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

The New York Times announced on Monday (Oct. The New York Times is the perfect home for The Wirecutter because of our shared love and commitment to reader service and public good through rigorous reporting,” Lam said in a press release. The New York Times is the definitive source for news, information and entertainment, and now, we’re working on becoming an authoritative destination for service journalism. MORE

Yesterday, New York’s Department of Financial Services jumped on the politically correct banking bandwagon by issuing guidance reminding state chartered financial institutions that they “can play a significant role in promoting public health and safety in the communities they serve, thereby fulfilling their corporate social responsibility to those communities.” Compliance New York State Regulatory banking department GDPR NCUA advertisements Stress Tests 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

But one startup hopes to change that paradigm by bringing a more compact concept of a farm into New York City. When you make it super easy to farm something, it becomes a whole new business opportunity for a community. DeMartino said Smallhold develops mushrooms that are already fully grown, too, to help introduce new customers to its growing system. The New Produce Section. In the Big Apple, where space is at a premium, it’s not easy to grow farm fresh produce. 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

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

FinDEVr New York begins this week and we’re excited to host the dozens of presenters on stage March 21 and 22 at the Metropolitan Pavilion. This year we’ll be at Metropolitan Pavilion in the Chelsea neighborhood of New York City. FinDEVr 2017 New York 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

For those of use who’ve ever perused a recipe in The New York Times and fantasized about preparing it before rapidly realizing we own absolutely none of the appropriate ingredients to prepare said dish, a new service is arising just for us. And, surprisingly, it is being offered by The New York Times itself. Merchant Innovation food delivery Meal Kits New York Times Retail 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

Retail’s latest piece of roadkill today is Fairway Supermarkets, an institution for our readers living in New York City, and probably something the rest of our readers have never heard of. The filing is what is known as a “prepackaged” bankruptcy restructuring, meaning that lenders agree to change existing debt to new equity and debt in the reorganized version of the firm. As Queen so famously sang, another one bites the dust. 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

In his recent 2017 budget proposal, Governor Andrew Cuomo outlined a few changes that might be in store for New York State fintechs, particularly online lenders. The Empire State really wants to be in charge of the fintech sandbox—and it wants the OCC out already. 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

The New York State Department of Financial Services submitted a formal comment letter to the OCC today, saying that the latter, frankly, isn’t going to do the job of regulating fintechs — and isn’t Read More. MORE

New York was rocking the fintech this week, from Next Money and BBVA Open Talent to Finovate Fall. Tune in to Brett King and company below to hear the fintech insider perspective. Social Media Startups Technology BBVA Breaking Banks Finovate Next Money MORE

Federal Reserve Bank of New York Head William Dudley has violated code of conduct rules, reported Reuters. Citing an investigation of potential conflicts of interest between the Federal Reserve Bank of New York and the financial firms it regulates, Reuters reported Dudley didn’t disclose that his half-sister was an employee of Wells Fargo. The New York Fed said the lack of disclosure didn’t violate the ethics laws on the books in the U.S., MORE

The first compliance deadline fell last week for the state’s strict new regulation. Cybersecurity State regulators Bank technology State of New YorkBanks are struggling with certain elements, such as multifactor authentication. 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

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

New York Attorney General Eric Schneiderman asked 13 cryptocurrency exchanges for detailed information about their operations as part of a "fact-finding inquiry.". Bank technology Cryptocurrencies Bitcoin Blockchain Distributed ledger technology Fintech Fintech regulations New York Attorney General NYDFS 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

FinDEVr New York may be done. This year in New York, our two-day developers conference took user experience to new levels – and we’re not just talking about the state-of-the-art virtual reality sessions available for sampling at our FinDEVr Gaming Zone, either. 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

Artificial intelligence is set to challenge traditional technologies in financial services, if the startups that demoed at BBVA Open Talent in New York today are any indication. 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 bad news is, New York & Co.’s The company saw a soft start to the quarter in line with thinning foot traffic at malls, but comp store sales made up for it in March and April, resulting in New York & Co.’s New York & Co. However, the CEO was confident that staying the course to execute new strategies would continue to deliver growth. New York & Co. Retail What's Hot ecommerce New York & Co. 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

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. 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