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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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State Regulation, Conference of State Bank Supervisors, Financial Services, FinTech, Charles Clark, Washington State Department of Financial Institutions, License, Regulation, Bank of Indonesia, FinTech, Bitcoin, Cryptocurrency, News

PYMNTS

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. Can the states make licensing – of the money movement kind – any easier?

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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.

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Cash-Strapped Entrepreneurs Squeezed Out Of Marijuana Business

PYMNTS

Tight regulations around the legal marijuana industry are barring non-wealthy entrepreneurs from entering the market, according to reports from Forbes on Wednesday (June 13). Reports also highlighted the successful and wealthy back stories of some of the nation’s current leading marijuana businesses.

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CFPB’s Taskforce on Federal Consumer Financial Law releases report

CFPB Monitor

The Taskforce was charged with examining the existing legal and regulatory environment for consumers and financial services providers and making recommendations to the Bureau’s leadership for improving consumer financial laws and regulations. The report consists of two volumes. Equal access to credit.

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The Case For Localizing Mom-And-Pop Investment

PYMNTS

“Being in Boston, Massachusetts, I’m much less likely to invest in a restaurant in Oklahoma if the same business was right next to me,” Mathews said. In this effort, the platform is turning to regional and national economic development organizations to promote education on both sides.

Capital 145
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Guest Post: Third Quarter Economic Update by Dorothy Jaworski

Jeff For Banks

It seems to me that reducing burdensome regulations and not implementing harsher capital requirements would be more effective alternatives to incentivize lending than pushing all yields toward zero while buying up all of our bonds. Maybe it is nationally, but Bucks County (PA) has yet to participate. 6% and 1.2%