Is SAFE Banking Act Getting Closer to Passage? Senators Agree Public Safety Issues are at Play
"Sen. Jeff Merkley (D-OR), the sponsor of the SAFE Banking Act, talked about violent crime targeting marijuana businesses and...more
Can an Effort to Revamp Anti-Redlining Lending Law Survive the Swamp?
"The first major overhaul of the Community Reinvestment Act since 1995 wins praise, but some advocates say it falls short on closing the racial lending...more
Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more
6/3/2022
/ Banking Sector ,
Community Reinvestment Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Decriminalization of Marijuana ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
OCC
US Virginia Senate Allows State Banks to Offer Crypto Custody Services -
"Delegate Christopher T. Head introduced the bill back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody...more
House Takes Its Sixth Hit on Cannabis Banking Provisions -
"The House passed provisions for the sixth time that would allow cannabis companies to access the banking system, but the latest action, as an amendment to the...more
2/23/2022
/ Acquisitions ,
Cannabis-Related Businesses (CRBs) ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
Marijuana Related Businesses ,
Mergers ,
Unclaimed Property
5 Banking Trends to Watch in 2022 -
"Some of the narratives Banking Dive sees taking shape for 2022 — crypto, for example — are carryovers from last year, reaching a logical conclusion or forward motion. Others, such as...more
1/27/2022
/ Banking Sector ,
Certiorari ,
Chapter 11 ,
Commercial Bankruptcy ,
Cryptocurrency ,
Environmental Social & Governance (ESG) ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Fossil Fuel ,
SBA
Top IRS Official Says Marijuana Banking Reform Would Help Feds ‘Get Paid’ -
"IRS’s Cassidy Collins talked about the 'special type of collection challenge' that the agency faces when it comes to working with cannabis...more
11/3/2021
/ Biden Administration ,
Business Taxes ,
Community Banks ,
Cryptocurrency ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
IRS ,
Marijuana ,
Marijuana Related Businesses ,
Tax Liability ,
U.S. Treasury
IRS Chief Tells Elizabeth Warren: More Transparent Bank Data Can Fight Tax Evasion -
"Rettig, a Trump administration holdover, touted a provision in the American Families Plan that would require banks to report on their...more
10/6/2021
/ Artificial Intelligence ,
Bank Secrecy Act ,
Banking Sector ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Economic Injury Disaster Loans ,
Equitable Mootness ,
Financial Institutions ,
Financial Services Industry ,
Reorganizations ,
SBA
As Banks Push AI, Worry About Worsening Inequality Follows -
"AI and machine learning might amplify patterns of historical discrimination and financial exclusion through reliance on flawed data or mistakes in...more
Welcome to our sixth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights.
SBA to Drop Its Review of PPP Loans of $2 Million and Above -
"The effort marks an about-face for the agency...more
8/4/2021
/ Banking Sector ,
CARES Act ,
Digital Assets ,
FDIC ,
Financial Institutions ,
Foreclosure ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
SBA ,
SBA Lending Programs ,
Small Business
House Passes Cannabis Banking Bill -
"The House passed the same bill in 2019 by a similar margin, but it stalled in what was then the GOP-controlled Senate."
Why this is important: The Safe Banking Act, if passed, will...more
5/10/2021
/ Banking Sector ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
CARES Act ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Loan Forgiveness ,
OCC ,
Paycheck Protection Program (PPP) ,
Payday Loans ,
SBA ,
True Lender
From the financial sector to the healthcare industry, and even the security business itself, hackers are creeping their way into business data systems and pilfering personal information. For financial institutions, security...more
10/22/2015
/ Credit Reporting Agencies ,
Cybersecurity ,
Data Breach ,
FDIC ,
Financial Institutions ,
FRB ,
Hackers ,
Incident Response Plans ,
Interagency Guidance ,
Notice Requirements ,
OCC ,
OTS ,
Personal Data ,
Popular ,
Suspicious Activity Reports (SARs)
In This Issue:
- Another Perspective - James C. Cherry, Chief Executive Officer, Park Sterling Bank:
With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling's CEO James C....more
10/21/2015
/ Anti-Deficiency Provisions ,
CEOs ,
Community Banks ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Financial Institutions ,
Foreclosure ,
Guarantors ,
Incident Response Plans ,
Lenders ,
Mortgages