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“Good guy” loan startup LendUp fined $6.3M for overcharging
LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there and misled people that borrowing from LendUp would boost their credit score. Now LendUp will have to pay $6.3… Read More
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Official CPSC recall goes out for Galaxy Note 7 — replacements will be available September 21
The flaming train wreck that is the Galaxy Note 7 recall finally has its official stamp of approval from the Consumer Product Safety Commission, and there’s now a hard date for when you can swap your phone for a new one: September 21. Galaxy Note 7 recall gets government treatment as the CPSC piles on
The Consumer Product Safety Commission has finally weighed in on the Galaxy Note 7 debacle, issuing its own statement urging users not just to be careful, as the FAA did, but to “power them down and stop using or charging the device.” Ford backs massive bike-share expansion in the San Francisco Bay Area
At a press conference in San Francisco today, Ford Motor Co. president and CEO Mark Fields announced that the company had both acquired a rideshare startup called Chariot and made a significant investment in expanding the region’s bike-share program. Ford’s sponsorship will see the Bay Area’s supply of shareable bikes expand from 700 to 7,000 by 2018, with 1,350 bikes going… Read More
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What’s next for the U.S. drone market?
Following a major milestone for the domestic drone industry last week, industry insiders are expecting a big uptick in dollars invested in U.S. drone-tech companies — just maybe not an immediate one. As we previously reported, the U.S. Department of Transportation and the Federal Aviation Administration implemented Part 107, or Small Unmanned Aircraft Systems rules, bringing some… Read More
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DOE small biz voucher awards include vehicles and fuel cells
The US Department of Energy has awarded $8 million in Small Business Vouchers to 43 businesses, including ten projects aimed at making hydrogen fuel cells cheaper and more efficient, and six projects that will improve vehicle fuel efficiency, including better batteries.
In addition to funding from the DOE, participants in this second round of the SBV project will be working with 12 of the… Read More
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Newly proposed rules for foreign entrepreneurs will help some, but not all, found U.S. startups
The U.S. Citizenship and Immigration Services, an office under the Department of Homeland Security, put forward a proposal today that would allow the U.S. Government to offer parole (temporary permission to be in the country) to foreign entrepreneurs starting their businesses in the United States. The proposal specifies that a founder can qualify if they started a company in the U.S. in… Read More
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NASA funds long shots aiming to make electric and eco-friendly aircraft
One of these days we’re going to see aircraft go electric, just as cars are — but not for a while. In the meantime, we can’t slack off when it comes to the research that will make it possible. NASA has announced five research projects that may help make planes more efficient and green. Read More
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To Catch a Pikachu: NY Governor moves to ban sex offenders from Pokémon GO
When you think about it, the ability for someone to put a “lure” on a spot of their choosing and attract young Pokémon fans to their location is slightly disturbing — which is why New York Governor Andrew Cuomo is trying to ban paroled sex offenders from playing Pokémon GO and other online games. Read More
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2-factor authentication is a great thing to have, and more and more services are making it a standard feature. But one of the go-to methods for sending 2FA notifications, SMS, is being left in the dust by the National Institute of Standards and Technology.