The Consumer Financial Protection Bureau sued SoLo Funds, alleging that the online lending platform used “digital dark patterns” to illegally collect fees from borrowers. The lawsuit also alleged that SoLo Funds misrepresented the cost of loans, made false threats, collected money consumers didn’t owe, and created a credit scoring model with...
Millennials and Generation Z consumers are not satisfied choosing between digital and physical channels to do their grocery shopping — they want it all. By the Numbers The PYMNTS Intelligence study “ConnectedEconomy™ Monthly Report: The Urban-Rural Health Divide Edition” drew from a survey of nearly 2,500 U.S....
The impact of the pandemic on consumers’ geographic distribution has continued, with shoppers increasingly residing outside of major urban areas, and this trend away from cities is decelerating retail’s digital shift. PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” collects insights from 18 payments industry executives to...
As consumers look for simpler and more intuitive eCommerce experiences, Harvest Hosts sees providing more payment options as key to meeting shoppers’ demand to be able to control how they manage their spending. In an interview with PYMNTS, Neel Mehta, head of product for the company, which provides...
HSBC Bank USA has introduced a checking account for business clients that combines an earnings credit rate (ECR) with credit interest. The new HSBC Hybrid Checking Account earns interest on every dollar deposited into the account, the bank said in a Thursday (May 16) press release. “Every organization has...
Artificial intelligence (AI) hyperscaler CoreWeave has secured a $7.5 billion debt financing facility. The company will use the new financing to further develop its high-performance compute fleet to execute contracts with enterprise and AI customers, according to a Friday (May 17) press release. The co-lead investors in this debt...
This week in artificial intelligence, airlines are diving into AI this summer to enhance booking systems and boost profits, with Israeli startup Fetcherr leading the way in dynamic pricing. Meanwhile, Google’s AI-powered search summaries aim to transform online information access, sparking publishers’ concerns over traffic...
The United Kingdom’s Competition and Markets Authority (CMA) will not investigate Microsoft’s partnership with artificial intelligence (AI) startup Mistral AI. “The CMA has decided that Microsoft Corporation’s partnership with Mistral AI does not qualify for investigation under the merger provisions of the Enterprise Act 2022,”...
Walmart shouldn’t count on keeping the affluent customers it has recently gained, the retailer’s former U.S. CEO Bill Simon said Thursday (May 16). Speaking on CNBC’s Fast Money, Simon said that when the economic situation picks back up, affluent shoppers will go back to retailers that provide a...
