Colorado is mapping a dangerous path on access to credit
American Banker
JANUARY 2, 2024
A new law will make Colorado a much more difficult place for cash-strapped citizens to get credit. Other states should avoid following in its footsteps.
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American Banker
JANUARY 2, 2024
A new law will make Colorado a much more difficult place for cash-strapped citizens to get credit. Other states should avoid following in its footsteps.
Banking Exchange
AUGUST 24, 2020
Colorado may soon witness an influx of new fintech lenders following the conclusion of a long-running legal case Compliance Technology Fair Lending Feature3 Fintech Feature Mobile Online Tech Management Compliance Management Compliance/Regulatory.
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Bank Innovation
NOVEMBER 7, 2018
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, but […].
Bank Innovation
NOVEMBER 7, 2018
Amid a dizzying night of political drama, a bright spot appeared for the fintech and cryptocurrency communities -- the election of Jared Polis (D) to Governor of Colorado. Polis is known for many things, such as being the first openly gay state governor ever elected and a dot-com millionaire to the tune of $400 million, […].
American Banker
JUNE 7, 2023
The measure will prevent banks chartered elsewhere from charging interest rates above Colorado's 36% rate cap. If additional states take the same approach, it could hamper the business model for high-cost consumer lenders that partner with banks.
CFPB Monitor
AUGUST 24, 2020
We have previously blogged about the lawsuits filed by the Colorado Attorney General against fintechs Avant and Marlette Funding and their partner banks WebBank and Cross River Bank. Supreme Court, a Colorado appellate court (after any chance for appeal has run) or the FDIC adopts a “true lender” test that differs from the safe harbor).
CFPB Monitor
MAY 26, 2022
AG Weiser also shares his office’s approach to innovation and privacy issues (including the timetable for rulemaking under Colorado’s new privacy law) and offers his suggestions for steps companies can take to reduce their compliance risk. Click here to listen to the podcast episode.
American Banker
MARCH 26, 2024
A lawsuit filed by the American Fintech Council and two other trade groups has implications for other states that also want to keep out high-cost consumer lenders.
PYMNTS
JULY 12, 2019
Trends in legal cannabis retail are just now emerging, and fresh numbers from Colorado are providing insight into how the industry is evolving. The report said Colorado “had 2,917 licensed marijuana businesses and 41,076 individuals licensed to work in the industry as of June.”.
CB Insights
MARCH 4, 2022
The startup operates in the US and has teams in San Francisco, Texas, Colorado, and Washington, among other locations in the US. The post SaaS sales tax compliance software Anrok hits $100M valuation. The company’s client base includes Airbase, AgentSync, Front, Gem, Persona, Productboard, and Vanta. Want the full post?
Perficient
JUNE 16, 2020
Data Integration and Compliance. University of Colorado Anschutz Medical Campus found that partnering with Perficient helped them find the right resolution to scale and save on costs. Cloud Adoption and Collaboration. Ease provider adoption with cloud platforms that increase collaboration between both colleagues and patients.
Payments Source
MARCH 9, 2021
That’s the theory Colorado Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union. With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws.
CFPB Monitor
MARCH 8, 2022
Following the lead of California, Colorado, and Virginia, Utah is set to become the fourth state to pass a comprehensive privacy law. While the Utah law will likely not significantly change compliance requirements for businesses subject to the California, Colorado, or Virginia laws, it will create new obligations for some companies.
PYMNTS
SEPTEMBER 29, 2020
A division of Partner Colorado Credit Union, Safe Harbor provides a compliance-based banking program for cannabis businesses. The move comes on the heels of a pair of significant deals for AeroPay that have seen the company emerge as a financial services provider for the fast-expanding legal cannabis sector.
PYMNTS
FEBRUARY 10, 2020
Colorado, Louisiana and 10 other states have digital driver’s licenses in various stages of development but are facing their share of obstacles, including the possibility of incompatibility across state lines. billion smartphones equipped with fingerprint recognition in the same timeframe.
PYMNTS
OCTOBER 17, 2018
Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana. GFA spent time researching how Colorado was affected after it legalized recreational marijuana in 2012: The state’s marijuana businesses were often beset by break-ins, robberies and even murders.
CFPB Monitor
MAY 4, 2022
The CTDPA follows the form and content of other privacy laws passed in the prior year, including the Colorado Privacy Act (CPA), Virginia Consumer Data Protection Act (VCDPA), and Utah Privacy Act (UPA). As noted above, the law exempts non-profits, again in line with most other states save for Colorado. Data Minimization and Security.
Abrigo
JUNE 27, 2023
The institutions are the ones shouldering the costs of compliance, examinations, and fines. Reporting Since the real estate industry was exempted from AML requirements in 2002, the onus has been on financial institutions to identify and report suspicious or fraudulent activity.
Independent Banker
OCTOBER 1, 2022
Our compliance program, based on elevated risk, is very robust. However, the ambiguous legal landscape complicates compliance; 47 states, the District of Columbia and four U.S. Our compliance program, based on elevated risk, is very robust,” she notes. “We Digital path to compliance. Chris Hartman, Cogent Bank.
American Banker
MARCH 9, 2021
That’s the theory Colorado Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union. With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws.
ABA Community Banking
JANUARY 17, 2018
For now, it's “business as usual” for Colorado credit unions that serve cannabis industry Compliance BSA/AML Management Lines of Business.
ABA Community Banking
OCTOBER 6, 2015
Colorado banks’ quandaries illustrate challenges others may face as pro-marijuana laws spread like, well, weeds Compliance Blogs Common Sense Compliance BSA/AML Feature Feature3.
CFPB Monitor
NOVEMBER 19, 2018
a Tenth Circuit decision that held that a law firm hired to pursue a non-judicial foreclosure under Colorado law was not a debt collector as defined under the Fair Debt Collection Practices Act. Supreme Court in support of the respondent/law firm defendant in Obduskey v. McCarthy & Holthus LLP, et al.,
CFPB Monitor
JUNE 2, 2022
In any event, if implemented in their proposed form, the CPRA regulations will require a substantial expansion of privacy compliance operations for many businesses subject to the law. The details, potential compliance problems, technical requirements, and unanswered questions are far too numerous to address in a single blog post.
American Banker
JANUARY 10, 2022
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PYMNTS
DECEMBER 7, 2016
Working with pot growers, sellers and government entities, KIND coordinates the connections through that “seed-to-sale” method, collecting and analyzing the related data so that everything is in compliance with all current laws.
Independent Banker
SEPTEMBER 25, 2014
A community bank’s practical guide to compliance cost control. When it comes to reducing compliance costs, recommendations typically fall into complicated territory. Few community banks have the luxury of ripping and replacing their entire compliance management strategy, leaving many executives on the hunt for practical tips.
CFPB Monitor
DECEMBER 5, 2022
CarMax has 180 days to implement these practices, and has agreed to compliance monitoring for a period of five years. Additionally, CarMax is prohibited from directly or indirectly stating in marketing, advertising, or during sale (including vehicle labeling) that a vehicle is “safe” or has been repaired for “safety issues.” .
CFPB Monitor
SEPTEMBER 23, 2019
On September 16, 2019, New Jersey, along with 16 other attorneys general, including New York, Colorado, Massachusetts, and Washington, sent a letter to the Department opposing a new policy limiting cooperation with state law enforcement.
CFPB Monitor
SEPTEMBER 10, 2020
The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. In particular, the DBO seeks to learn whether LoanMart’s arrangement with CCBank is a direct effort to evade the [FACA], an effort which the DBO contends would violate state law.”.
PYMNTS
DECEMBER 18, 2018
Rafanelli said BuyQ was inspired by his own experience of working with charter schools in Colorado. It checks those compliance boxes and allows [charter schools] to confidently make purchases knowing the vendor and vendor’s products have been selected via a compliance-friendly process,” he said. Charter School Spending Lessons.
Independent Banker
OCTOBER 1, 2022
But as the prevalence of security breaches grows, so do the opportunities for community banks to position themselves as guardians of their customers’ personal data through compliance, technology and relationship building. By Katie Kuehner-Hebert. Data privacy and security is a hot topic and is only getting hotter.
CFPB Monitor
NOVEMBER 3, 2021
In addition to federal law and the new FTC policy statement, there are a number of states that have additional requirements for negative option marketing, including new autorenewal laws in California, Colorado, Delaware and Illinois enacted so far in 2021.
PYMNTS
MARCH 22, 2017
Voters in Colorado amended their state constitution with Colorado Amendment 64, which essentially legalized the recreational consumption of marijuana for adults over 21. Coley, Regulatory & Compliance Principal and Former Fed Bank Examiner Dante Tosetti and Green Bits CEO Ben Curren.
PYMNTS
JANUARY 28, 2019
Yet now the ban on the surcharge ban – made possible by regulatory changes – means that companies must be in full compliance with the rules. The sea change may have the impact of lowering interchange fees, boosting credit card acceptance and even benefiting payments service providers with new revenue streams, Razi said. population.
PYMNTS
JULY 25, 2020
. “With a pregnant wife and four young children who have lots of questions about what’s going on in the world, home is where I need to be right now,” Colorado Rockies outfielder Ian Desmond posted in an emotional message on Instagram.
PYMNTS
AUGUST 8, 2017
In nine states — Alabama, Colorado, Indiana, Iowa, Maryland, Massachusetts, Oklahoma, Oregon and South Carolina — the law requires customers get their refund. Should borrowers pay back their loans early, they are entitled to a refund on their GAP insurance because they paid for a longer term than they used.
PYMNTS
MARCH 8, 2018
Last month we saw an uptick, and now this month we saw it come back down again,” said Paychex Vice President of Risk, Compliance and Data Analytics Frank Fiorille in a statement. Still, ADP’s report signals a strengthening in SMB hiring from January to February, while Paychex’s analysis concludes a weakening of hiring activity.
Independent Banker
SEPTEMBER 21, 2015
ICBA’s in-depth certification programs vault compliance officers to the highest standards. imberly Anderson, senior vice president and chief administrative officer of Cañon National Bank in southern Colorado, became her community bank’s loan compliance officer in 2003. By Ed Avis.
PYMNTS
APRIL 27, 2016
Now legal in 23 states, with recreational use also legal in Alaska, Colorado, Oregon and Washington, marijuana is very much still a cash-based business. In Colorado alone, pot is expected to pour an estimated $120 million in tax revenue into state coffers this year. So, who continues to use cash?
PYMNTS
APRIL 7, 2017
The company provides a B2B eCommerce platform for cannabis retailers to procure product online while ensuring legal compliance. The firm said it will use the funding to expand from Colorado into other states in which marijuana laws are becoming more lenient, including California, Nevada and Oregon.
Payments Source
JANUARY 18, 2017
marijuana businesses and banks have begun opening up to one another to smooth the compliance burden of processing payments for the legal cannabis industry. Once a relationship built on deceit, U.S.
CFPB Monitor
MARCH 15, 2022
Given such continuing threats, non-bank participants would be well-advised to revisit their vulnerability to “true lender” challenges and their compliance with state licensing laws. Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. The DFPI is not alone in asserting a “true lender” claim.
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