Square’s Utah Bank Now Open For Business

PYMNTS

Square is now operating its state-chartered industrial bank , Square Financial Services, in Utah after the state’s Department of Financial Institutions gave it the green light, according to a press release emailed to PYMNTS. Banking banking News Square Utah What's Hot

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Bitcoin Daily: Parking Startup Accepts Crypto for Tickets; Utah Jazz Enters Crypto Business via NTF Sales; Argentina Bank Chief Cautious of Crypto Use

PYMNTS

In other news, the Utah Jazz will be the first NBA team to start selling nonfungible tokens (NFTs), KSL Sports reported. Bitcoin Belgium Central Bank of Argentina cryptocurrency international News NFTs Rarible Seety Utah Jazz What's Hot

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Coronavirus Refunds: Utah Jazz To Provide Season Ticket Fans With Reimbursements

PYMNTS

The Utah Jazz is providing reimbursement and credit choices to season ticket holders for the 10 home games left to be played for the 2019-20 regular season, Deseret reported. Coronavirus digital payments mobile payments NBA News sports ticket refunds Utah Jazz

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah.

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Turkish Authorities Search For Suspect In US Tax Fraud Scheme

PYMNTS

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S.,

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The Enigma of Drop Shipments for Sales Tax Purposes

TaxConnex

Let’s say the distributor is in Arkansas and the retailer is still in South Carolina, but the customer is in Utah instead of Illinois. The distributor has nexus and is registered for sales and use tax purposes in Utah but the retailer is not registered in Utah.

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Road Tech That Can Alert Drivers To Hazards, Congestion In Testing

PYMNTS

Utah officials estimate that new vehicle-to-everything, or V2X, technology could reduce the severity of traffic crashes by 80 percent, the Wall Street Journal (WSJ) reports.

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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

Special, more detailed conditions for sales tax on these products apply in California, Illinois, Massachusetts and Utah. You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements.

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Square’s Bank Is Open For Business – Now What?

PYMNTS

As noted earlier this week , Square’s state-chartered industrial bank, Square Financial Services, is up and running in Utah. This is the 16 th FDIC-insured industrial bank operating in Utah. Square gets a bank – and so, now what?

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Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

In addition to Texas, states involved in the Paxton suit include other Republican attorneys general from Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah.

Today In Digital-First Banking: Brex Seeks Bank Charter; MYBank Enrolls In Digital Yuan Test Drives

PYMNTS

In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. If given the green light, Brex’s bank would be based in Draper, Utah, and would be named Brex Bank.

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CFPB Lawsuit Alleges Pawn Lenders Bilked Military Families

PYMNTS

one of FirstCash’s subsidiaries, has pawn stores in Arizona, Nevada, Utah and Washington. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against pawn lenders FirstCash, Inc. and Cash America West, Inc. on Friday (Nov.

FinTech Brex Applies For Bank Charter

PYMNTS

19) it has filed to open an industrial bank in Utah, according to a press release. Brex’s bank, if approved, would be based in Draper, Utah, and would be called Brex Bank, according to the release. “As

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Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation

PYMNTS

OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website. Utah has no caps on interest rates. “A OppLoans and its Utah partner FinWise Bank have a rent-a-bank partnership that gives it the freedom to avoid caps in numerous states.

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Court Finds No Mental Health Parity Violation, Despite Offending Plan Provisions

ThomsonReuters

Utah 2021). Christine S. Blue Cross Blue Shield of N.M., 2021 WL 4805136 (D. A group health plan participant sued the plan and its insurer after claims for her child’s residential mental health treatment were denied.

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Attorneys General Ask Congress to Regulate Big Tech

PYMNTS

Those who signed the letter, according to the report, include Phil Weiser of Colorado, Letitia James of New York, Rob Bonta of California, William Tong of Connecticut, Douglas Peterson of Nebraska, Jeff Landry of Louisiana and Sean Reyes of Utah. A group of U.S.

Report: Ramp Nears New Infusion That Values Firm At $1.6 Billion

PYMNTS

In February, Brex said it filed to open an industrial bank in Utah. If given the green light, Brex’s bank would be headquartered in Draper, Utah, and would be known as Brex Bank. “As

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States Sue Google Over App Store Practices

PYMNTS

District Court for the Northern District of California, was led by Utah. Google ’s app store, Google Play , is the target of an antitrust lawsuit filed by dozens of states, The Wall Street Journal (WSJ) reported. The suit, filed in the U.S.

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New Airline Breeze Airways Readies For Flights, Reveals Initial Routes

PYMNTS

The others include JetBlue, WestJet in Canada, Azul in Brazil, and Utah-headquartered Morris Air, which Southwest Airlines later acquired. Breeze, which is based in Salt Lake City, Utah, will concentrate most trips from Norfolk, Virginia; New Orleans, Louisiana; Charleston; and Tampa.

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Google's App Store Grossed $8.5B in 2019, Antitrust Case Filing Says

PYMNTS

The information is contained in previously redacted portions of a civil suit filed by the state of Utah and three dozen additional states in July, the report stated. Google’s Play Store for mobile devices generated $11.2

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Enterprise Bank & Trust Purchase Of First Choice Bank Approved By Regulators

PYMNTS

Small Business Administration-related offices in Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah and Washington. Enterprise Financial Services Corp.,

FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships

PYMNTS

The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. A federal jury in Utah convicted Johnson and Ryan Riddle of making false statements to a bank on multiple I Works merchant account applications.

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Today In B2B: Brex Pursues Bank Charter; Office Depot Bolsters B2B Strategy

PYMNTS

19) it has filed to open an industrial bank in Utah, according to a press release. Brex’s bank, if approved, would be based in Draper, Utah, and would be called Brex Bank, according to the release.

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Google Faces Lawsuit From Multiple States Over Digital Ad Tactics

PYMNTS

In addition to Texas, states involved in the suit include Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah, WSJ reported.

Revolut Likely To Apply For US Bank Charter

PYMNTS

Square's offering, by contrast, will be an industrial-loan company, supervised by the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp.

Buy Now, Pay Later Apps Play Musical Chairs In New Provider Ranking

PYMNTS

8, while Utah-based FuturePay is situated at No. S&P Global Market Intelligence has said the "buy now, pay later" (BNPL) space will be worth $352 billion within four years — about a fourfold increase over its current size.

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Biden Getting GOP Pushback On $1.9 Trillion COVID Stimulus

PYMNTS

Lisa Murkowski of Alaska and Mitt Romney of Utah, part of the bipartisan senators that worked on the package, aren’t sure another round is needed, especially at the price of $1.9 President Joe Biden’s $1.9

Alt Lending Apps Show Staying Power In New Rankings

PYMNTS

4 this go-around is Utah-based FuturePay , with interest-free POS lender Zip Pay making it into the Top 5 at No. It goes by many names. Instant credit.” Point-of-sale (POS) lending.”

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Biden Administration May Be Open To Stricter Stimulus Requirements

PYMNTS

Lisa Murkowski of Alaska and Mitt Romney of Utah have already voiced critiques, saying they aren’t sure another round is necessary, especially not at the steep $1.9

Republicans Propose $600 Billion COVID Stimulus Compromise

PYMNTS

Susan Collins , a Maine Republican, has written a letter to Biden along with Mitt Romney of Utah, Rob Portman of Ohio, Lisa Murkowski of Alaska, and others, saying they were prepared to roll out their proposed legislation on Monday (Feb.

Opportunities In Retail And Disbursements 

PYMNTS

In eCommerce, one of the globe’s biggest investment firms took a minority stake in Utah-based online shopping platform Walker Edison. The Home Depot and Lowe’s , among others, are prospering in the stay-at-home economy.

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Connecticut AG Launches Antitrust Probe Into Amazon’s eBook Business

PYMNTS

Google is also being investigated by attorneys general from several states, including California, Arizona, Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah.

Report: Square Prepares To Provide Savings, Checking Accounts To SMBs

PYMNTS

As PYMNTS previously reported, Square Financial Services , the state-chartered industrial bank of Square, is operating in Utah.

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WeLink Lands $185 Million In Financing For 5G Network Rollout

PYMNTS

Utah startup WeLink has raised $185 million to roll out its 5G fixed-wireless broadband network in new markets across the United States, the company announced in a Thursday (Jan.

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Bill.com Pays $625M For AR Software Provider Invoice2go

PYMNTS

Based in Utah, Divvy’s platform puts together expense management software and smart corporate cards. Back-office software provider Bill.com announced on Monday (July 19) that it had signed a definitive agreement to acquire Invoice2go in a $625 million stock and cash deal.

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Apple's Digital ID Launch Depends on States Picking up Tab

PYMNTS

1 that those states, together with Connecticut, Iowa, Maryland and Utah, would be the first eight states in which residents will be able to add their driver’s license or state ID to their Apple Wallet on their iPhones and their Apple Watches.

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Mastercard’s Finicity Teams With Green Dot To Advance Data Access 

PYMNTS

Mastercard inked an $825 million deal with Utah-headquartered Finicity last November in a move to strengthen its open banking platform. Open banking platform Finicity , a Mastercard company, signed a data access agreement with the digital banking platform Green Do t. .

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Second Google Lawsuit May Be Filed Next Month By State AGs

PYMNTS

The states involved include Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee, and Utah, according to Reuters.

Texas AG Paxton: More States Could File Antitrust Lawsuits Against Google 

PYMNTS

A bipartisan group of states — Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah — is planning to file an antitrust lawsuit against Google sometime in this month.

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Google, Facebook, Microsoft Account for More Than 15% of Total EU Lobbying

PYMNTS

The state of Utah and three dozen other states sued Google, alleging that the company violated antitrust laws by restricting access to its Play Store and the marketplace for smartphone users operating Google’s Android operating system.

Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA

PYMNTS

The defendant in the case is Utah resident Daniel F. Rodriguez of Utah and Jean Paul Ramirez Rico of Colombia — are alleged to have lied to investors and misappropriated funds.

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VR Startups Create Entertainment Locations In Old Retail Space

PYMNTS

According to a report in TechCrunch , Virtualities of Salt Lake City, Utah currently has two locations with one in the Gateway Mall in Salt Lake City in an old Aeropostale store and another location in Layton, Utah. The Void, another VR entertainment company has a VR park in Lindon, Utah which combines a physical set with VR film experiences.

SMB Software Company Weave Mulls IPO

PYMNTS

Utah-based software company Weave is considering an initial public offering (IPO), potentially in the fourth quarter of this year, according to a report from Bloomberg.

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