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

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.

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.

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.

Great Western agrees to buy Colorado trust business

BankThink

M&A Community banking Asset management ColoradoIndependent Bank in Texas, the seller, gained the business after buying Guaranty Bancorp.

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.

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 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.

BOK rebranding in Arizona, Colorado in wake of CoBiz purchase

BankThink

Community banking Integrations Branding Branch banking Oklahoma Colorado ArizonaThe regional bank is putting its corporate stamp on branches in the two states.

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.

Guaranty fills Colorado gap with latest bank acquisition

BankThink

The company will add two branches between Denver and Colorado Spring by buying the deposit-rich Castle Rock Bank. Community banking M&A Capital Colorado

Better late than never: Colorado bank exits Tarp

BankThink

Capital Community banking TARP ColoradoGrand Mountain Bank raised $7 million to help it exit the crisis-era capital program.

Deal will beef up Glacier's presence in Colorado

BankThink

The Montana company has agreed to buy Columbine Capital in a deal that will add five branches and $330 million in loans in Colorado. Community banking M&A Capital Montana Colorado

First Internet to buy SBA platform from Colorado bank

BankThink

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal. Community banking M&A Small business lending SBA Indiana

Sturm Financial in Colorado taps president as its next CEO

BankThink

Succession planning Growth strategies Commercial banking ColoradoKoger Propst was also named CEO of the company's $2.6 billion-asset ANB Bank.

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

Fifth Third eyes middle market in Texas, Colorado

BankThink

CEO Greg Carmichael says the Cincinnati bank will hire bankers in Denver, Dallas and Houston as part of a broader expansion into fast-growing markets that are home to lots of midsize firms. It is also interested in buying more fee-based businesses. Commercial lending Commercial banking M&A Branch banking Fee income Earnings Greg Carmichael Fifth Third

Colorado raises the stakes in lawsuit against marketplace lenders

BankThink

The state has expanded the scope of ongoing legal actions against Avant and Marlette to include several securitization trusts and trustees. Midland Funding v Madden Marketplace lending

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.

Colorado, Arizona OK board compensation

CU Insight

Colorado and Arizona recently joined the growing number of states that allow state charted credit unions the controversial option of compensating board members. The post Colorado, Arizona OK board compensation appeared first on CUInsight.

BayCom to enter Denver with TIG Bancorp acquisition

BankThink

million for the parent of First State Bank of Colorado. Community banking M&A Capital Colorado CaliforniaThe California company will pay $39.4

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.

Online lenders spooked by Colorado's tough stance on interest rates

BankThink

Digital lenders have been partnering with banks to get around state-by-state usury caps, but that approach is facing tougher scrutiny. Marketplace lending Court cases Enforcement Law and regulation State regulators Avant WebBank

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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Independent in Texas to shutter branches as part of Guaranty acquisition

BankThink

The company will close a dozen branches, including eight in Colorado. Community banks Strategic buyers Growth strategies Colorado

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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

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.

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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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.

Heartland expanding in Colorado by agreeing to buy Citywide Banks

BankThink

Heartland will gain 12 branches around Denver and Boulder after it buys the $1.4 billion-asset Citywide. M&A Integrations Growth strategies

A way to protect pot lenders: Spotting high energy users

BankThink

Marijuana banking Cannabis Regtech Fintech ColoradoA fintech called NCS Analytics wants to analyze power-use data at cannabis businesses for banks that finance them. It says the information can help expose illegitimate activity.

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.

California bank is working with fintech firm to help business clients

BankThink

Fintech Community banking Small business lending California ColoradoPacific Mercantile and P2Bi are collaborating on a program to help businesses that are not ready for traditional bank financing.

Partner Colorado Credit Union launches cannabis banking CUSO

CU Insight

Partner Colorado Credit Union today announced the creation of Safe Harbor Services, LLC, which will sell and distribute the credit union’s Safe Harbor cannabis banking program. The post Partner Colorado Credit Union launches cannabis banking CUSO appeared first on CUInsight.

Mergers stir up competition in Denver banking market

BankThink

Community banking M&A Commercial lending Colorado New MexicoThe Mile High City has been disrupted by a number of big M&A deals, providing an opening for other banks to benefit.

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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Bank IPO market stays hot with two more filings

BankThink

First Western in Colorado and Coastal Financial in Washington are the latest banks to disclose plans to go public. Community banking IPOs M&A Growth strategies Colorado Washington

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

BOK Financial to buy CoBiz Financial for nearly $1 billion

BankThink

Community banking M&A Growth strategies Capital Oklahoma ColoradoThe deal for the Denver commercial lender joins a growing list of large acquisitions being announced in competitive urban markets.