Independent Banker

DECEMBER 31, 2021

Emerging as the latest form of point-of-sale (POS) lending, BNPL introduces new ways for consumers to make purchases and spread out their payments. It used to be that if you were a lending company, you lent. Colleen Morriso n is a writer in Maryland. Why pay today what can be put off until tomorrow? It’s an evolution.

How To 91

How To Community Bank Community Lending 91

Independent Banker

OCTOBER 1, 2022

Consider, for example, its commercial lending approach. Bankers at its nine branches in north-central West Virginia and one in western Maryland spend time getting to know each customer and understanding their unique circumstances. of Clear Mountain Bank’s loan portfolio comprises commercial lending, primarily to small businesses.

West Virginia 91

West Virginia Virginia Community Bank Community 91

PYMNTS

AUGUST 8, 2019

The New York State Department of Financial Services (NYDFS) has announced it will lead a multi-state investigation into alleged violations of state regulations of the short term lending industry, specifically in the area of payroll advances.

Puerto Rico 134

Puerto Rico Regulation New York South Dakota 134

PYMNTS

AUGUST 11, 2017

The Wall Street Journal reported news that a recently unsealed FBI affidavit shows that the alleged recipient of the funds was Mohamed Elshinawy, an American citizen arrested more than a year ago in Maryland. The suspect was part of a global network directed by a now-dead senior ISIS figure in Syria, Siful Sujan.

US 106

US Maryland social media United States 106

CFPB Monitor

OCTOBER 27, 2022

The FTC’s complaint , filed in federal district court for the District of Maryland, alleges that Passport advertises cars as “certified,” “inspected,” or “reconditioned” at specific prices, but then adds hundreds or thousands of dollars in fees to the advertised prices. Under the terms of the settlement , Passport will pay more than $3.3

Groups 78

Groups Exercises Lending Policies 78

CFPB Monitor

AUGUST 7, 2019

In its press release, the DFS claims that the investigation will look into “allegations of unlawful online lending” and “will help determine whether these payroll advance practices are usurious and harming consumers.” Maryland Office of the Commissioner for Financial Regulation. Illinois Department of Financial Professional Regulation.

Industry 92

Industry Puerto Rico South Dakota North Dakota 92

CB Insights

NOVEMBER 6, 2019

Collectively, these startups have raised over $9.5B, with leading companies including lending startup Avant (Illinois, $655M in total disclosed equity funding), next-gen auto insurer Root Insurance (Ohio, $509M), restaurant finances management system Toast (Massachusetts, $503M), and small business lending startup Kabbage (Georgia, $490M).

United States 72

United States Fintech North Carolina Rhode Island 72

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. According to the DBO’s press release, until the FACA became effective, LoanMart was making state-licensed auto title loans at rates above 100 percent.

Utah 78

Utah California FDIC West Virginia 78

CFPB Monitor

SEPTEMBER 25, 2018

Noting, among other things, “retrenchment” on the federal level, the Maryland Financial Consumer Protection Act of 2018 ( HB 1634 ) was signed into law on May 15, 2018. Increases the maximum civil penalties for violations of the MCPA by merchants to $10,000 for a violation and $25,000 for a repeat violation. .

Maryland 74

Maryland Regulation Study Lending 74

American Banker

JANUARY 24, 2020

The company, which sold the business to a group of former employees, will shut down its operation this quarter.

Lending 45

Lending Groups Operations Company 45

Independent Banker

DECEMBER 31, 2022

According to a Lending Tree survey, 43% of Americans have used BNPL, up from 31% year-over-year. Colleen Morrison is a writer in Maryland. For its part, BNPL has already had repercussions on the industry. The same survey found that 42% have made a late payment and 70% have admitted to overspending.

Trends 140

Trends Payments Community Bank Texas 140

CB Insights

MARCH 13, 2019

valuation), Nuro ($2.7B), alternative lending startup Avant ($1.9B), AI-powered predictive sales acceleration platform InsideSales.com ($1.7B), salestech startup Afiniti ($1.6B), healthcare startup Butterfly Network ($1.3B), and data analytics company Dataminr ($1.2B). Bastille Networks. IDx Technologies. RiskGenius. Lucina Health.

United States 78

United States Rhode Island Massachusetts Connecticut 78

Independent Banker

OCTOBER 14, 2014

Robust online mortgage websites embrace today’s lending challenges as well as consumer needs. I still do a lot of lending myself,” Michelotti says. Now such mortgage lending preliminaries are handled online. Ron Haynie, ICBA’s mortgage lending expert. Your Lending Resources. Featured Lender Life Lending Mortgage'

Community Bank 70

Community Bank Lending Community Oklahoma City 70

Independent Banker

NOVEMBER 30, 2021

Between 2019 and 2020, there were notable increases in fraud in the areas of car loans, mortgage lending, personal loans and lines of credit, according to a 2021 report from Javelin Strategy & Research (see sidebar, above). Elizabeth Judd is a writer in Maryland. The best defenses against fraud.

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Fraud Strategy Community Bank New York City 160

Independent Banker

NOVEMBER 24, 2014

With vigor and a strong commitment to service, Ron Paul leads a rapidly growing community bank in Maryland. Don’t expect to find him home on a weeknight!” Laurence Bensinger, EagleBank. Eastern Region Award Recipient. Ronald Paul , EagleBank. Bethesda, Md. Title: Chairman and CEO. Bank assets: $5 billion. Retail outlets: 22. Employees: 425.

Community 70

Community Washington Community Bank Maryland 70

CB Insights

OCTOBER 26, 2017

California-based lending unicorn SoFi is the most well funded fintech company with just over $2B raised since 2011. Unicorns on the map include SoFi in California, Oscar in New York, Avant in Illinois, Kabbage in Georgia, and AvidXchange in North Carolina. Click on the image below to enlarge. The company was last valued at $4.5B

United States 78

United States Fintech North Carolina Rhode Island 78

Independent Banker

JANUARY 26, 2016

Schwanhausser suggests that motivating online activities or games that help customers meet savings, investing and other money management goals—or perhaps understand more about banking, entrepreneurship or protecting personal information identity theft—can help build a financial safety net and lend themselves to game technology quite nicely.

Maryland 70

Maryland Community Bank Community Technology 70

PYMNTS

JULY 12, 2020

Department of the Treasury and the Federal Reserve gave hope to small- to medium-sized businesses (SMBs) with the announcement of the Main Street Lending Program. Senator Ben Cardin of Maryland. More than three months ago, the U.S. Also last week, Mnuchin said bipartisan work is underway on a potential PPP extension.

Maine 151

Maine Lending Maryland Boston 151

Jeff For Banks

NOVEMBER 7, 2015

Me to a community banker: Why don't you offer more options than real estate secured lending to help fund early stage businesses? What I hear most often is that community banks take deposits from people and businesses in their community and lend it to people and businesses in that same community. You read it right: 100%. Seems risky.

Community Bank 60

Community Bank Community Baltimore Lending 60

Jeff For Banks

JUNE 2, 2023

The old borrow short, lend long strategy. Economists cite as the main culprit the collapse of the subprime mortgage market — defaults on high-risk housing loans — which led to a credit crunch in the global banking system and a precipitous drop in bank lending. Remember K Bank in Maryland?

FDIC 78

FDIC Community Bank Regulation Lending 78

CFPB Monitor

NOVEMBER 1, 2021

With help from Ballard Spahr colleagues Mindy Harris and Ron Vaske, I have now completed a months-long project in updating and expanding a 2017 White Paper addressing bank-model lending—programs involving partnerships between banks (or savings associations) and fintech or other nonbank companies in the interstate delivery of loans.

Lending 78

Lending Maryland FDIC Analysis 78

Independent Banker

NOVEMBER 13, 2014

If you’re not comfortable lending against devices or machines, you might be if you can confirm they are continually in use and generating revenue,” O’Connell says. Michael Blankenheim is a freelance writer in Maryland. Both scenarios would communicate possible financial needs of the bank and its customers. “If

Community Bank 71

Community Bank Community Maryland System 71

PYMNTS

SEPTEMBER 22, 2017

We’ve got lots of pieces now that, say dynamism, has gone down a lot since 2000,” said John Haltiwanger, a University of Maryland economist who has done much of the pioneering work in the field. Startup formation has gone down a lot since 2000, especially in the high-tech sectors, and there are increasingly strong links to productivity.”.

US 108

US Apple Innovation Regulation 108

Fintech Labs Insights

FEBRUARY 24, 2016

Lending Club opens to retail investors in Maryland and North Dakota, bringing its total to 45 states & Washington D.C. Peel Hunt Technology Sector Report highlights Featurespace. ThreatMetrix Enters Into Agreement with FUJI SOFT to Provide Online Fraud Solutions to Japan.

North Dakota 12

North Dakota Maryland Washington Lending 12

PYMNTS

JANUARY 30, 2018

Maryland Representative Elijah Cummings and California’s Representative Jimmy Gomez, in an open letter to BoA CEO Brian Moynihan, said that many low-income American families rely on the account. Customers can also keep a daily balance of $1,500 to avoid fees. Those who do not meet those criteria will pay a $12 monthly fee.

America 109

America Maryland FDIC Millennials 109

Jeff For Banks

DECEMBER 19, 2015

The Company's residential mortgage division, headquartered in Atlanta, has lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio. Which is interesting because Coastal is headquartered in Beaufort, South Carolina. But I digress.

North Dakota 60

North Dakota Arizona Michigan Florida 60

Fintech Labs Insights

NOVEMBER 12, 2015

Lending marketplace targeting Hispanic-owned small businesses. HQ: National, Maryland. Tags: SMB, lending, lead gen, price comparison, commercial loans. Source: Crunchbase. Bread Finance. Unsecured consumer financing of purchases. Latest round: $14.3 million Series A. Total raised: $14.3 HQ: New York City. Mobile bank.

New York City 12

New York City Company Fintech San Francisco 12

Fintech Labs Insights

JUNE 6, 2016

HQ: Glenwood, Maryland. Tags: Consumer, collectibiles, investing, asset based lending, artwork. Latest round: $188 million Debt (for AvantCredit UK). Total raised: $1.92 billion ($654 million Equity, $1.26 billion Debt). HQ: Chicago, Illinois. Source: Crunchbase. Bridge2Solutions. Latest round: $35 million Series A. Capital Float.

Company 12

Company Fintech San Francisco New York City 12

Fintech Labs Insights

OCTOBER 26, 2015

HQ: Burtonsville, Maryland. Lending to bootcamp students. Marketplace lending platform. Tags: Consumer, financing, B2B2C, indirect lending, loans, underwriting, in-store POS, Finovate alum. Here are the deals from Oct 17 to 24, by size: Auxmoney. P2P loan platform. Latest round: $170 million Series C. Source: Crunchbase.

Company 12

Company Fintech California North Carolina 12

Independent Banker

MARCH 15, 2015

As an example, “If X goes into effect, it would decrease my mortgage lending by X percent.”. Michael Blankenheim is a freelance writer in Maryland. When contacting or meeting with a lawmaker, provide specific evidence or real-world examples to as to why you think he or she should support or oppose a piece of legislation.

Community 70

Community Washington Community Bank Meeting 70

Fintech Labs Insights

MARCH 1, 2016

HQ: Annapolis, Maryland. Tags: Consumer, lending, loans, underwriting, Equitable Bank (investor). Here are the fintech deals by size from 20 Feb to 26 Feb 2016: LoanZen. Receivables financing for small business. Latest round: Undisclosed Seed. Total raised: Unknown. HQ: Bangalore, India. Source: Crunchbase. Latest round: $1.5

New York City 12

New York City Company Fintech San Francisco 12

Independent Banker

APRIL 30, 2022

In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. based bank attributes its growth to a hot housing market, its focus on builder and home mortgage lending, and the economic success in its markets. “We

Community Bank 172

Community Bank Community Montana Taxes 172

PYMNTS

MARCH 28, 2016

The rest was related to bill payment, payday lending and remittances). Ironically, the places with the highest check cashing fees are Maryland and Washington, D.C.). Of that $106 billion, $58.3 billion was related to check cashing transactions, another $17.6 billion in money orders and $5.4 billion in prepaid cards.

US 100

US Payments Course System 100

Abrigo

OCTOBER 31, 2022

Real estate lending BSA training should include GTO guidance , specifically on how to identify red flags at loan origination. Real estate lending BSA training should include the GTOs guidance. FinCEN reissued Geographic Targeting Orders to include two new metropolitan areas. to ensure the detection of these transactions. learn more.

New York City 195

New York City Las Vegas District of Columbia San Antonio 195

Independent Banker

JULY 31, 2022

Crowe’s Grottke points that the “graying of community bankers” exacerbates the talent shortage—and can make it difficult to increase profitability by taking advantage of growth areas like commercial lending. Elizabeth Judd is a writer in Maryland.

Strategy 135

Strategy Community Bank Louisville Community 135

CFPB Monitor

SEPTEMBER 13, 2018

57, disapproving of the CFPB’s Bulletin 2013-2 regarding “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act.” The states whose AGs signed the comment letter are North Carolina, California, Illinois, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, and Virginia.

Rhode Island 60

Rhode Island District of Columbia North Carolina Vermont 60

CFPB Monitor

AUGUST 30, 2018

The states whose AGs signed the comment letter were North Carolina, California, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington.

Groups 68

Groups Rhode Island District of Columbia North Carolina 68