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

PYMNTS

Colorado’s bill does have support from some lawmakers. “My My sense is that we will continue to support blockchain industry growth in the Colorado economy while at the same time look within our own government sector for practical blockchain applications that warrant funding,” State Sen.

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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.

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

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.

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 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

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.

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.

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.

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.

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?

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. Colorado law prohibits debt management companies from offering loans through a related company due to the risk of a conflict of interest.

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 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. State CFS Monitor Student Loans colorado Maryland

Colorado bank savvy on social

ABA Community Banking

Tip #1: It’s not all about your bank—even when it’s about your bank Retail Banking Blogs Social Media Channels. 1Social Media

This week’s podcast: expectations for Colorado’s new Democratic Attorney General, Phil Weiser

CFPB Monitor

Having declared the CFPB eviscerated by President Trump, Colorado’s newly elected Democratic Attorney General, Phil Weiser, is expected to take an active approach to consumer protection. State CFS Monitor colorado weiserIn this week’s podcast, Ballard Spahr Partner Matt Morr, based in the firm’s Denver office, discusses Mr. Weiser’s background, key appointees, and likely areas of focus. To listen to the podcast, click here.

London FinTech Glint Pay Launches Gold-Backed Debit Card

PYMNTS

office is in Boulder, Colorado. Digital Banking Colorado debit card FinTech Glint Pay gold london MasterCard News Sutton Bank What's HotA company called Glint Pay has launched a debit card that’s backed by gold instead of currency, according to a report in The Denver Post.

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OCC and FDIC file joint amicus brief urging Colorado federal district court to reject Madden

CFPB Monitor

CMS), a Colorado-based corporation. The Debtor filed a complaint in the bankruptcy court seeking to disallow the Assignee’s claim on the grounds that the interest rate on the loan was usurious under Colorado law.

Legal Pot Starts Pulling Its Retail Weight

PYMNTS

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.”.

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Colorado AG issues administrator’s opinion on what constitutes collateral with respect to alternate charge consumer installment loans

CFPB Monitor

In a January 4 posting , Colorado’s outgoing Attorney General, Cynthia Coffman, issued an administrator’s opinion as to whether Section 5-2-214 of the Uniform Consumer Credit Code prohibits supervised lenders from utilizing post-dated checks, debit authorizations, and other forms of up-front payment authorization, as security for payment of “alternate charge” consumer installment loans.

Colorado Division of Securities stops ICOs for alleged illicit practices

The Paypers

(The Paypers) The Colorado Division of Securities has filed cessation orders against four Initial Coin Offerings (ICOs) allegedly involved in fraudulent practices

Top News In Payments: Wells Fargo Appoints COO; Visa Names New Partners To Help FinTechs

PYMNTS

Inside The Launch Of Colorado’s New State-Run Digital Driver’s License. Colorado is one of 12 states currently developing a digital driver’s license program, with the October rollout of the myColorado app.

The Fed's Cold Comfort To Colorado MJ Businesses

BankersHub

She was invited to meet with Colorado Representatives Polis and Perlmutter, who''ve been trying to find a way around the inconvenient fact that what might be legal in Colorado in the way of raising, refining, and selling marijuana for recreational use is still a violation of Colorado criminal laws, as is the handling of funds derived from such illegal activities by banks.

Uber App Now Offers Public Transport Tickets For CO Riders

PYMNTS

Uber is rolling out more ways to get around with expanded train and bus tickets for its customers in Denver, Colorado. Ridesharing Colorado Mobile Payments News public transport transportation Uber What's Hot

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Guaranty to Buy Home State Bancorp in Colorado

American Banker

Guaranty Bancorp in Denver has agreed to buy Home State Bancorp in Loveland, Colo., for $133.7 million in cash and stock. The deal is expected to close in the summer. breaking_news community-banking co dealmaking-strategy

Triumph in Texas to Buy ColoEast in Colorado

American Banker

Triumph Bancorp in Dallas has agreed to buy ColoEast Bankshares in Lamar, Colo. community-banking tx breaking_news dealmaking-strategy

What happens to a small restaurant when cash falls out of fashion

Payments Source

Mobile payments Mobile point-of-sale Point-of-sale Retailers Cash ColoradoPayments innovation is happening in small businesses like Rio Grande Mexican Restaurant, which has to manage a shift in how people shop, order, pay and communicate — all at the same time.

Why CU Anschutz Medical Campus Migrated to Google Cloud

Perficient Financial Servies

Our healthcare team has been working with the University of Colorado over the past couple of years to overcome critical data challenges in healthcare… and the results are exciting.

University of Colorado and Jaggaer boost strategic supplier programme

The Paypers

(The Paypers) University of Colorado has announced the development of a strategic supplier partner programme employing Jaggaer solutions

NEW REPORT: Why International Students Must Major In X-Border Tuition Payments

PYMNTS

Among these schools is the University of Colorado Denver , a public institution that hosts international students from 73 countries. Many U.S. colleges and universities are eager to roll out the red carpet to recruit international students – and why not?

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Uber Of X: Rent-A-Ref, Sports Officials For Any Game Or Tournament

PYMNTS

Based out of Riverside, California, the website (and soon-to-be mobile platform) has been working with leagues all over the state, as well as in Colorado, New York, New Jersey, Massachusetts, Illinois, Wisconsin and Texas. uber of x California Colorado Illinois Massachusetts new jersey New York referee referees rent-a-ref Texas Uber of X What's Hot WisconsinPerhaps the most overlooked person in any sport is the most important one: the referee.

How the payments industry came to accept legal marijuana

Payments Source

Compliance Payment processing ColoradoOnce a relationship built on deceit, U.S. marijuana businesses and banks have begun opening up to one another to smooth the compliance burden of processing payments for the legal cannabis industry.

Pew Charitable Trusts to host event on Ohio payday lending law

CFPB Monitor

Last week, Colorado voters passed a ballot initiative that places a 36 percent APR cap on payday loans.). Payments State CFS Monitor State regulation colorado ohio payday loanThis afternoon, Pew Charitable Trusts will host an event in Washington, D.C. focusing on Ohio’s Fairness in Lending Act. Enacted in July 2018, the Act places new limitations on payday loans including an interest rate cap, a limit on the total cost of a loan, and other structural restrictions.

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This week’s podcast: expectations for Nevada’s new Democratic Attorney General

CFPB Monitor

Earlier this month, we released a podcast in which we discussed our expectations for Colorado’s newly-elected Democratic Attorney General. State CFS Monitor attorney general colorado nevadaThe “Blue Wave” hit Nevada last November as well, resulting in the election of Democrats to serve as Governor and Attorney General. More aggressive enforcement and increased legislative activity are expected.

Court Denies Pot Credit Union Access To Banking System

New York's State of Mind

Compliance Legal Watch a Colorado state-chartered credit union Plaintiff THE FOURTH CORNER CREDIT UNION v. Concluding that existing federal guidance does nothing more than encourage financial institutions to “look the other way” when it comes to complying with federal laws that make the possession and sale of marijuana illegal. a federal judge on Tuesday dismissed a credit union’s attempt to force the federal Reserve Bank of Kansas to allow it to […].

How Your Bank Approval Process Hinders Innovation

Banker to Banker

Take your well-outdoor trained city dweller and then put them into the middle of the Colorado Rockies, chances are they become bear-food in a week. If you want a more innovative bank, it starts, and largely stops, with what your approval process looks like for new technology.

Temenos Expands U.S. Footprint with $245 Million Acquisition of Avoka

Bank Innovation

Banking software provider Temenos announced Wednesday it will acquire Avoka, a Colorado-based firm focused on digital customer acquisition and onboarding, for $245 million.

Platforms Going Modular as Banks Seek Differentiation and Efficiency

Bank Innovation

Avoka, a Colorado-based software company focused on customer acquisition and onboarding, commissioned the study on platform economics.

Platforms Going Modular as Banks Seek Differentiation and Efficiency

Bank Innovation

Avoka, a Colorado-based software company focused on customer acquisition and onboarding, commissioned the study on platform economics.

The United States Of Food: The Most Well-Funded Food & Beverage Startups In Each State

CB Insights

Alternative hotspots have sprung up — Colorado, for example, due in part to the influence of Colorado-based food investors such … Continued. While tech startups have always been concentrated in Silicon Valley, new food and beverage companies are a little more diffused. CPG Food Tech

Aftermath of DOJ marijuana shift

ABA Community Banking

For now, it's “business as usual” for Colorado credit unions that serve cannabis industry Compliance BSA/AML Management Lines of Business. 1Compliance

Today In Data: How Governments Are Strengthening Crypto Regulation

PYMNTS

In retail news, the legal cannabis industry is evolving in Colorado with the state’s licensed businesses. The Data: 2,917: Number of licensed marijuana businesses in Colorado.