PYMNTS-MonitorEdge-May-2024

legal

Common legal phrase. Lawful action, such as an agreement consciously agreed to by two or more entities, establishing lawful accountability. For example, an apartment lease legally binds the lessor and the lessee.

Temu Tepid About US Thanks to TikTok Turmoil
Temu Tepid About US Thanks to TikTok Turmoil
May 13, 2024  |  Retail

Chinese eCommerce company Temu is reportedly looking beyond the United States for business growth. Temu, which had invested billions of dollars in the American market, is now...

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Uber, Lyft Head to Court as Massachusetts Challenges Driver Classification
Uber, Lyft Head to Court as Massachusetts Challenges Driver Classification
May 13, 2024  |  Gig Economy

Uber and Lyft are facing a trial in Massachusetts over allegations that they misclassified their drivers as independent contractors instead of employees. The trial is...

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Federal Judge Blocks CFPB Rule Limiting Credit Card Late Fees
Federal Judge Blocks CFPB Rule Limiting Credit Card Late Fees
May 10, 2024  |  Credit Cards

The government’s new rule that would limit credit card late fees has been blocked by a federal judge in Texas. In a Friday (May 10)...

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Porch Group Sues China Construction Bank, Alleging Reinsurance Fraud
Porch Group Sues China Construction Bank, Alleging Reinsurance Fraud
May 10, 2024  |  Legal

Porch Group, a U.S. homeowners insurance and home inspection software company, reportedly sued China Construction Bank (CCB), alleging reinsurance fraud. In its complaint, Porch alleged that the...

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Manhattan District Attorney Announces Organized Retail Theft-Related Indictments
Manhattan District Attorney Announces Organized Retail Theft-Related Indictments
May 09, 2024  |  Retail

The Manhattan District Attorney’s Office indicted a business and two individuals as part of an effort to fight organized retail theft. District Attorney Alvin Bragg announced the indictment of...

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FTX Has Enough Cash to Repay Creditors in Full
FTX Has Enough Cash to Repay Creditors in Full
May 08, 2024  |  Cryptocurrency

Eighteen months after its collapse, FTX is ready to repay its customers in full. The cryptocurrency exchange says it has pulled together assets worth $14.5...

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TikTok and ByteDance File Suit Challenging Constitutionality of Ban
TikTok and ByteDance File Suit Challenging Constitutionality of Ban
May 07, 2024  |  Legal

TikTok and its parent company ByteDance filed a lawsuit Tuesday (May 7) asking the court to review the constitutionality of a law that requires ByteDance to sell TikTok’s...

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Chime Financial and CFPB Reach Settlement on Delayed Balance Refunds
Chime Financial and CFPB Reach Settlement on Delayed Balance Refunds
May 07, 2024  |  CFPB

Chime Financial will pay at least $1.3 million in redress to consumers and $3.25 million in penalties as part of a settlement with the Consumer Financial Protection...

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Google Asks Judge to Reject Proposed Changes to App Store
Google Asks Judge to Reject Proposed Changes to App Store
May 03, 2024  |  Legal

Google reportedly asked a judge to reject an Epic Games proposal that would reform how the Google Play store operates. Google said in a Thursday (May 2) court filing that...

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