News

Retail
Amex Platinum Card Walmart+ Membership Is Shot Across Bow of Amazon Prime
March 08, 2023

To boost membership and consumer spending beyond groceries, Walmart’s subsidizing at least some of the cost of its memberships. To that end, and as detailed in emails seen by PYMNTS promoting the chance to “save on Spring shopping,” American Express Platinum Card holders can get...

Retail
Retailers Gain Share From Confectionery Giants With Private-Label Candy
March 08, 2023

As major brands raise wholesale prices, retailers are seizing on the private label opportunity. On a call with analysts Wednesday (March 8) discussing its third-quarter FY2023 financial results, Casey’s, the third-largest convenience store chain in the nation, said confectionery giants’ recent price increases have left...

Regulation
NYDFS Secures $157.4 Million in Recoveries and Penalties in 2022
March 08, 2023

The New York State Department of Financial Services (DFS) secured $157.4 million in 2022. That total includes $124.5 million recovered for consumers and healthcare providers who filed complaints against insurance and non-mortgage-related banking providers, as well as $32.9 million in restitution and penalties collected from...

CFPB
CFPB Unearths Junk Fees in Mortgages and Auto Loans
March 08, 2023

America’s consumer protection watchdog says an examination has uncovered illegal fees in several industries. The Consumer Financial Protection Bureau (CFPB) announced Wednesday (March 8) that its recent Supervisory Highlights report found “unlawful junk fees” in auto loan, student loan and mortgage servicing, payday lending and...

Regulation
Report: Silvergate Works With FDIC Help to Stay Afloat
March 08, 2023

Struggling crypto-friendly bank Silvergate Capital is reportedly working with U.S. regulators to stay in business. Officials from the Federal Deposit Insurance Corporation (FDIC) have been in discussions with the California-based bank’s management, Bloomberg News reported Tuesday (March 7), citing unnamed sources. PYMNTS reached out to...

Investments
Consensus Raises $110 Million for Intelligent Demo Automation Platform
March 08, 2023

Consensus has raised $110 million from Sumeru Equity Partners to grow its intelligent demo automation platform. The platform helps B2B sellers produce, distribute and track the progress of interactive video demos. These demos provide the digital-first approach preferred by today’s B2B buyers, Consensus said in...

Retail
Grocers Rethink Scan and Go as Consumers Redefine Convenience
March 08, 2023

Mobile self-checkout, and specifically, scan and go, would seem a slam dunk for grocers. It has not worked out that way. All manner of retail is striving to embrace automated shopping, especially in brick-and-mortar settings. Merchants are streamlining the process of getting items into carts...

Retail
HelloFresh Seizes on Ready-to-Eat Growth Opportunity as Consumers Seek Immediacy
March 08, 2023

Meal kit providers are finding that many consumers prefer speedy convenience to cooking from scratch. Berlin-based multinational meal kit company HelloFresh said on a call with analysts Tuesday (March 7) discussing its fourth-quarter 2022 financial results that it is seeing non-meal-kit categories lead growth, with...

Retail
Lego Builds Sales as Fans Seek More Complicated Sets
March 08, 2023

Demand for larger, more complex sets helped Lego stand out among toymakers in 2022. The Danish firm announced in its annual report Tuesday (March 7) that it “significantly” outpaced the broader toy market, venue in 2022 jumped 17% to around $9.28 billion. The company attributed...