The Consumer Financial Protection Bureau announced Thursday (July 14) that it has leveled a $100 million fine at Bank of America for allegedly messing up the disbursement of state unemployment benefits during the pandemic. Bank of America reportedly “automatically and unlawfully” froze peoples’ accounts with...
As restaurants look for ways to drive visits and boost frequency, they are finding that providing a compelling digital experience is key to reaching younger consumers. By the Numbers Research from the July edition of PYMNTS’ Digital Divide study, The Digital Divide: The Move To...
In a move that sparked relief among the tech industry, the United Kingdom’s online safety bill has been postponed for at least several weeks. The legislation is designed to make Big Tech companies such as Twitter, Google and Facebook stamp out harmful content, whether that...
Instagram on Thursday (July 14) announced the ability for creators with paid subscriptions to publish their feed post only to their subscribers, among other new features, less than six months after debuting creator subscriptions, according to a company press release. In a video post announcing...
Working capital and unsecured consumer loan company BHG Financial has launched the point-of-sale (POS) financing solution NaluPay to provide merchants with the ability to offer their customers large credit lines and a cross-section of financing options. NaluPay offers high-ticket POS financing that gives merchants actionable...
The European Parliament‘s (EP) Internal Market and Consumer Protection Committee almost unanimously approved on Tuesday (July 12) the new EU rules that, according to lawmakers, “aim at protecting consumers online from credit card debt, overdrafts and loans that are unsuitable for their financial situation.” The...
Real-time clearing and banking service provider ClearBank on Thursday (July 14) announced that it has been selected by Kroo to provide access to all U.K. payment schemes as well as accounts for its operational funds. Founded in 2016, Kroo began as a digital-only prepaid card,...
Payment processing firm Plaid is now supporting digital asset exchanges and investment platforms to meet the growing number of people using cryptocurrencies. Binance.US, Gemini, Robinhood and SoFi are initially being supported on the Plaid network, with Blockchain.com, BitGo and others being added later this year,...
On Wednesday (July 13), the Treasury Committee at the U.K. Parliament sent letters to Visa and Mastercard requesting them to explain their increases in cross-border interchange fees after the U.K. left the European Union. The companies have until July 27 to respond. This inquiry comes...
