Back in October, the Consumer Financial Protection Bureau (CFPB) made public a new rule about data and data sharing. And it wasted no time signaling the intent behind it. In a press release issued Oct. 19, the CFPB said Rule 1033 “would accelerate a shift toward open banking, where consumers would have control...
As consumers continue to feel economic pressures constrain their budgets, ThredUp sees shoppers pull back on buying clothes — even lower-cost secondhand ones. On a call with analysts discussing its first-quarter 2024 earnings results, the resale platform observed that shoppers have been spending more conservatively. CEO James Reinhart noted that while...
When it comes to home improvement retail, millennials are taking the lead, PYMNTS Intelligence research reveals. By the Numbers The PYMNTS Intelligence report “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces” drew from a study of more than 3,500 U.S. consumers...
Since biblical times, the greatest threats have often come from inside one’s own organization. Et tu, Brute? And recent news from the U.S. Attorney’s Office for the Southern District of New York (SDNY) shows that, even two-plus decades into the 21st century, insider fraud remains...
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief. If entered by the court, the CFPB’s proposed stipulated final judgments would require the National Collegiate Student...
As Amazon gains share in hobby retail categories, specialty retailers such as Sam Ash are taking a hit. The music retailer announced Thursday (May 2) that it is closing all its stores. “It is with a heavy heart that we announce that effective May 2nd 2024, all Sam Ash Music Store locations will...
As commerce and entertainment become increasingly intertwined, high-intent consumers are still turning to brands’ and retailers’ websites to get their shoppable content. While commerce-integrated content such as shoppable livestreams have been catching on in China, consumers in the United States still prefer a more traditional online shopping experience, Vincent Yang,...
Shoppers might soon spot Target’s private-label brands at stores other than Target. Christina Hennington, the company’s chief growth officer, tells Bloomberg News that it is expanding sales of its in-house Cat & Jack children’s brand at department-store chain Hudson’s Bay Co. in Canada after getting positive feedback. According to...
J.P. Morgan and Visa have teamed to offer faster domestic payments via Visa Direct. The collaboration, announced Monday (May 6) is designed to improve merchant experiences and empower cardholders for customers of J.P. Morgan Payments. “With Visa Direct’s extensive reach in the U.S., J.P. Morgan Payments will empower merchants, businesses...
