May 20, 2022 | Federal Regulation, News
Senate Banking Committee Holds Confirmation Hearing for Fed Nominee Michael Barr On Thursday, the Senate Banking Committee held a confirmation hearing for three of President Biden’s nominees for various positions. In addition to Michael Barr, chosen to be the Federal...
May 18, 2022 | FinTech, News
Two CEOs Say Fed’s Rising Interest Rates Make Lending Below 36% Cap More Difficult During earnings calls last week, the CEOs of two lending platforms said that the Federal Reserve’s rising interest rates may make it more difficult to lend to some borrowers who...
May 16, 2022 | Banks & Credit Unions, Congressional Legislation, News
Bipartisan Group of 24 Senators Urge Congressional Leadership to Move SAFE Act Last week, a bipartisan group of two dozen Senators sent a letter to Congressional leadership asking for the SAFE Act—a cannabis banking reform bill—to be included in the final America...
May 13, 2022 | Banks & Credit Unions, News
$60M Loan Deal Suggests Banks May Be Becoming More Comfortable Lending to Cannabis Businesses AFC Gamma, a publicly traded company that provides lending to the cannabis industry, said that it has struck a deal with Pasadena, California-based East West Bank and an...
May 11, 2022 | Federal Regulation, News
Senate Confirms Cook, Jefferson to Federal Reserve Board of Governors Nearly four months after President Biden nominated Dr. Lisa Cook and Dr. Philip Jefferson to serve on the Board of Governors of the Federal Reserve System, the Senate has voted to confirm his...
May 9, 2022 | FinTech, News
California Governor Gavin Newsom Signs Executive Order to Begin Establishing Regulatory Framework for Blockchain Technology Last Wednesday, California Governor Gavin Newsom signed an executive order that his office said “would foster responsible innovation, bolster...
