INDUSTRY INSIGHTS YOUR PEERS ARE READING
New York City commuters – arguably the most on-the-go demographic in the United States – do not want to wait for anything. ” It’s an inefficiency that the New York Metropolitan Transportation Authority (MTA) has not only acknowledged, but committed to doing something about. Last week, they officially tasked long-term Mastercard partner Cubic Transportation Systems to implement a new fare payment system across the city’s entire subway (and bus) system. MORE
And pop-up shops, if you happen to be in New York City between now and when the ball officially drops on 2018 in Times Square. percent) of brands pick New York, with L.A. MORE
The company, which is in 29 states, is growing — it added New York City and Madison, Wisconsin, to its roster of cities in 2017. And, companies that provide rideshare rentals like GM’s Maven Gig have been expanding to new cities — such as Los Angeles — as well. Many, but not all, cars meet Uber and Lyft’s standards. With Uber, for example, cars must have four doors and be newer than 15 years old to operate on their platform. MORE
New York’s financial regulator had a bold claim to offer over the weekend — she claimed that other states should use New York’s sweeping cybersecurity rules as a model for how insurers must protect their networks from hackers. New York also has clear guidelines for when and how firms have to report when there are hacks. “We The New York regulation is a road map with rules of the road.”. MORE
Uber’s loss in a class-action lawsuit filed by its drivers in California and Massachusetts has opened a new can of worms for the ride-hailing company. The latest in its problems is a potential revolt from New York-based drivers who have come together to form an association called Amalgamated Local of Livery Employees in Solidarity (Alles) to bolster their position against the company — much like their counterparts who won $100 million in a settlement over expense claims. MORE
Quite possibly, the biggest blockchain news this week was that Swedish bank SEB announced that intends to build a blockchain channel between New York and Stockholm to enable customers to make real-time transfers, as soon as next year. Paula da Silva, head of transaction services at SEB, said in a statement that SEB has plans to include further geographies — besides New York and Stockholm — where the bank operates. MORE
New York Attorney General Eric Schneiderman has announced the launch of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices of cryptocurrency trading platforms. With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Regulation AML bitcoin cryptocurrency exchange investments New York News regulation What's Hot MORE
Square , the payments company founded by Jack Dorsey, has received a license to enable residents in New York state to buy and sell bitcoin via its Cash App. In a press release , the New York State Department of Financial Services Superintendent Maria T. DFS is pleased to approve Square’s application and welcomes them to New York’s expanding and well-regulated virtual currency market,” said Superintendent Vullo. MORE
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. MORE
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. MORE
Grasshopper, a new bank challenger in New York, is gearing up to go after the banking industry, reported FinTech Futures. According to the report, the bank formerly went by the name New York Ventures Bank and is in the process of getting a banking license. The report noted that it chose the Temenos T24 banking system, with Grasshopper aiming to provide commercial banking products and services to businesses in New York. MORE
The New York State Department of Labor said earlier this month through a published proposed rule that current consents are invalid for direct deposit and must be reinstated by employees. In New York, employers must provide employees with notices tied to direct deposit and paycards, gather new written consents and then determine whether current practices mirror the newly created and extended mandates. MORE
The New York Times reports news that ride-hailing has returned to New York state and Long Island after a two-year battle by Lyft, Via, Uber and others to lift the ban on their carsharing services. Cuomo (D) pushed the new law to put ride-hailing services under the jurisdiction of the State Department of Motor Vehicles instead of individual cities and towns. A complementary new law tightens restrictions around who is eligible to become a driver. MORE
Apple Pay and Masterpass digital wallet technology are making their way to New York, with Governor Andrew M. We have worked tirelessly to rebuild and reimagine New York’s transit system for the 21st century, and a key part of those efforts is to incorporate the amenities that modern-day riders demand,” Gov. It then became available on Metro-North’s Harlem Line on July 25 and finally became available on the rest of the LIRR and Metro-North’s New Haven Line on Aug. MORE
Legal Watch New York State Mulvaney New York State Senate UNFCUThis headline might be a tad premature but it appears that the State Senate Democratic Caucus headed by Andrea Stewart-Cousins and the 8 member Independent Democratic Caucus by Senator Jeff Klein have reached a preliminary agreement to unify, potentially paving the way for cutting Republicans out of holding any power in the state legislature. How […]. MORE
60 To highlight its ability to grow into new markets and categories, New York & Co. Along with the name change, New York & Co. Retail Fashion To Figure Greg Scott New York and Company News retail brands RTW Retailwinds What's Hotis changing its name to RTW Retailwinds. The move comes as the retailer seeks to top the $1 billion mark in sales, Chain Store Age reported. “We MORE
s Jet.com unit is getting into the same-day grocery delivery market, gearing up to offer the service in New York City. Bloomberg , citing a statement the company made via email, reported that Jet plans on opening up a fulfillment center in the Bronx in the fall that will enable same-day and next-day delivery of groceries in New York City. Jet told Bloomberg the new fulfillment center will result in the creation of hundreds of new jobs. Walmart Inc.’s MORE
Samsung is now providing the possibility for this with its upcoming invite-only event at New York’s Fashion Week. Instead of sitting in front of a traditional runway watching models in the latest fashions pass by, Samsung event attendees will be welcomed into a large backstage area room to peruse new fashion lines. Retail Apple New York New York Fashion Week NYFW Samsung virtual reality VR MORE
The Bank of New York Mellon announced Monday (July 17) that it named Charles W. Under Charlie’s leadership, Visa transformed its technology platform by opening access to its network and capabilities, partnered with the world’s leading technology companies to drive new payment experiences, introduced new technologies to improve payment system security and built a world-class management team. Personnel Bank of New York Mellon CEO Charles Scharf News Visa What's Hot MORE
Sleep Number is opening a new brick-and-mortar store in the New York City’s Flatiron District, adding to its portfolio of over 560 locations. Our new Sleep Number store in the Flatiron District demonstrates the transformative impact of our smart beds on individual comfort, restfulness and well-being.”. Casper CEO Philip Krim said the brand’s acquisition costs have fallen, partly because of the new store openings. “It’s MORE
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 MORE
Magazines have been testing the waters of brick-and-mortar retail by opening temporary stores in major cities, and New York Magazine is no exception. New York Magazine eCommerce GM Camilla Cho said the project’s aim is to put The Strategist brand in front of a large audience. “It’s MORE
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. MORE
New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. 22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. FDIC), the news report noted the new bank will begin with $100 million in capital. MORE
One of the developments that real estate lawyers are paying a lot of attention to these days has to do with New York’s six year statute of limitations for foreclosures and how it interacts with agreements to modify an existing debt. Legal Watch Mortgage Lending New York State 159 A.D.3d MORE
New York City has a new fighting chance against the proliferation of cyber fraud in the form of a state-of-the-art, $10 million digital crime laboratory. The New York district attorney’s office estimates that over a quarter of its cases annual involve digital evidence — and the trend is growing. New York’s lab is mostly equipped to process evidence from mobile data. With each new update companies roll out, phones get even tougher to crack. MORE
Lifestyle brand goop , for instance, is opening its first permanent store in the SoHo district of New York City, called goop Lab, after experimenting with a pop-up shop in nearby Long Island, among other locations. MORE
Internet Retailer reported that New York & Co. This new kiosk will provide a virtual endless aisle, offering customers access to all sizes, colors and assortments,” he told analysts during the company’s third quarter 2016 earnings call, according to a transcript from Seeking Alpha. Worthington told analysts that New York & Co. Retail ecommerce Mobile shopping New York & Co MORE
The August Subscription Commerce Tracker looks at how companies are stepping up their efforts to win over subscribers by offering new tiers of subscription plans. In the automotive space, carmakers are turning to new subscription tiers to win the attention and business of drivers. MORE
Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. “Your competitors are, and will, be embracing FinTech in all of its various forms,” said Maria Vullo, NYDFS superintendent, referring to new types of financial services technology, according to a report by Reuters. MORE
Global money transfer service WorldRemit is launching in New York, providing state users the ability to transfer funds to nearly 150 countries, the company announced yesterday. MORE
Chef’d , the maker of meal kits that can be purchased in grocery stores, has inked a deal to sell the kits in Walgreens and Duane Reade stores in the New York area. CNBC , citing the company, reported Chef’d meal kits will be sold in 30 Walgreens and Duane Reade stores in New York as part of a deal with Smithfield Foods. Our goal is to give more shoppers more meals in more places to help them eat better, save time and explore new flavors.”. MORE
First, in the better-late-than-never category, New York State released the final version of its much anticipated guidance and model policies to implement comprehensive sexual harassment training requirements imposed by the State Legislature last session. HR New York State guidance model policy New York State sexual harassment policyWell, a guy doesn’t blog for a day and all hell breaks loose. MORE
Amazon has announced plans to open an Amazon Go location in New York. It recently opened two more locations in the city, which will make New York its first foray outside of Seattle. “We We plan to open Amazon Go in New York,” an Amazon spokesperson said, according to Reuters , though it was not revealed when the company plans to open the location. Earlier this year, the eCommerce giant launched its first checkout-free convenience store market in Seattle. MORE
While some see it as a fad or a gimmick, Barneys New York has become the latest to take the tech very, very seriously and turn it into a force for good. The virtual reality short film reportedly marries fashion, tech and contemporary dance, premiering exclusive designer looks to Barneys New York customers straight from the runway via the Oculus Gear VR, Samsung’s VR app and Barneys’ website. MORE
Tipping a taxi driver is a common occurrence in New York City. New York City’s Taxi Commissioner, Meera Joshi, commented on how this new proposal would impact the ridesharing industry in the area: “This rule proposal will be an important first step to improve earning potential in the for-hire vehicle industry, but it is just one piece of a more comprehensive effort to improve the economic well-being of drivers.”. MORE
The first New York City location will be in the Time Warner Center. Amazon Commerce Amazon Automotive Amazon New York What's HotAfter about a half a year of speculation on the subject, it looks like Amazon will be opening its long-anticipated bookstore in Manhattan. The 4,000 square foot store will be located in the Shops at Columbus Circle which sit at the edge of Central Park. MORE
For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. With a big focus on technology in Silicon Valley and Boston, New York City slowly made its way to becoming a powerhouse tech player. MORE
In the latest development in New York state’s debate over payroll card regulation, Department of Labor has reportedly appealed an earlier decision that invalidated and revoked earlier regulations on payroll cards issued by the Department. Reports this week said the New York State Department of Labor appealed the Industrial Board of Appeals’ decision, issued earlier this year. MORE
The New York State Department of Financial Services (DFS) is looking to fine Habib Bank Ltd (HBL) nearly $630 million for failing to comply with state and federal laws at its only U.S. The New York State Department of Financial Services could not immediately be reached for comment. Habib Bank has submitted an application to DFS to shut its New York operations. That bank still has a New York branch. MORE
New York State workers who get paid via prepaid card will have more consumer protections starting next year. According to a report by The New York Times , the new rules, which some consumer advocates said are the strongest in the country, are designed to ensure employees don’t have to pay any fees to access their paychecks. In 2015, the New York Attorney General said in a report that workers, on average, pay fees of as much as $20 a month. MORE
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. MORE
Yesterday, New York’s Court of Appeals became the latest court to weigh in on what one judge has called New York’s “Allison Wonderland” law prohibiting merchants from charging surcharges for credit card payments but authorizing them to offer lower prices for cash payments. Legal Watch New York State 518 GBL Expressions Hair Design Expressions Hair Design v. MORE
When word got out that employers had until October 2019 to comply with the training requirements of New York’s comprehensive new sexual harassment prevention requirements, I swear I could hear a collective sigh of relief across the New York credit union industry. HR Legal Watch New York State Regulatory new york sexual harassment law MORE
New York Related Topics PYMNTS
SEPTEMBER 7, 2018
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
PYMNTS
AUGUST 28, 2017
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.
PYMNTS
SEPTEMBER 12, 2018
To highlight its ability to grow into new markets and categories, New York & Co. Along with the name change, New York & Co. Retail Fashion To Figure Greg Scott New York and Company News retail brands RTW Retailwinds What's Hotis changing its name to RTW Retailwinds. The move comes as the retailer seeks to top the $1 billion mark in sales, Chain Store Age reported. “We
PYMNTS
AUGUST 29, 2017
The New York State Department of Financial Services (DFS) is looking to fine Habib Bank Ltd (HBL) nearly $630 million for failing to comply with state and federal laws at its only U.S. The New York State Department of Financial Services could not immediately be reached for comment. Habib Bank has submitted an application to DFS to shut its New York operations. That bank still has a New York branch.
PYMNTS
SEPTEMBER 10, 2018
Amazon has announced plans to open an Amazon Go location in New York. It recently opened two more locations in the city, which will make New York its first foray outside of Seattle. “We We plan to open Amazon Go in New York,” an Amazon spokesperson said, according to Reuters , though it was not revealed when the company plans to open the location. Earlier this year, the eCommerce giant launched its first checkout-free convenience store market in Seattle.
PYMNTS
AUGUST 21, 2018
The August Subscription Commerce Tracker looks at how companies are stepping up their efforts to win over subscribers by offering new tiers of subscription plans. In the automotive space, carmakers are turning to new subscription tiers to win the attention and business of drivers.
PYMNTS
MARCH 9, 2018
While some see it as a fad or a gimmick, Barneys New York has become the latest to take the tech very, very seriously and turn it into a force for good. The virtual reality short film reportedly marries fashion, tech and contemporary dance, premiering exclusive designer looks to Barneys New York customers straight from the runway via the Oculus Gear VR, Samsung’s VR app and Barneys’ website.
PYMNTS
NOVEMBER 2, 2017
New York City commuters – arguably the most on-the-go demographic in the United States – do not want to wait for anything. ” It’s an inefficiency that the New York Metropolitan Transportation Authority (MTA) has not only acknowledged, but committed to doing something about. Last week, they officially tasked long-term Mastercard partner Cubic Transportation Systems to implement a new fare payment system across the city’s entire subway (and bus) system.
PYMNTS
APRIL 18, 2018
New York Attorney General Eric Schneiderman has announced the launch of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices of cryptocurrency trading platforms. With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Regulation AML bitcoin cryptocurrency exchange investments New York News regulation What's Hot
PYMNTS
AUGUST 14, 2018
Sleep Number is opening a new brick-and-mortar store in the New York City’s Flatiron District, adding to its portfolio of over 560 locations. Our new Sleep Number store in the Flatiron District demonstrates the transformative impact of our smart beds on individual comfort, restfulness and well-being.”. Casper CEO Philip Krim said the brand’s acquisition costs have fallen, partly because of the new store openings. “It’s
PYMNTS
OCTOBER 20, 2016
Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. “Your competitors are, and will, be embracing FinTech in all of its various forms,” said Maria Vullo, NYDFS superintendent, referring to new types of financial services technology, according to a report by Reuters.
PYMNTS
DECEMBER 5, 2016
Internet Retailer reported that New York & Co. This new kiosk will provide a virtual endless aisle, offering customers access to all sizes, colors and assortments,” he told analysts during the company’s third quarter 2016 earnings call, according to a transcript from Seeking Alpha. Worthington told analysts that New York & Co. Retail ecommerce Mobile shopping New York & Co
PYMNTS
JUNE 18, 2018
Square , the payments company founded by Jack Dorsey, has received a license to enable residents in New York state to buy and sell bitcoin via its Cash App. In a press release , the New York State Department of Financial Services Superintendent Maria T. DFS is pleased to approve Square’s application and welcomes them to New York’s expanding and well-regulated virtual currency market,” said Superintendent Vullo.
PYMNTS
MARCH 17, 2017
For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. With a big focus on technology in Silicon Valley and Boston, New York City slowly made its way to becoming a powerhouse tech player.
PYMNTS
OCTOBER 6, 2016
Apple Pay and Masterpass digital wallet technology are making their way to New York, with Governor Andrew M. We have worked tirelessly to rebuild and reimagine New York’s transit system for the 21st century, and a key part of those efforts is to incorporate the amenities that modern-day riders demand,” Gov. It then became available on Metro-North’s Harlem Line on July 25 and finally became available on the rest of the LIRR and Metro-North’s New Haven Line on Aug.
PYMNTS
APRIL 18, 2017
Tipping a taxi driver is a common occurrence in New York City. New York City’s Taxi Commissioner, Meera Joshi, commented on how this new proposal would impact the ridesharing industry in the area: “This rule proposal will be an important first step to improve earning potential in the for-hire vehicle industry, but it is just one piece of a more comprehensive effort to improve the economic well-being of drivers.”.
PYMNTS
NOVEMBER 23, 2017
New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. 22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. FDIC), the news report noted the new bank will begin with $100 million in capital.
PYMNTS
OCTOBER 26, 2018
Magazines have been testing the waters of brick-and-mortar retail by opening temporary stores in major cities, and New York Magazine is no exception. New York Magazine eCommerce GM Camilla Cho said the project’s aim is to put The Strategist brand in front of a large audience. “It’s
PYMNTS
NOVEMBER 30, 2018
And pop-up shops, if you happen to be in New York City between now and when the ball officially drops on 2018 in Times Square. percent) of brands pick New York, with L.A.
PYMNTS
FEBRUARY 15, 2017
Samsung is now providing the possibility for this with its upcoming invite-only event at New York’s Fashion Week. Instead of sitting in front of a traditional runway watching models in the latest fashions pass by, Samsung event attendees will be welcomed into a large backstage area room to peruse new fashion lines. Retail Apple New York New York Fashion Week NYFW Samsung virtual reality VR
PYMNTS
NOVEMBER 15, 2016
New York City has a new fighting chance against the proliferation of cyber fraud in the form of a state-of-the-art, $10 million digital crime laboratory. The New York district attorney’s office estimates that over a quarter of its cases annual involve digital evidence — and the trend is growing. New York’s lab is mostly equipped to process evidence from mobile data. With each new update companies roll out, phones get even tougher to crack.
PYMNTS
NOVEMBER 2, 2018
Lifestyle brand goop , for instance, is opening its first permanent store in the SoHo district of New York City, called goop Lab, after experimenting with a pop-up shop in nearby Long Island, among other locations.
New York's State of Mind
OCTOBER 3, 2018
First, in the better-late-than-never category, New York State released the final version of its much anticipated guidance and model policies to implement comprehensive sexual harassment training requirements imposed by the State Legislature last session. HR New York State guidance model policy New York State sexual harassment policyWell, a guy doesn’t blog for a day and all hell breaks loose.
PYMNTS
MAY 3, 2016
Uber’s loss in a class-action lawsuit filed by its drivers in California and Massachusetts has opened a new can of worms for the ride-hailing company. The latest in its problems is a potential revolt from New York-based drivers who have come together to form an association called Amalgamated Local of Livery Employees in Solidarity (Alles) to bolster their position against the company — much like their counterparts who won $100 million in a settlement over expense claims.
Bank Innovation
JULY 12, 2018
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.
Bank Innovation
APRIL 23, 2018
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.
New York's State of Mind
OCTOBER 24, 2018
Yesterday, New York’s Court of Appeals became the latest court to weigh in on what one judge has called New York’s “Allison Wonderland” law prohibiting merchants from charging surcharges for credit card payments but authorizing them to offer lower prices for cash payments. Legal Watch New York State 518 GBL Expressions Hair Design Expressions Hair Design v.
PYMNTS
JULY 5, 2017
The New York Times reports news that ride-hailing has returned to New York state and Long Island after a two-year battle by Lyft, Via, Uber and others to lift the ban on their carsharing services. Cuomo (D) pushed the new law to put ride-hailing services under the jurisdiction of the State Department of Motor Vehicles instead of individual cities and towns. A complementary new law tightens restrictions around who is eligible to become a driver.
PYMNTS
MAY 18, 2017
In the latest development in New York state’s debate over payroll card regulation, Department of Labor has reportedly appealed an earlier decision that invalidated and revoked earlier regulations on payroll cards issued by the Department. Reports this week said the New York State Department of Labor appealed the Industrial Board of Appeals’ decision, issued earlier this year.
New York's State of Mind
OCTOBER 9, 2018
When word got out that employers had until October 2019 to comply with the training requirements of New York’s comprehensive new sexual harassment prevention requirements, I swear I could hear a collective sigh of relief across the New York credit union industry. HR Legal Watch New York State Regulatory new york sexual harassment law
PYMNTS
JULY 18, 2017
The Bank of New York Mellon announced Monday (July 17) that it named Charles W. Under Charlie’s leadership, Visa transformed its technology platform by opening access to its network and capabilities, partnered with the world’s leading technology companies to drive new payment experiences, introduced new technologies to improve payment system security and built a world-class management team. Personnel Bank of New York Mellon CEO Charles Scharf News Visa What's Hot
PYMNTS
JANUARY 22, 2018
The company, which is in 29 states, is growing — it added New York City and Madison, Wisconsin, to its roster of cities in 2017. And, companies that provide rideshare rentals like GM’s Maven Gig have been expanding to new cities — such as Los Angeles — as well. Many, but not all, cars meet Uber and Lyft’s standards. With Uber, for example, cars must have four doors and be newer than 15 years old to operate on their platform.
PYMNTS
AUGUST 9, 2018
Grasshopper, a new bank challenger in New York, is gearing up to go after the banking industry, reported FinTech Futures. According to the report, the bank formerly went by the name New York Ventures Bank and is in the process of getting a banking license. The report noted that it chose the Temenos T24 banking system, with Grasshopper aiming to provide commercial banking products and services to businesses in New York.
PYMNTS
NOVEMBER 9, 2016
Quite possibly, the biggest blockchain news this week was that Swedish bank SEB announced that intends to build a blockchain channel between New York and Stockholm to enable customers to make real-time transfers, as soon as next year. Paula da Silva, head of transaction services at SEB, said in a statement that SEB has plans to include further geographies — besides New York and Stockholm — where the bank operates.
PYMNTS
JANUARY 5, 2017
The first New York City location will be in the Time Warner Center. Amazon Commerce Amazon Automotive Amazon New York What's HotAfter about a half a year of speculation on the subject, it looks like Amazon will be opening its long-anticipated bookstore in Manhattan. The 4,000 square foot store will be located in the Shops at Columbus Circle which sit at the edge of Central Park.
PYMNTS
SEPTEMBER 9, 2016
New York State workers who get paid via prepaid card will have more consumer protections starting next year. According to a report by The New York Times , the new rules, which some consumer advocates said are the strongest in the country, are designed to ensure employees don’t have to pay any fees to access their paychecks. In 2015, the New York Attorney General said in a report that workers, on average, pay fees of as much as $20 a month.
New York's State of Mind
NOVEMBER 29, 2017
Legal Watch New York State Mulvaney New York State Senate UNFCUThis headline might be a tad premature but it appears that the State Senate Democratic Caucus headed by Andrea Stewart-Cousins and the 8 member Independent Democratic Caucus by Senator Jeff Klein have reached a preliminary agreement to unify, potentially paving the way for cutting Republicans out of holding any power in the state legislature. How […].
PYMNTS
JULY 11, 2018
s Jet.com unit is getting into the same-day grocery delivery market, gearing up to offer the service in New York City. Bloomberg , citing a statement the company made via email, reported that Jet plans on opening up a fulfillment center in the Bronx in the fall that will enable same-day and next-day delivery of groceries in New York City. Jet told Bloomberg the new fulfillment center will result in the creation of hundreds of new jobs. Walmart Inc.’s
New York's State of Mind
NOVEMBER 8, 2018
One of the developments that real estate lawyers are paying a lot of attention to these days has to do with New York’s six year statute of limitations for foreclosures and how it interacts with agreements to modify an existing debt. Legal Watch Mortgage Lending New York State 159 A.D.3d
PYMNTS
JUNE 24, 2016
The New York State Department of Labor said earlier this month through a published proposed rule that current consents are invalid for direct deposit and must be reinstated by employees. In New York, employers must provide employees with notices tied to direct deposit and paycards, gather new written consents and then determine whether current practices mirror the newly created and extended mandates.
Bank Innovation
MARCH 2, 2018
Global money transfer service WorldRemit is launching in New York, providing state users the ability to transfer funds to nearly 150 countries, the company announced yesterday.
PYMNTS
APRIL 10, 2017
New York’s financial regulator had a bold claim to offer over the weekend — she claimed that other states should use New York’s sweeping cybersecurity rules as a model for how insurers must protect their networks from hackers. New York also has clear guidelines for when and how firms have to report when there are hacks. “We The New York regulation is a road map with rules of the road.”.
Bank Innovation
APRIL 5, 2016
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.
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