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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon

PYMNTS

In today’s top news, California lawmakers propose a financial watchdog at the state level, and Germany launches an antitrust investigation into Amazon. California Proposes Financial Watchdog Agency. At the center of it all: online gaming, and the way we access the latest popular diversions (or don’t).

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Instacart-Walmart Delivery Pact Heats Up Online Grocery Wars

PYMNTS

11), reported by CNBC , that retail behemoth Walmart has struck a partnership with Instacart to offer same-day deliver across a few, select markets in the United States, focused on four initial pilots in Oklahoma and California. Amazon, for its part, said online grocery sales tripled in its latest quarter. percent.

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Fundation Digitizes SMB Loans For Banc Of California

PYMNTS

In a press release , Fundation said it is collaborating with Banc of California to develop a streamlined, digital small business lending and line of credit solution that the bank can offer to its small business clients. SMBs can use the tool to apply for financing through an online application on the Banc of California website.

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With Wynn’s $402M In Net Losses, Is Online Gambling The Future Of Gaming?

PYMNTS

The executive noted in The Wall Street Journal that individuals were visiting beaches in Southern California in droves, and eateries were opening for business once again in Texas. This is bringing about heightened revenue for online gambling platforms in states such as New Jersey — trends in growth that may continue beyond the health crisis.

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SMBs’ Online Lending Surge Raises Borrower Protection Concerns

PYMNTS

Small businesses continue to flock to online platforms to find much-needed financing, with banks still failing to fill the demand for small to medium-sized business (SMB) loans despite economic growth in the U.S. But the majority of online SMB lenders do not disclose publicly their fees and interest rates, reports warned.

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California Student Borrower Bill of Rights Becomes Law

CFPB Monitor

California Governor Gavin Newsom has signed into law the Student Borrower Bill of Rights, AB 376 , as part of a package of consumer protection legislation. Like the licensing law, the Act applies to servicers located in California or whose activities are “directed to” persons inside California. See Section 1788.102(a)].

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Auto Marketing Will Support The Digital Shift

PYMNTS

Online auto sales are the only game in town. That’s good news for consumers who shop for cars online, which they did at an 86 percent rate during 2019. A small percentage of car purchases were made online last year. Even if someone doesn’t buy a car online, they are researching that purchase online,” said Russell.

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