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The bill, known as the STOP Act, was introduced by State Sen. Samra Brouk and Assemblymember Steven Raga, and proposes that any wage or cash advance be considered a loan and subject to the state's 16% civil usury law.
January 27
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Prosecutors argued the 23-year-old courier knew he was aiding criminals, citing texts about "gold rushing" and scammer videos on his phone.
January 27
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Merchants have mostly been silent on President Trump's call for a cap on credit-card interest rates. But they'd take a "huge hit" under such a plan, Synchrony CEO Brian Doubles said Tuesday.
January 27
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A Delaware judge denied HoldCo Asset Management's emergency motion for a temporary restraining order to stop the deal from closing. Fifth Third plans to complete its purchase on Feb. 1.
January 27
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The card network's Start Path engagement program is scouring the technology world for entrepreneurs working on the new form of artificial intelligence.
January 27
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The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.
January 27
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At a time when banks have tokenization, stablecoin and blockchain projects in the works, senior leaders will exchange ideas at a New York conference.
January 27
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State regulators say proposed changes by the Federal Reserve that would make state bank examiners the primary boots on the ground will make bank examinations faster, but could cause some issues to go overlooked.
January 27
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Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.
January 26
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Faraz Shafiq, formerly of AWS and Google, will oversee the bank's vision for enterprise-wide artificial intelligence initiatives.
January 26
