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Today In Payments: Savings Rate Surges To Highest Level In 39 Years; Big Lenders Process Half-Million Loan Applications

Today In Payments: Savings Rate Surges To Highest Level In 39 Years; Big Lenders Process Half-Million Loan Applications
Today In Payments: Savings Rate Surges To Highest Level In 39 Years; Big Lenders Process...
May 01, 2020  |  News

In today’s top news, the U.S. savings rate surged in March due to the shaky coronavirus economy, and big banks have processed almost 500,000 applications...

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DOJ Finds Evidence Of PPP Loan Fraud
DOJ Finds Evidence Of PPP Loan Fraud
May 01, 2020  |  B2B Payments

Amid rising criticism over the loan effort, the Department Of Justice has reportedly discovered potential fraud among companies seeking relief with the Paycheck Protection Program...

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PPP Recipients To Lose Valuable Tax Breaks
PPP Recipients To Lose Valuable Tax Breaks
May 01, 2020  |  Loans

Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal...

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As Pandemic Reshapes Consumer Behavior And Credit Risk: In AI We Trust?
As Pandemic Reshapes Consumer Behavior And Credit Risk: In AI We Trust?
May 01, 2020  |  Artificial Intelligence

The hoarding might be done. Toilet paper is no longer a precious commodity. Grocery shelves are (relatively) well-stocked. Get the Full Story Complete the form to unlock...

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Tencent Becomes ‘Substantial’ Investor In Afterpay
Tencent Becomes ‘Substantial’ Investor In Afterpay
May 01, 2020  |  Fintech Investments

Tencent Holdings Limited has become a “substantial shareholder” of Afterpay, according to an announcement from the company. The Chinese technology firm purchased a 5 percent...

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Wells Fargo Freezes New HELOCs As Mortgage Market Sputters
Wells Fargo Freezes New HELOCs As Mortgage Market Sputters
May 01, 2020  |  Loans

One of the nation’s biggest names in mortgage lending has put the brakes on home equity lines of credit (HELOC) as the economic turmoil caused...

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House Judiciary Committee Seeks Testimony Of Amazon CEO Jeff Bezo On Merchant Practices
House Judiciary Committee Seeks Testimony Of Amazon CEO Jeff Bezo On Merchant Practices
May 01, 2020  |  Amazon

After a report surfaced that Amazon staffers utilized information regarding independent sellers to create rival items, House Judiciary Committee legislators requested that Chairman and CEO...

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J.Crew Joins The Pandemic Bankruptcy Perp Walk
J.Crew Joins The Pandemic Bankruptcy Perp Walk
May 01, 2020  |  Retail

The great retail re-opening is now being called the “great resettling” by many observers and J.Crew is its latest victim. According to several sources the...

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Nonprofit Supports Community Entrepreneurs Amid Pandemic
Nonprofit Supports Community Entrepreneurs Amid Pandemic
May 01, 2020  |  Retail

It’s understandably an anxious time for Main Street businesses, even as downtowns prepare to reopen. But what about the entrepreneurs who are still hanging onto...

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