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Small Business Borrower Sues Kabbage

PYMNTS

A small business (SMB) in Massachusetts borrowing funds via marketplace lender Kabbage has sued the platform, igniting new debate in the conversation over the definition of a “true lender,” according to reports in the National Law Review on Tuesday (Oct. and Celtic Bank in a federal court in Massachusetts.

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

The company has a partnership with Amazon in which it lends to customers with low credit scores. “We have confirmed none of your personal data was compromised,” the financial services company said in an email to customers. In other Amazon news , the eCommerce giant is opening a store on the Chinese site Pinduoduo.

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Podcast: How Multigenerational Directors and Engaged Employees Drive Bank Independence

ABA Community Banking

For nearly 200 years, Millbury National Bank has stayed independent as a commercially focused community bank in Massachusetts. Part of that independent tradition owes to the bank's history of multigenerational stewardship.

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Could Loophole Help Explain Rise in Credit Unions' Business Lending?

American Banker

A study commissioned by the Massachusetts Bankers Association found a correlation between a spike in credit unions with low-income designations and an increase in member business lending in the state.

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Regulatory and litigation risks to consumer financial services providers highlighted in Ballard Spahr webinar on COVID-19 crisis fallout

CFPB Monitor

Mr. Roddy discussed the emergency debt collection regulation issued by the Massachusetts AG and the possibility of state UDAP claims based on collection activities during the crisis. All of the speakers stressed the need for companies to identify potential sources of risk in their operations and attempt to address those risks in advance.

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Cash-Strapped Entrepreneurs Squeezed Out Of Marijuana Business

PYMNTS

. “Many groups that were granted licenses in the first application round in Massachusetts in 2014 are still not open today, largely due to the inability to find the $4 million to $6 million minimum needed for a large-scale, vertically integrated cannabis operation,” the publication wrote.

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Bankers and Strategic Bets. A Slow Embrace.

Jeff For Banks

billion in assets Massachusetts bank developed Zrent so it's landlord customers could more efficiently collect rent from tenants. SunTrust - Developed Lightstream , a national online lending platform to provide consumer loans for practically any purpose. Leader Bank - A $1.2

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