Colorado’s Marijuana Industry Tops $6B

PYMNTS

The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. Last year, regulated marijuana sales in Colorado were nearly $1.55 To date, marijuana tax, license and fee revenue totals for Colorado are over $927 million. Retail California Cannabis Colorado Marijuana News revenue sales taxes What's Hot

Bitcoin Daily: Bitcoin Price Rises Above $12K For 30 Minutes; Colorado Lottery Partners With Chainlink For Contest

PYMNTS

The Colorado Lottery is partnering with Chainlink and ETHDenver for a new contest “to create new Lottery games that will excite and entertain a new, broad and diverse group of Coloradans to engage them in supporting the great outdoors and schools,” a press release says.

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Online lenders reach landmark settlement with Colorado

American Banker

Consumer lending Fintech Colorado Law and regulationUnder the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

Inside The Launch Of Colorado’s New State-Run Digital Driver’s License

PYMNTS

How Colorado Enabled Digital Driver’s Licenses With The myColorado App. The state of Colorado is one of 12 states currently developing a digital driver’s license program, with the launch of its myColorado app in October.

Colorado’s new auto-renewal law

CFPB Monitor

Businesses with automatic renewal contracts—including subscriptions—should take note of Colorado’s new law that went into effect earlier this year on January 1, 2022. The Colorado law also prohibits use of a link to present the offer unless it clearly discloses that it is a renewal contract.

This week’s podcast episode: A conversation with special guest Phil Weiser, Colorado Attorney General

CFPB Monitor

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. State Enforcement colorado weiser

Bitcoin Daily: US Regulators Join Global Financial Innovation Network; Colorado Explores Crypto Banking For Cannabis Firms

PYMNTS

In other news, proposed legislation from Colorado might aim to help crypto companies and cannabis companies obtain bank accounts, with former members of Colorado’s Blockchain Council meeting earlier this month to work on a bill that would authorize the creation of special-purpose banking institutions in the state. Colorado’s bill does have support from some lawmakers. “My

Colorado Issues Student Loan Servicer License Applications

CFPB Monitor

The Colorado Attorney General’s Office recently published licensing applications for entities that are engaged in servicing student loans owed by Colorado residents. Under the Colorado statute, student loan servicers must be licensed by January 31, 2020.

Colorado passes 36% payday loan rate cap

CFPB Monitor

By an overwhelming vote (approximately 1,4270,000 million to 433,000), Colorado voters passed Proposition 111, a ballot initiative that places a 36 percent APR cap on payday loans. The question presented to voters was: Shall there be an amendment to the Colorado Revised Statutes concerning limitations on payday lenders, and, in connection therewith, reducing allowable charges on payday loans to an annual percentage rate of no more than thirty-six percent?

State regulator in Colorado blocks credit union's planned bank purchase

American Banker

The Colorado Banking Board may be the first regulator to ever block a credit union-bank merger. M&A Growth strategies Community banking State-chartered credit unions State regulators Colorado

Ashley Comstock, Vectra Bank Colorado | Next 2022

American Banker

Industry News Women in Banking Women in Banking: Next 2022

Colorado Just Elected a Tech-Savvy Governor Who Takes Blockchain Seriously

Bank Innovation

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 […]. Compliance Cryptocurrency Daily Post 1 Exclusive Payments Premium Bitcoin Blockchain

Colorado Settlement Opens Door For Fintech Lenders

Banking Exchange

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.

Colorado Administrator proposes amendments to debt collection rules

CFPB Monitor

Colorado’s UCCC Administrator has proposed amendments to the rules implementing the Colorado Fair Debt Collection Practices Act (CFDCPA). Debt Collection Regulatory and Enforcement colorado debt collection

Colorado Credit Union makes retention a top priority

American Banker

Credit unions Employee engagement Employee retention Best Credit Unions to Work For 2022

Colorado banking group asks state regulator to halt credit union-bank deal

American Banker

The Colorado Bankers Association claims that state law bars Elevations Credit Union from buying Cache Bank & Trust. Community banking Credit unions M&A Colorado

Second Amazon 4-Star Store Set To Open In Colorado

PYMNTS

Amazon.com is gearing up to open an Amazon 4-star store in Colorado later Thursday (November 1). According to a report in CNET citing Amazon, the second 4-star store will be located in Park Meadows mall in Lone Tree, Colorado, just outside of Denver. The store will hawk products that are rated 4 stars or higher on Amazon, are from top sellers on its platform or are trending on Amazon. The first 4-star store opened its doors in New York City in September. “We

Colorado Just Elected a Tech-Savvy Governor Who Takes Blockchain Seriously

Bank Innovation

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, […]. Compliance Cryptocurrency Daily Post 1 Daily Post 4 Exclusive Payments Premium Bitcoin Blockchain

Inside Colorado’s New State-Run Digital Driver’s License App

PYMNTS

PYMNTS recently spoke with Russell Castagnaro, director of digital transformation at the Colorado Governor’s Office of Information Technology , about the app’s development, and how it addresses Coloradans’ concerns regarding security and privacy. but Colorado will be there.”.

Colorado Banking Regulator Denies Community Bank Acquisition by Credit Union

ABA Community Banking

The Colorado State Banking Board today denied the sale of a Colorado community bank to one of the state’s largest credit unions. The post Colorado Banking Regulator Denies Community Bank Acquisition by Credit Union appeared first on ABA Banking Journal.

Colorado Federal Savings Bank 12-Month CD Nears Top Rate

BankDeals

Colorado Federal Savings Bank (internet bank) recently raised the rate on its 12-month CD to very competitive level. $5k 5k minimum opening deposit

Partner Colorado CEO stepping aside to focus full-time on pot banking

American Banker

Pot Banking Career moves Credit unions Colorado Succession planningSundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space.

New payday loan rate cap goes into effect in Colorado

CFPB Monitor

As discussed in an earlier post , on November 6, 2018, Colorado’s voters passed Proposition 111 , seeking to limit interest rates and fees charged on payday loans in Colorado to an annualized percentage rate of thirty-six percent. Effective February 1, 2019, the proposition amends Colorado’s Deferred Deposit Loan Act (C.R.S. Lenders who originate payday loans should be mindful of the application of Colorado’s new rate cap.

Colorado Private Education Lender Registration Takes Effect September 1, and Schools Using Income Share Agreements Are Covered

CFPB Monitor

It’s unclear whether the Department will now seek to regulate (i) other ISA funders, holders, and assignees under the Student Loan Equity Act , (which enacted the private education lender registration) and (ii) ISA servicers under the Colorado Student Loan Servicing Act.

National Bank in Colorado joins growing list of banks closing branches

American Banker

Colorado Branch network Revenue and expenses Community banksThe company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology.".

Credit union to buy Colorado branches from Liberty Savings

American Banker

Community banking Credit unions M&A Branch deals Colorado Ohio WyomingBlue Federal Credit Union in Wyoming will also gain about $100 million in deposits.

Colorado Attorney General Bans Financial Services Companies from State for Alleged Conflict of Interest

CFPB Monitor

The Colorado Attorney General reached a $175,263 settlement with a lender and a debt management company that are owned and operated by the same individuals. The Colorado Attorney General alleged the companies violated Colorado law when the lender issued loans to customers of the related debt management company. Colorado law prohibits debt management companies from offering loans through a related company due to the risk of a conflict of interest.

CFPB sues Colorado debt seller execs for alleged deceptive practices

American Banker

Consumer lending Regulation and compliance

This week’s podcast: An interview with Colorado Attorney General Phil Weiser

CFPB Monitor

COVID-19 Regulatory and Enforcement State Enforcement colorado weiserWe explore a wide range of topics with AG Weiser including: who are his key staff members and their backgrounds; his office’s actions in response to COVID-19; recent changes to the CO Consumer Protection Act; and his office’s activities concerning student loans, robocalls, payday lending, and data privacy and security and its approach to consumer complaints. Click here to listen to the podcast.

Sooper Credit Union in Colorado names new CEO

American Banker

Credit unions Industry News Women in Banking

Colorado Federal Savings Bank No Penalty CD Is A Rate Leader

BankDeals

Colorado Federal Savings Bank (internet bank) has raised the rate on its 11-month No Penalty CD for the fourth time in four months. $5k 5k min deposit. Early closure only

Colorado state court rules federal interest rate preemption for state bank loans does not extend to non-bank assignees; Ballard Spahr to hold June 19 webinar

CFPB Monitor

A Colorado state district court has ruled that a non-bank assignee of loans made by a state bank cannot charge the same interest rate that the state bank assignor can charge under Section 27(a) of the Federal Deposit Insurance Act (12 U.S.C.

Colorado Enacts Student Loan Servicer Licensing Law and Maryland Expands Regulation of Servicers

CFPB Monitor

Colorado and Maryland have each enacted legislation regulating student loan servicers. On May 13, Colorado Governor Jared Polis (D) signed into law SB 19-002 , and that same day, Maryland Governor Larry Hogan (R) signed HB 594. Titled the “Colorado Student Loan Servicers Act,” SB19-002 will require servicers of education loans owed by Colorado residents to be licensed by Colorado’s Uniform Consumer Credit Code (UCCC) Administrator.

The District Credit Union in Colorado names new CEO

American Banker

Credit unions Industry News

Colorado credit unions face another setback in bid for public deposits

American Banker

Credit unions Law and regulation