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SAFE Banking Act returns to Congress: Is safe harbor for cannabis banking on the horizon?

Abrigo

“Without full access to the banking and payments system, legal cannabis businesses are forced to operate in the shadows,” said Sen. Sherrod Brown, D-Ohio, in the same hearing. Without access to traditional banks, legal cannabis businesses can’t access loans and capital or even use basic bank accounts.

Lending 195
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How the PPP + Technology Means MBL Growth and More for Credit Unions

Abrigo

Credit unions like Telhio Credit Union in Central Ohio had employees working around the clock to help with PPP loans, and they used an SBA lending solution that automated the origination process, as well as the forgiveness and administration phases. In fact, it was Ohio’s top SBA lender among credit unions. get started.

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The Balancing Act Between PPP’s Letter And Spirit Of The ‘Law’

PYMNTS

They are doing it because they can,” said Chris Olsen, a venture capitalist with Drive Capital Partners in Columbus, Ohio, in an interview with the Times. It might be argued that the relatively well-capitalized firms have taken spots that would have been reserved for companies in dire straits. They view it as free money.”.

Columbus 149
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Who were ICBA’s Top Lenders of 2022?

Independent Banker

Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.

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Democratic Senators introduce bill to close industrial loan company “loophole”; coalition of financial services and consumer organizations voice support for bill

CFPB Monitor

The Act appears to go further than the FDIC’s final rule by giving broad authority to “impose any conditions or restrictions on the parent company or any subsidiary” which could be read to give the agency authority to limit the parent company’s activities.

FDIC 78
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The benefits of small business relationships

Independent Banker

One community bank relying on its internal talent is $596 million-asset The Community Bank in Zanesville, Ohio. “In They can go ahead and operate and know that our bank is behind them,” Allen says. They become a loyal customer of our bank, because we showed them a better path.”. Joe Allen, The Community Bank.

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The 2022 GonzoBanker Awards

Gonzobanker

2022 was the year the fintech industry and venture capital firms figured out that banking is harder than everybody thought. SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Goes to Tom Brown and the Second Curve Capital team for the inspiring message from Clemson CEO Jim Clements.

Community 216