California’s Subscription Laws Gain Another Victory
Meal kit delivery company HelloFresh will pay $7.5 million to settle a civil lawsuit in California, which alleged the company deceptively enrolled consumers into auto-renewing subscription plans without proper disclosure or consent. These actions were found to violate the state’s Automatic Renewal Law and False Advertising Law. Considered some of the strongest subscription regulations in […]
Switzerland Considers Joining Anti-Money Laundering Consortium
The Swiss bank account has long been synonymous with anonymity and often associated with criminal activity, but Switzerland is working to change that perception. According to Reuters, the country is considering joining the International Anti-Corruption Coordination (IACCC) task force, a UK-based group that targets kleptocrats and works to recover stolen assets. Launched eight years ago, […]
Klarna Sells Off $26 Billion in BNPL Loans Ahead of IPO
Klarna will sell off $26 billion in buy now, pay later loans to Nelnet, a U.S.-based financial services firm primarily focused on servicing student loans, as it continues preparing for its much-delayed initial public offering. The agreement allows Klarna to offload newly originated, short-term, interest-free pay-in-four receivables to Nelnet over multiple years. For Klarna, the […]