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JPMorgan: GDP Could Drop 40 Percent, Unemployment Could Reach 20 Percent

PYMNTS

JPMorgan Chase has dimmed its view of the future yet again, now saying the nation’s gross domestic product (GDP) could sink by as much as 40 percent in the second quarter due to the coronavirus pandemic, according to CNBC. That’s an increase from the already-dire 25 percent drop JPMorgan previously predicted.

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Bitcoin Daily: Avanti Preparing To Apply For Banking Charter; NJ Lawmaker Introduces Regulatory Rules On Crypto

PYMNTS

Some representatives from the world’s central banks discussed the matter last week in Kyiv, Ukraine, at a conference arranged by the National Bank of Ukraine. Meanwhile, a New Jersey lawmaker has introduced a bill that would require cryptocurrency firms to obtain a license before being able to operate, according to Coin Telegraph.

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B2B FinTechs Overcome Pandemic VC Slump

PYMNTS

New Jersey’s Buckle is an InsurTech company focused on arming the gig economy, including rideshare providers, with access to total insurance coverage. The firm said it will funnel the new investment into product development, partnerships, and national growth. earlier this year. also participated.

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OpenTable Data Shows Consumers Are Starting To Eat Out Again

PYMNTS

The national decline in restaurant bookings is starting to ease up, according to new data from OpenTable as reported by CNBC. The states hit harder by the virus, like New York and New Jersey in the continental northeast, have been seeing worse declines in restaurants.

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Citi To Bolster Business Lending In Europe With New Staff, Offices

PYMNTS

billion, Reuters reported, with new offices and staffers in multiple Western European nations by the conclusion of this year. Citi overall has operations in 55 EMEA nations; however, its commercial banking unit has offices in just 15 with 21 further nations served from locations like London, Dubai and Dublin.

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New Jersey enacts licensing and other requirements for student loan servicers

CFPB Monitor

On July 30, 2019, Acting New Jersey Governor Sheila Oliver signed into law SB 1149 , which requires student loan servicers to be licensed, creates an Office of the Student Loan Ombudsman within the NJ Department of Banking and Insurance, imposes various requirements, and prohibits certain conduct. Licensing requirement.

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Deep Dive: Contactless Payments And Touch-Free Ordering: How QSRs Are Reopening Their Storefronts

PYMNTS

restaurants have permanently shuttered operations, and more than 110,000 anticipated closing their doors in April, according to recent estimates from the National Restaurant Association. Many eateries are thus reimagining their operations to offer guests touch-free ordering and payment experiences. Approximately 30,000 U.S.

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