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...
May 6, 2022 | Banks & Credit Unions, News
Banks and Credit Unions Competing for Lending Talent According to a recent article in American Banker, banks and credit unions across the United States are aggressively looking to attract top lending talent as they see their lending products driving revenue growth...
May 4, 2022 | Congressional Legislation, News
Senate Banking Subcommittee Holds Hearing on Overdraft Fees Today, the Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protection met for a hearing entitled “Examining Overdraft Fees and Their Effects on Working Families.” The hearing...
May 2, 2022 | Congressional Legislation, Federal Regulation, News
Chopra Appears Before House Financial Services, Senate Banking Committees On Tuesday and Wednesday last week, CFPB Director Rohit Chopra appeared before both the House Financial Services and Senate Banking Committees to provide the Consumer Financial Protection...
Apr 29, 2022 | Banks & Credit Unions, FinTech, News
Credit Unions Looking Into Fintech Partnerships As consumer expectations change in a trend toward a more digital financial services landscape, credit unions are now exploring new services to remain innovative in a market that is rapidly growing more competitive. As...
Apr 27, 2022 | FinTech, News
Federal Reserve Hiring Private Sector Tech Talent In Push to Evolve with Financial System Federal Reserve chair Jerome Powell recently said that he wants to put the agency at “the forefront of technological changes” in the financial sector, which is driving the Fed’s...
Apr 25, 2022 | Federal Regulation, News
CFPB Releases Report on Financial Challenges Facing Rural Communities Earlier this month, the Consumer Financial Protection Bureau (CFPB) released a report on financial challenges faced by Americans living in rural communities, finding that many of these communities...
