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Michigan’s November 2022 Ballot to Include Fair Lending Proposal Capping Payday Loan Interest Rates

CFPB Monitor

Michiganders for Fair Lending – the initiative’s sponsor – collected over 570,000 signatures of which it submitted (after a quality control process) 405,265. If passed, Michigan would join 18 states plus the District of Columbia that have capped payday loan rates at 36% APR or less.

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242 Startup Failure Post-Mortems

CB Insights

Fresco’s head of community marketing, Johnathan Hamiter, began sending employees private Slack messages saying funding seemed “pretty bleak” and encouraging them to look for other jobs. Imzy was created by former Reddit employees Dan McComas and Jessica Moreno as a safer, friendlier version of the popular community site. Around 4 p.m.,

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Entering the cannabis banking market

Independent Banker

While the legal status of banking cannabis-related businesses remains fuzzy at the federal level, community banks in some states are finding that, with proper controls, they’re able to enter this niche market and offer banking services to these local businesses. It’s a strategy that an increasing number of community banks are embracing.

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