This is a roundup of news that I have come across during the day. Here you can read about the Ruby Tuesday bankruptcy, Citi $400M fine, new Razer credit card with LED logo, $4,280 butt-dial mistake, Chowbus data breach affects hundreds of thousands of customers, and LendingClub closing its platform.
The nearly 50-year-old company filed for Chapter 11 bankruptcy protection Wednesday, with the intention of reducing its debt and operating as usual while it navigates the process. Like others, Ruby Tuesday’s business declined more this year because of the temporary closure of its dining rooms that forced some locations to permanently close.
Citigroup Inc agreed to pay a $400 million penalty and draw up a sweeping remediation plan after U.S. regulators identified “several longstanding deficiencies” and operational lapses, U.S. regulators said on Wednesday. The Federal Reserve and Office of the Comptroller of the Currency said that the bank required “comprehensive corrective actions” and must overhaul its risk management, data governance and internal controls across the company.
Razer appears to be expanding ever so slightly out of the PC gaming accessories market, because they’re now producing their very own credit card. Yes, you read that correctly. First revealed earlier today by Razer (and reported on by PCGamer), this new credit card is pretty flashy – literally, that is, because it actually features a glowing LED light. Razer will begin rolling out the new credit card through their Razer Fintech technology arm, and right now it’s only available for trial in Singapore, and for up to a very limited 1,337 people in total.
On September 24th, physician Dr. Ali Vaziri was unpleasantly surprised by a mobile alert from his bank, which said he had just purchased a $4,280 upgrade for his Tesla Model 3. The large transaction, he quickly surmised, was a “butt dial” or accidental purchase made through the Tesla app on his iPhone. To this date, Vaziri says, Tesla customer service has not provided him with a refund, nor has the call center provided him with so much as a confirmation number or e-mail to acknowledge his calls about the refund.
Asian food delivery service Chowbus emailed customer data, including home addresses and phone numbers, to some of its users after a breach on Monday. An email address registered with the company sent a link to files containing details of about 4,300 restaurants as well as information about hundreds of thousands of customers. Chowbus confirmed the breach in an email to customers sent Monday. Some user data “had been illegally accessed and made available online,” it said. The company didn’t comment on how the breach occurred, or how many customers were affected.
There is big news out of LendingClub today for their tens of thousands of retail investors. They have given notice that they are closing down their Notes platform at the end of the year and individual investors will no longer be able to invest in any loans originated by LendingClub. This is a disappointing development for the industry, as LendingClub was a pioneer in peer to peer lending