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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Looking Toward The Blockchain . The Charter Advantage .

National 215
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Illinois Legislature Passes New “All-In” Finance Charge Cap

CFPB Monitor

On January 13, 2021, the Illinois legislature overwhelmingly passed SB 1792 (the “Act”), intended to, among other things, overhaul the state’s consumer finance laws. SB 1792 separately amends the Illinois Consumer Installment Loan Act and the Payday Loan Reform Act to apply this same 36% MAPR cap.)

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ICBA’s 2021 National Community Bank Service Award winners

Independent Banker

ICBA’s National Community Bank Service Award winners for 2021 demonstrate that when their local areas need support, community banks are there with innovative, compassionate and thoughtful responses. The KSB Lends a Hand program took anniversary funds totaling $20,000 and distributed them to more than 100 local organizations. “We

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BankFinancial Equipment Adds SMB Reach

PYMNTS

The expansion of BankFinancial Equipment Finance brings its leasing capabilities to governmental, middle-market and small businesses, BankFinancial announced on Friday (Feb. BankFinancial Equipment Finance will also continue its corporate leasing, lending, deposit and treasury management services to independent equipment lessors nationwide.

Illinois 131
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New York Department of Financial Services settles enforcement action with community bank over auto dealer fair lending allegations

CFPB Monitor

As a participant in the indirect auto finance market, Rhinebeck provides auto financing through auto dealers and has no direct interaction with consumers during the financing application process. While New York’s Fair Lending Law is similar to the ECOA, DFS has viewed the rollback in federal enforcement as an opportunity to fill the void.

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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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What Is Powering The Emerging Pawnaissance?

PYMNTS

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151