations for Online Lenders to ‘Level Playing Field’ for Banks

Bank Innovation

In New York State, perhaps anticipating a […]. Compliance Exclusive Lending Online Premium Alternative Lending Continuity New York StateOnline lenders may own more than half of the personal lending market, but they face serious headwinds. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.

New York To Sunbelt State Tourists: Stay Home

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With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. New York Gov. Andrew Cuomo, New Jersey Gov. New Jersey opened its beaches on Memorial Day weekend, while New York City began reopening earlier this month, letting nonessential manufacturing and construction workers return to their jobs.

How New York's planned digital currency sidesteps Libra's issues

Payments Source

It’s also sparking a potential bottom-up approach in New York. Compliance Blockchain Digital payments New York Financial inclusion Libra CryptocurrenciesFacebook’s Libra cryptocurrency project has drawn vast political pushback, but also more tangible government action as nations globally consider central bank supported digital currencies.

New York Times Posts Blockchain Job

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The New York Times newspaper posted a job called “Lead, Blockchain Exploration” on Wednesday (March 13), and later took it down, according to reports. You should bring a deep understanding of the intersection of the New York Times and the evolving space we inhabit in the media technology landscape.”. The New York Times has covered cryptocurrency and blockchain in depth in the past, and published a piece titled “Demystifying the Blockchain” last year.

New York Sees Most Bank Branch Closures In US

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are closing branches, but the New York area is seeing more closures than most, Bloomberg reported on Wednesday (Feb. The area encompasses New York City, its suburbs and parts of New Jersey, “a very dense urban market in most instances, so there’s a lot of potential duplication of bank branches,” said Walter Bialas, director of research at Jones Lang LaSalle , the world’s second-largest commercial real estate services firm. Banks across the U.S.

California's fintech startups are invading New York

Payments Source

Fintech Disruptors New YorkIn some ways, the moves are natural for tech startups with financial ambitions. Despite the growing success of fintech upstarts hailing from San Francisco, Wall Street institutions remain on top of the financial world.

Amazon Rethinks New York City HQ2 Campus

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After facing resistance from politicians and protestors, Amazon is reportedly rethinking its planned New York City campus. While Virginia officials provided the company with an incentive package, the state of New York is not projected to provide final approval for another year. And, even though New York City Mayor Bill de Blasio (D) and New York Governor Andrew M. Amazon ecommerce HQ2 new york city News What's Hot

New York State Of (Cybersecurity) Mind

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As the Sinatra tune goes (a bit paraphrased) … New York: If you can make it there in cybersecurity, you can make it anywhere. The financial services industry is girding for the new regulations by the New York State Department of Financial Services (DFS), which take effect as of Aug. Yes, the rules apply to a single state, but as some sources, including New York Law Journal , report, the regulations could have a global impact.

New York City Restaurants Could Reopen In July

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Dining out in New York City could soon be a reality again. More than two months after New York City was locked down to prevent the spread of COVID-19, Mayor Bill de Blasio said his goal is to reopen eateries in July, Bloomberg reported. “We’ll We’ll do what it takes to help this key part of New York City, its economy, the wellspring of the livelihood of hundreds of thousands of New Yorkers, to come back strong,” the mayor said, according to Bloomberg.

New York City Mayor De Blasio Says Phase 4 Reopening To Start Monday

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New York City Mayor Bill de Blasio said the city is set to enter the last phase of reopening on Monday (July 20), Bloomberg News reported. New York City is the last state region to enter Phase 4. Indoor dining in New York was paused on July 6 as the number of new coronavirus cases increased in the past few weeks. Coronavirus economy new york city News reopening What's Hot

New York Threatens NYC Restaurant Closures As State Prepares For Second Outbreak

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New York Gov. New York put indoor dining on hold on July 6 due to the spiking of the virus in the past few weeks. But despite the recent rise in cases in several parts of the country, New York has been preparing for the fourth wave of its reopening strategy on Monday (July 20), which would allow for malls and cultural institutions to open, although indoor operations will remain closed.

Nordstrom Opens New Flagship Store In New York City

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As it expands in New York City, Nordstrom opened the doors to its first-ever flagship store for women and children on West 57th Street across from the new Nordstrom Men’s Store that debuted last April. The new flagship store occupies the base of the Central Park Tower, which the company says is the tallest residential building in the world, according to an announcement. Retail beauty brick and mortar new york city News Nordstrom What's Hot

Fraudsters ‘Flourishing’ On Zelle, New York Times Reports

Bank Innovation

Bank P2P service Zelle is having some issues with fraud, with some customers reporting that hackers, exploiting weaknesses in the platform, had cleaned out their bank accounts: even if those customers had never used, or head of Zelle, according to a New York Times report this weekend. With thousands of new users signing onto the […].

New York State Issues Delinquent Mortgage Fee Guidance  

New York's State of Mind

I wasn’t able to get to sleep after watching my New York Islanders lose to the Philadelphia Flyers in double overtime, squandering their second opportunity to make it to the semi-finals of the Bubble Stanley Cup Playoffs. Mortgage Lending New York State Regulatory 3 NYCRR § 419 Delinquent Property DFS Part 419Good morning folks. Your faithful blogger is glum this morning and a little bit tired.

Mastercard shuts Sao Paulo office, New York site on worker infection

Payments Source

closed its office in Sao Paulo and an annex location near its headquarters in New York after an employee contracted coronavirus. Brazil New York Coronavirus MastercardMastercard Inc.

Capital One Adding Innovation Staff in New York

Bank Innovation

but it’s adding significant innovation staff to its New York office. Innovations Mobile Operations Retail Technology Capital One data scientist digital digital management hiring HR New York quantitative data staffingCapital One Financial Corp. may be based in McLean, Va., Job ads for more than a dozen positions in the Big Apple were recently posted, and quite a few of them directly relate to the bank’s innovation effort. Here are just a Read More.

New York City Sees Lower Rents Due To Pandemic

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The New York City real estate market, battered like other economic sectors by the coronavirus pandemic, is seeing lower rates than it has in almost a decade. Because of the current conditions, some of the most expensive listings in the area are being discounted as property owners try to hook in new buyers. Real Estate Coronavirus economy new york city News real estate Retail What's Hot

Fintech’s Power Grab — in The New York Times

Bank Innovation

The New York Times covered the subject — and the word — in depth yesterday, in a special section called “Fintech’s Power Grab.” Capital Commerce Corporate Innovations Insurance Lending Marketing Mobile Online Operations Payments PFM Retail Risk Security Social Media Startups Technology Virtual Currency Wealth Management banking disruption fintech Investing startups The New York TimesOk, it’s safe to say fintech has hit the big time.

Uber Eats Will Now Deliver Recess, A CBD Drink, In New York

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Recess, a CBD-infused sparkling water company, has announced that it will be available on Uber Eats for delivery to customers in New York City, according to a report by Adweek. We look at Recess’ launch on Uber Eats as another distribution channel for the brand, with Recess IRL [the company’s New York shop] serving as the storefront for on-demand delivery operations,” said Benjamin Witte, founder and CEO of Recess.

Today In Payments: Wirecard Files For Insolvency; New York To Ease Cryptocurrency Regulations

PYMNTS

In today’s top news, Wirecard files for insolvency, and New York proposes easing regulations for cryptocurrency licenses. New York To Ease Cryptocurrency Regulations. The New York State Department of Financial Services (DFS) has proposed a conditional licensing framework that promises to make it easier for cryptocurrency startups. Plus, California seeks a court order to make Uber and Lyft classify drivers as employees.

Visa Highlights Contactless Payments At New York Fashion Week

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To help consumers experience new ways to pay, Visa has announced a new relationship with New York Fashion Week: The Shows. We are constantly exploring sponsorship opportunities to help us diversify our brand and reach new audiences, while delivering experiences that drive business priorities,” Mary Ann Reilly, senior vice president for North America marketing at Visa, said in the announcement. “We