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The Massachusetts Supreme Judicial Court heard oral arguments Monday (May 6) regarding a proposed ballot measure that seeks to redefine the employment relationship between rideshare and delivery drivers and companies like Uber and Lyft.
The court’s justices expressed concerns over certain aspects of the proposal but seemed unlikely to fully support the argument that it violates the state’s ...
Banks are seeing a slide in demand for loans — at the same time that they’re tightening lending standards.
And the pressures, as noted in the most recent Federal Reserve survey of loan officers through the “Senior Loan Officer Opinion Survey on Bank Lending Practices,” have impacted all manner of loan types, spanning commercial and consumer options.
The survey, which covered the first quarter of...
As consumers continue to feel economic pressures constrain their budgets, ThredUp sees shoppers pull back on buying clothes — even lower-cost secondhand ones.
On a call with analysts discussing its first-quarter 2024 earnings results, the resale platform observed that shoppers have been spending more conservatively. CEO James Reinhart noted that while these financial challenges have consumers...
Fifty-seven percent of the total accounts receivable (AR) transactional volume flowing into the coffers of small to mid-sized businesses (SMBs) comes in the form of nonrecurring, ad hoc payments.
Yet, PYMNTS Intelligence found that in most cases, the process around receiving and processing these ad hoc payments is far from efficient. Delays are common, and those delays can result in cash flow...
We may be witnessing the beginnings of a great pullback in consumer spending.
At least in some areas. As paycheck-to-paycheck living remains a reality for most U.S. consumers, the strategies are multipronged: trading down, trading off, or choosing where to allocate what seem to be increasingly limited resources.
Headed into 2024, PYMNTS found some shifts already in place. The share of consumers...
Artificial intelligence (AI) is reshaping the way companies approach data-driven customer marketing.
The benefits of AI in marketing are substantial, experts say. AI-powered systems offer the potential to unearth insights from customer databases, automate crucial campaign management tasks, and engage with buyers in more natural ways.
“A digital marketing transformation is underway, and AI is...
The Consumer Financial Protection Bureau (CFPB) has filed a complaint against the National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that they ignored student loan borrowers seeking payment relief.
If entered by the court, the CFPB’s proposed stipulated final judgments would require the National Collegiate Student Loan Trusts and the...
As Amazon gains share in hobby retail categories, specialty retailers such as Sam Ash are taking a hit. The music retailer announced Thursday (May 2) that it is closing all its stores.
“It is with a heavy heart that we announce that effective May 2nd 2024, all Sam Ash Music Store locations will begin store closing sales,” the company stated. “…Thank you for allowing us to serve musicians like you...
India’s central bank wants its digital currency to be available without internet access.
“One of the key features of cash is that it works offline,” Reserve Bank of India (RBI) Governor Shaktikanta Das said at a Monday (May 6) Bank for International Settlements summit. “We are working on making the CBDC transferable in the offline mode also.”
A Bloomberg News report covering the RBI governor’s...
You’ve probably heard it before, but data is undoubtedly the oil of the 21st century.
And, just like oil, any data breaches or the equivalent “spills” of consumer information can be damaging to both businesses and their ecosystems. Particularly given the fact that we are now in the zettabyte era, with more consumer-generated data being created on a daily basis than at any time in history, the...