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The New York State Office of the Attorney General (OAG) sued UPS Monday (Dec. 15), alleging that the package delivery company “repeatedly and persistently” underpaid seasonal workers by requiring them to work off the clock, failing to accurately record all hours worked, and manipulating timekeeping systems to reduce paid hours.
The lawsuit centers on UPS’ practices involving temporary...
The Federal Reserve Bank of Atlanta has begun a search for a president and CEO to succeed Raphael W. Bostic, who announced in November that he will retire at the end of his current term.
The search committee will be chaired by Gregory Haile, chair of the Atlanta Fed board of directors, and will include the Atlanta Fed’s six Class B and C directors, according to a Monday (Dec. 15) press...
Money movement and financial services are underpinned by a timeless question: who is trusted to keep the books, and at what cost?
Digital assets and blockchain have for years tried to muscle and build their way into this conversation. To their proponents, the tokenization of assets and the deployment of on-chain instruments like stablecoins have come to represent somewhat of a panacea...
Temu has launched an app that enables Shopify merchants to list products on Temu’s marketplace directly from their Shopify accounts.
The app allows these merchants to access Temu’s Local Seller Program in more than 30 markets, while managing their product listings, inventory and fulfillment in one place, Temu said in a Monday (Dec. 15) press release.
It provides fast, accurate listings...
PayPal said it is ready to venture deeper into small business lending.
The company applied to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to create PayPal Bank, a proposed Utah-chartered industrial loan company, according to a Monday (Dec. 15) press release provided to PYMNTS.
“Securing capital remains a significant hurdle for small businesses...
Artificial intelligence (AI)-focused cybersecurity firm Resemble AI has raised $13 million.
The new funding, announced last week, will help Resemble protect organizations amid what it says is a surge in deepfake cyberattacks, what it dubbed the “deepfake crisis.”
“The numbers tell a stark story,” the company said in a news release. “Deepfake-related fraud caused $1.56 billion in losses...
Bank of America reportedly found that United States regulators are mapping out a plan for stablecoins and tokenized deposits.
The U.S. has begun an ongoing shift that could move more real-world assets and payments on-chain, CoinDesk reported Monday (Dec. 15).
Bank of America pointed to the Office of the Comptroller of the Currency’s conditional approval Friday (Dec. 12) of national...
The National Association of Convenience Stores (NACS) and the National Retail Federation (NRF) filed complaints opposing the Visa and Mastercard settlement offer in a 20-year legal battle over interchange fees.
The associations and some individual merchants filed complaints last week, and the settlement process is now headed for a hearing and the court’s preliminary ruling for or...
Mastercard found that the Asia-Pacific region is seeing stable growth amid tariff and artificial intelligence-related upheaval.
The company’s annual economic outlook for 2026, published Tuesday (Dec. 9) by the Mastercard Economics Institute, also projected global real gross domestic product (GDP) growth to ease to 3.1% next year, compared to an estimated 3.2 % in 2025, according to a...
Sony’s internal enterprise artificial intelligence platform, which is powered by Amazon Web Services (AWS) AI services, is processing 150,000 inference requests per day and is expected to handle 300 times that amount in a few years.
Employees across Sony’s entire group of companies have access to the platform, and they use it for help with drafting content, responding to inquiries,...