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

Elevations Credit Union agrees to buy Colorado bank

BankThink

Community banking M&A Credit unions ColoradoElevations' purchase of Cache Bank & Trust would be the first credit union purchase of a bank in the state.

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.

Colorado voters approve 36% interest cap on payday loans

BankThink

The passage of Proposition 111, which also prohibits lenders from adding origination and monthly maintenance fees, makes Colorado the fifth state to impose caps on payday loans through a voter referendum. Payday lending Consumer lending Law and regulation 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 to Governor of Colorado.

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 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.

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?

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.

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

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

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.

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

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.

31 Best Things to Do in Colorado Springs – Activities & Attractions

Money Crashers

Colorado Springs, also known as “The Springs” or “COS,” is Colorado’s second-largest city. Pikes Peak, one of Colorado’s tallest, towers 8,000 feet above the city. It’s clearly visible for miles around… 31 Best Things to Do in Colorado Springs – Activities & Attractions is a post from Money Crashers.

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

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.

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.

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

Colorado's Payday Loan Reforms Offer Blueprint for CFPB

BankThink

The CFPB has a historic opportunity to fix the small-dollar loan market by emulating Colorado''s reforms. That would mean requiring all payday lenders to offer affordable installment payments and cracking down on deceptive practices like loan flipping. law-regulation

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.

Partner Colorado CU Ups High-Interest Checking To 3.50% APY

Deposit Accounts

Offers & Promotions Partner Colorado Credit Union Credit Union Information Page | Receive Alerts for this Credit Union. Partner Colorado CU Ups High-Interest Checking To 3.50% APY POSTED ON WEDNESDAY, MAY 15, 2019 BY Ken Tumin Deal Summary: High-Interest Checking, 3.50% APY on qualifying balances up to $10k. Earlier this month, Partner Colorado Credit Union (Partner Colorado) raised the rate on its High-Interest Checking account to 3.50% APY on qualifying balances up to $10k.

Colorado Regulator Approves Expansion in Ent's Community Charter

Keith Leggett's Credit Union Watch

The Gazette is reporting that the Colorado Division of Financial Services approved the addition of six counties to the field of membership of Ent Credit Union (Colorado Springs, CO). The credit union's service area encompasses 14 Colorado counties with more than 4.5 The approval adds Adams, Weld, Boulder, Broomfield, Elbert and Larimer counties to the credit union's service area. The addition of the six counties increases Ent’s potential membership base by 1.57

Colorado Is No Model for a National Payday Rule

BankThink

Colorado''s interest rate cap on payday lending has successfully brought down costs for borrowers, but the state continues to experience unacceptably high default rates. consumer-finance

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.

Cards 245

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

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

Texas 55

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.”.

Retail 229

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.

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.

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

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

Colorado Federal Savings Bank Boosts Premier Savings To 1.65% APY

Deposit Accounts

Offers & Promotions Colorado Federal Savings Bank Bank Information Page | Receive Alerts for this Bank. Colorado Federal Savings Bank Boosts Premier Savings To 1.65% APY POSTED ON WEDNESDAY, DECEMBER 6, 2017 BY Ken Tumin Deal Summary: Premier Savings, 1.65% APY, $50k minimum deposit, new customers only. In the past three weeks, Colorado Federal Savings Bank’s (CFSB) new Premier Savings account has experienced two rate increases, which added a total of 75 bps to its APY.

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

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.

Morning Scan: Ally Financial's Leadership Shakeup; Colorado Pot Lenders

BankThink

Receiving Wide Coverage. Ally''s Shakeup: The New York Times and the Wall Street Journal both take a closer look at the leadership shakeup at Ally Financial. Unnamed sources tell the Times that former Ally Financial CEO Michael Carpenter was politely shown the door because the Ally board was frustrated the company had "stagnated" during his tenure and Carpenter appeared to "lack the vision" needed to dig the bank out of its rut. Furthermore, Carpenter wasn''t. national-regional