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California Won’t Open Restaurants Right Now After All

PYMNTS

California Gov. Instead, he told a news conference that the state will issue new guidance for California food and dining establishments on Thursday (May 7). Read more about what consumers told us about their views on the pandemic and their likely economic activity.

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Lawmaker: California's AB 3262 Will Not Proceed In Its 'Present Form'

PYMNTS

The lawmaker behind a proposed California consumer protection law indicated that it will not proceed in its current iteration, CNBC reported. Many industry participants engaged with us early, while others came to the table much more recently,” Stone said. Amazon’s Public Policy Chief Brian Huseman wrote in an Aug.

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California AG Sues Lyft, Uber Over Alleged Worker Misclassification

PYMNTS

California Attorney General Xavier Becerra, along with municipal attorneys from three cities in the state, is suing Lyft and Uber for allegedly misclassifying drivers as independent contractors. Sometimes it takes a pandemic to shake us into realizing what that really means and who suffers the consequences.

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Shares in California lender PacWest plummet amid fears of new US banking crisis

TheGuardian

Banks seek to calm markets as investors fear repeat of First Republic and SVB failures The California lender PacWest has sought to calm markets and said it is in talks with several potential investors as its shares plummeted by as much as 60%, reigniting fears about a US banking crisis. Continue reading.

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Top News In Payments: Chinese Tech Sector Faces Capital Crunch; US Prepares For Potential Iranian Cyberattack

PYMNTS

In today’s top news, China is facing a “capital winter” of venture funding slowdown, the U.S. prepares for a potential Iranian cyberattack, and businesses are expected to spend $55 billion to become compliant under the California Consumer Privacy Act. US Prepares For Potential Iranian Cyberattack. billion ($2.5

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Showdown: California Firm Zumasys Sues SBA And Treasury Over PPP Loan

PYMNTS

As the deadline looms for businesses to return Paycheck Protection Program (PPP) loans they were ineligible for, a California software company is suing the Small Business Administration (SBA) and the U.S. filed the suit Monday (May 4) in response to guidance from the agencies issued last week, Bloomberg News reported. Zumasys Inc.

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Top News In Payments: Central Bank Coin Currency At Least A Decade Away; US Economy Could Lose $10B To Chinese Travel Ban

PYMNTS

In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. US Economy Could Lose $10B To Chinese Travel Ban. Areas in California and New York are expected to be affected the most by the ban. economy could lose $10.3