CFPB Monitor
SEPTEMBER 10, 2020
Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.
MyBankTracker
AUGUST 5, 2020
PSECU is a Pennsylvania-based credit union with a digital-first approach that allows it to provide attractive products and services – rivaling the best on the market. And PSECU offers a long list of products that can rival the best on the market. Pennsylvania Recreation and Park Society Membership.
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Jeff For Banks
MARCH 31, 2018
According to the Investment Company Institute , money market funds stood at $2.8 And as the chart below shows, these funds are typically paying more than double the community bank money market account rate. I used Wells Fargo because it is a money market fund that I use. FDIC insured. trillion this week. By default.
CFPB Monitor
MARCH 15, 2022
Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.
Jeff For Banks
APRIL 29, 2021
I attended the Pennsylvania Bankers' Association Women in Banking Conference the next day. While seventy-five percent done with writing, I read Conscious Capitalism by John Mackey of Whole Foods Market and Raj Sisodia. The subtitle came from a virtual conference where Jelena McWilliams, the FDIC Chair, said those words.
CFPB Monitor
MAY 16, 2019
The Sanders Bill would implicitly repeal well-established doctrines under Section 85 of the National Bank Act (enacted in 1864) and its analogue provisions (enacted in 1980) that provide usury authority for other FDIC-insured banks and thrifts. That might reasonably be construed to mean the general usury law of the borrower’s home state.
Jeff For Banks
FEBRUARY 1, 2015
In the mid to late 1990''s, my employer, First National Bank of Maryland based in Baltimore, bought Harrisburg, Pennsylvania based Dauphin Deposit Bank. They didn''t even include bank in their marketing materials, leaving customers and potential customers wondering, who ? All Central Pennsylvania towns. I was on that team.
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