Convenience chain Jacksons Food Stores adds bitcoin ATMs
Payments Dive
APRIL 13, 2023
The Bitcoin Depot ATMs will be installed in every state where the convenience chain operates — Idaho, Nevada, Oregon, Utah, California, Washington and Arizona.
California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank
CFPB Monitor
SEPTEMBER 10, 2020
Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” The DOB indicated that such loans have interest rates greater than 90 percent.
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Trending Sources
Revolut Likely To Apply For US Bank Charter
PYMNTS
OCTOBER 12, 2020
billion as of a funding round from last February, and the company is one of the new kinds of financial institutions operating in the digital realms and seeking to become a traditional institution. Revolut's bank charter will be with California, but it will allow the bank to operate anywhere in the U.S., Revolut is valued at $5.5
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Supermarkets Hoard Staples For Holidays, COVID Resurgence
PYMNTS
SEPTEMBER 27, 2020
Associated Food Stores , a Salt Lake City, Utah-based cooperative that supplies supermarkets, said it has started to build what it’s calling “pandemic pallets” of sanitizing products so its warehouses will be fully stocked, Darin Peirce, vice president of Retail Operations, told WSJ. “We
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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships
PYMNTS
MAY 19, 2020
The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. A federal jury in Utah convicted Johnson and Ryan Riddle of making false statements to a bank on multiple I Works merchant account applications.
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Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA
PYMNTS
JUNE 8, 2020
The defendant in the case is Utah resident Daniel F. Rodriguez of Utah and Jean Paul Ramirez Rico of Colombia — are alleged to have lied to investors and misappropriated funds. In Hong Kong, 39 percent of new FinTech firms launched in the last year are now operating via blockchain, Cointelgraph reported.
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Tab Bank ramps up digital transformation
BankInovation
JULY 22, 2021
Saying that Tab Bank, a fully digital bank headquartered in Ogden, Utah, began as a modest operation, would be an understatement.
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Rent-A-Center Acquires Acima For Virtual Lease-To-Own Platform
PYMNTS
DECEMBER 21, 2020
Founded in 2013 in Salt Lake City, Utah, Acima operates in over 15,000 retail partner locations and eCommerce platforms. The deal is $1.273 billion in cash and approximately 10.8 million shares of Rent-A-Center common stock currently valued at $377 million. The transaction is expected to close in the first half of 2021. .
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Square Partners With POWDR To Offer Ski Resorts Contactless Transactions
PYMNTS
DECEMBER 14, 2020
Safety is our top priority, on and off the mountain, and Square knows this and aligns with POWDR’s Operation Stay Safe, the enhanced POWDR mountain experience that prioritizes the well-being of our staff, guests and community in the midst of the pandemic.”.
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Nikola Motor CEO Defends $4M In PPP Funds
PYMNTS
APRIL 22, 2020
CNBC reported the forgivable government loan comes months after the 38-year-old billionaire bought a 2,600-acre ranch in Utah for $32.5 Other big businesses that received PPP loans include Ruth’s Chris Steak House, Potbelly and the coal mine operator Hallador Energy. At the time, Milton said buying property is just the beginning. “I
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Capitol Hill Hearing Examines ‘Rent-A-Bank’ Schemes To Sidestep Interest Rate Caps
PYMNTS
FEBRUARY 6, 2020
In terms of general practice, lenders, including those that operate online, must partner with chartered banks.). She offered a list of other firms engaged in similar practices, such as LoanMart, where auto title loan rates range from 60 percent to 222 percent, and where bank sponsors are based in Utah.
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Utah’s new regulatory sandbox
CFPB Monitor
JUNE 11, 2019
Utah Governor Gary Herbert signed H.B. The sponsor of Utah’s legislation, Rep. ” Utah’s regulatory sandbox, which is effective as of May 13, is similar in many respects to Arizona’s sandbox, which began accepting applications in August 2018 and now has six participants. 378 , Regulatory Sandbox, into law on March 25, 2019.
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Citigroup Ponders Suburban Satellite Offices
PYMNTS
MAY 20, 2020
Over the past several years, bigger corporates like Goldman Sachs and Deutsche Bank have moved some of their operations out of New York City to save money on overhead. Goldman went to Salt Lake City, Utah in 2000, and Deutsche Bank opened offices in Jacksonville, Florida.
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State AGs To Press Own Case Against Google
PYMNTS
OCTOBER 16, 2020
The states leading the probe include Arizona, Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah. Google is also facing a Chinese antitrust probe into whether Google took advantage of its hold over the Android mobile operating system in order to stifle competition. 15) blog. .
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Subscription Business Models Lead B2B VC Funding
PYMNTS
SEPTEMBER 18, 2020
Operating a platform that helps organizations manage their documents, eFileCabinet recently announced $11.5 Operating a platform that helps organizations manage their documents, eFileCabinet recently announced $11.5 FundingXchange targets small and medium-sized businesses (SMBs) with its solution to connect firms to capital.
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Apple To Shutter 30 More US Stores Again Amid Pandemic
PYMNTS
JULY 2, 2020
Locations in California, Alabama, Idaho, Georgia, Oklahoma, Nevada and Louisiana are set to shutter on Thursday, while shops in Mississippi, Texas, Florida and Utah were shuttered as of Wednesday (July 1). Their reclosures reportedly are a negative barometer of the ease with which retail operations are able to resume throughout the country.
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Play Store Has State AGs Exploring Third Google Lawsuit
PYMNTS
JANUARY 15, 2021
This latest Google probe will be headed by the attorneys general of Utah, North Carolina and New York, one of the sources said. Google told Reuters that its Android operating system gives users and developers the option of using other app stores. Justice Department over its policies. . Other states are also expected to join the suit.
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This Insight Partners-Backed Cryptocurrency Tax Software Company Raised $130M To Carry Out Growth Plans
CB Insights
AUGUST 16, 2021
Utah-based TaxBit is a developer of cryptocurrency tax software. The Tax Center Suite, for example, was designed for end-users and automates back-office accounting operations for finance teams. HOW’S THE COMPANY PERFORMING? Similarly, TaxBit Consumer is focused on simplifying the filing of taxes on digital asset investments.
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This Fifth Wall-Backed Company Raised $80M For Its Distressed Real Estate Marketplace
CB Insights
AUGUST 2, 2021
It currently operates in 14 markets across the states of Florida, Colorado, Georgia, Texas, and Utah, catering to almost 2,600 qualified off-market buyers. The company reportedly witnessed a 600% year-on-year increase in revenue from June 2020 to June 2021. The company currently employs 180 people. Want the full post?
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Mixed Performance For Payments Stocks
PYMNTS
SEPTEMBER 11, 2017
The mobile payments firm announced plans last week to open up a physical branch in Utah, to be called Square Financial Services. The brick-and-mortar Square operation is slated to offer loans and also traditional deposit accounts to small businesses (SMBs). Square was the biggest gainer on the week, up 4 percent. percent.
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Square Tries To Create A Bank, Again
PYMNTS
DECEMBER 19, 2018
Square said it’s going to resubmit the necessary paperwork with state and federal regulators to start a bank in Utah, which could happen as soon as Wednesday (Dec. The banking license would allow Square to forego the route of having to weave through other financial institutions for its customers’ financial needs.
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Today In Payments: Study Shows Americans’ Savings Drying Up; State AGs To Press Own Case Against Google
PYMNTS
OCTOBER 16, 2020
The states leading the probe include Arizona, Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah. It works with all platforms and operating systems and gives developers the flexibility to build software that is adaptable to the circumstances needed. Amazon Prime Day Sees Small Business Sellers Rake In $3.5B.
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DOE: Cyberattack Interrupted US Electrical Services
PYMNTS
MAY 2, 2019
The Department of Energy (DOE) has confirmed that a distributed denial-of-service attack (DDoS) perpetrated against an energy company caused “interruptions of electrical system operations,” according to a report. The affected power company provides electricity to Los Angeles, Salt Lake County in Utah and Converse County in Wyoming.
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Today In Payments: COVID-19 Triggers Job Losses; JPMC First Big Bank To Shutter Branches As Virus Spreads
PYMNTS
MARCH 19, 2020
Also, Square won a banking license for an industrial bank in Utah. The Federal Deposit Insurance Corporation (FDIC) granted Square a banking license to operate a de novo industrial bank in Salt Lake City. In today’s top news, due to the coronavirus, over 3,600 workers have lost their jobs and JPMC has temporarily closed 1,000 branches.
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Court Enjoins HUD Attempt to Impose New Down Payment Assistance Requirements
CFPB Monitor
JULY 18, 2019
CBC Mortgage Agency, which is an instrumentality of the Cedar Band of Paiutes Indian American tribe, operates the Chenoa Fund down payment assistance program. District Court for Utah. The Agency challenged HUD’s action in the U.S.
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Uber Facilitated More Than $600M In Tips For Drivers
PYMNTS
JUNE 21, 2018
Lyft , noted the report, is operating in fewer markets than Uber — Lyft is in the U.S. and Canada while Uber has operations around the world. The report noted that Uber drivers are earning the most tips in Salt Lake City, Utah; San Antonio, Texas; Kansas City, MO; New Orleans, LA; and Nashville, TN.
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AvidXchange: Crossing The Western Frontier
PYMNTS
JUNE 28, 2018
What do Charlotte, NC, and Salt Lake City, Utah, have in common? A lot, if you ask AvidXchange CEO Michael Praeger — which is why the startup saw both locations as a great home base for operations in those respective parts of the country: Charlotte for the East Coast and now Salt Lake City for the West.
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122 GPS Capital Markets For Sale, Sources Say
PYMNTS
AUGUST 9, 2019
As of last year, the company employed 63 people, reports said, citing Utah Business data. On one hand, many corporates just decide not to engage in some international operations given such a risk,” he said, noting that he has often seen FX management struggles becoming a total barrier to going international.
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Non-farm Payrolls Rose By 312,000 In December
PYMNTS
JANUARY 4, 2019
A worker who paints houses in Utah, where the market for housing is on the rise, was quoted by The Wall Street Journal as saying, “I have to turn people away because I don’t have the capacity to take on their work.” The news comes a few months after the unemployment rate in the United States fell to 3.8
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Kroger Debuts Rx Membership Program
PYMNTS
DECEMBER 13, 2018
“Kroger operates nearly 2,200 pharmacies, serving millions of customers across America. Kroger will take over Shopko pharmacy records in Utah, Nebraska, Idaho, Washington and Montana as well. including diabetes, asthma, mental health issues, women’s health concerns, and gastrointestinal and heart health.
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Build-A-Bear Workshop Plans New Locations, Pop-Up Shops
PYMNTS
OCTOBER 31, 2018
Build-A-Bear Workshop Chief Operations Officer Chris Hurt said in the announcement, “Build-A-Bear is working with some of the best family-focused venues in the country this holiday season and beyond to bring our unforgettable Make-Your-Own experience to even more places people go for fun and entertainment.
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CFPB announces settlement with payday and auto title loan lender to resolve alleged CFPA, FCRA, and TILA violations
CFPB Monitor
APRIL 7, 2020
Cottonwood operates approximately 340 retail lending outlets in Idaho, Illinois, Michigan, New Mexico, Texas, Utah, and Wisconsin under the name Cash Store. The CFPB announced that it has entered into a settlement with Cottonwood Financial, Ltd., The consent order requires Cottonwood to pay a civil money penalty of $1.1
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78 HUD Throws in the Towel on Down Payment Assistance Revisions
CFPB Monitor
AUGUST 15, 2019
What HUD did not mention was that that CBC Mortgage Agency, which is an instrumentality of the Cedar Band of Paiutes Indian American tribe and operates the Chenoa Fund down payment assistance program, had filed a lawsuit in the U.S. District Court for Utah challenging HUD’s action.
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SoFi Officially Files For A Bank Charter Of Its Own
PYMNTS
JUNE 13, 2017
Officially SoFi is looking for an industrial loan charter under the name SoFi Bank in Utah. And though its mailing address will be in Salt Lake city, SoFi will continue to operate as it has since its inception — as an online-only institution, with no branches or deposit-taking ATMs. SoFi has confirmed the news.
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Amazon Loading Whole Foods With Its Own Executives
PYMNTS
JUNE 15, 2018
What’s more, instead of reporting to Amazon’s head of worldwide consumer business Jeff Wilke, Mackey and the two Amazon executives are overseen by Steve Kessel, who is in charge of all the physical store operations. Shoppers in Prime-ready stores today, for example, can pick up a $6 rotisserie chicken or a 6 oz.
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Cash&Carry Rebrands Itself Into Smart Foodservice
PYMNTS
MAY 4, 2018
According to Chain Store Age, the company said, “This approach will not only better emphasize the go-to market strategy, but will also offer restaurants and businesses the same competitive advantage that is available to some of the largest foodservice operators.” Earlier this week, the company announced that net sales increased 5.1
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Zions Bancorporation goes live on TCS BaNCS Core Banking software
Bobsguide
FEBRUARY 22, 2022
Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. Zions Bancorporation is one of the nation’s premier financial services companies with total assets exceeding $65 billion.
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Meal Kit Startup Gobble Hires From Starbucks, Blue Apron
PYMNTS
JUNE 12, 2017
“Both Steve and Brian are instrumental to our national expansion efforts, ensuring Gobble’s cost leadership and operational efficiency are best in class.”. Gobble currently serves seven western states: California, Nevada, Washington, Oregon, Arizona, Idaho and Utah. McEvoy agreed.
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Big Fizzle: The Recession Comes, Quickly
PYMNTS
MARCH 20, 2020
Mall operators like Simon have shuttered malls. to create a de novo industrial bank in Utah — originating commercial loans to retailers who use the company for payments. The most widely hit industries include the travel vertical, of course, and also restaurants and bars. But not enough to keep a recession at bay.
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N26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs
PYMNTS
JUNE 26, 2020
Financial institutions (FIs) worked quickly to ensure they could operate smoothly as the pandemic kept consumers at home and closed brick-and-mortar branches in Europe, the United Kingdom and the United States. The Tracker also analyzes how the use of cloud technology can help FIs stay on top of that shift.
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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs
PYMNTS
OCTOBER 17, 2017
All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active. Square already has an SMB lending arm – Square Capital – which it operates through a deal with Utah-based Celtic Bank. That lending operation has been fairly successful for Square, and has lent out over $1.8
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36 State Attorneys General settle with CarMax over non-disclosure of open safety recalls
CFPB Monitor
DECEMBER 5, 2022
Joe Wilson, Chief Operating Officer, stated: CarMax led the industry in recall transparency by sharing vehicle specific recall information in-store and online to ensure our customers know about open recalls prior to purchase.
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G7 Prepares For Cross-Border Malware Simulation
PYMNTS
MAY 13, 2019
Most have deployed automated network-scanning technologies, and about one-third have in place their own security operation centers, researchers found. While experts said utilities are often targeted by cyberattackers, the events are typically minor and do not disrupt operations.
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