CFPB Monitor

JUNE 21, 2023

In dismissing a class action last month alleging violations of the Military Lending Act (“MLA”), a federal court in Virginia held that MLA’s two-year statute of limitations is triggered by discovery of the facts underlying the violation, not by discovery that the statute had been violated.

Virginia 78

Virginia Lending Report 78

Independent Banker

OCTOBER 1, 2022

The West Virginia community bank is helping small-business customers get the financing they need while continually seeking new ideas to plan for its own future. Clear Mountain Bank is embracing flexibility, innovation and collaboration as it continues its ascent as a small-business connector in West Virginia. By Mindy Charski.

West Virginia 91

West Virginia Virginia Community Bank Community 91

American Banker

DECEMBER 15, 2020

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices.

Virginia 78

Virginia Lending Fintech Meeting 78

Abrigo

JUNE 2, 2015

Overall auto lending at credit unions is up more than 30 percent in recent years, a positive sign that CUs remain competitive in an evolving banking landscape. Utilizing the Sageworks Bank Information platform, Sageworks recently examined how steadily auto lending at credit unions – specifically for new vehicles – grew in 2014.

Lending 150

Lending San Antonio CA Sacramento 150

PYMNTS

AUGUST 30, 2020

The Small Business Administration (SBA) awarded $770 million to RER Solutions , a Herndon, Virginia-based contractor, to process loans for businesses hurting under the economic strife of the pandemic, according to government filings. which owns Quicken Loans as well.

Ohio 271

Ohio Virginia Fraud Lending 271

American Banker

FEBRUARY 28, 2024

After Carter Bankshares sought to auction one of his properties, Gov. Jim Justice promised to "push back like you can't imagine."

West Virginia 36

West Virginia Virginia Community Bank Community 36

BankInovation

JUNE 24, 2021

While legal ideas of fairness in credit have been long established by fair lending laws, adding artificial intelligence (AI) into the mix can complicate matters.

Virginia 75

Virginia Lending Regulation 75

Independent Banker

DECEMBER 13, 2015

New Military Lending Act regulations kick in next fall. Following a three-year study on predatory lending, the U.S. Department of Defense has now issued the final rule to implement the Military Lending Act. Mary Thorson Wright , a former Federal Reserve managing examiner, is a financial writer in Virginia.

Lending 70

Lending Compliance Regulation Virginia 70

PYMNTS

FEBRUARY 6, 2018

Our first base of operations was my basement in Reston, Virginia.”. That rate, he noted, is based on more than mutual soldier loyalty, as StreetShares has other lending requirements. And so with his friend, former Capital One executive and former South African Air Force member Mickey Konson, he founded StreetShares , Inc. “We

Lending 119

Lending Virginia United States Capital 119

CFPB Monitor

MARCH 12, 2015

The CFPB has announced that it will hold a field hearing on payday lending on. March 26, 2015 in Richmond, Virginia. Payday Lending CFPB payday loan'

Lending 60

Lending Virginia Regulation Groups 60

American Banker

JANUARY 11, 2022

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West Virginia 56

West Virginia Kentucky Virginia Lending 56

PYMNTS

AUGUST 10, 2018

Curbside delivery is coming to the grocery chain, starting with two test runs — one in Virginia Beach one in Sacramento. Marketplace lending : Firms put up numbers amid earnings reports, showing traction in the model that online is the place to be. In any case, it will be a race worth watching, and one that is sizzling this week.

Lending 100

Lending New Hampshire Sacramento Online 100

Abrigo

FEBRUARY 10, 2021

You might also like this webinar, How the 2021 Roadmap for Producers will Influence Ag Lending. Stay up-to-date on the latest on ag lending trends. Examples include habitat banks KCoe Isom manages in West Virginia and Nevada with our cattle-ranching clients. Ag Lending. Lending & Credit Risk. Ag Lending.

Lending 195

Lending West Virginia Resources Operations 195

PYMNTS

DECEMBER 17, 2018

The Federal Reserve began raising interest rates about three years ago from almost zero, and after the financial crisis, many small and regional banks ramped up their lending with long-term and low-rate loans. The Southern National Bancorp of Virginia is now shelling out 2.25

Virginia 144

Virginia Lending New York National 144

American Banker

MARCH 4, 2016

Cordia Bancorp recently sold its student lending platform due to concerns about loan concentrations. In doing so, the Virginia company provided another example of why it is difficult for smaller institutions to gain traction in marketplace lending.

Lending 28

Lending Virginia Online Examples 28

Abrigo

DECEMBER 16, 2019

Summit Community currently expects to use a 12-month economic forecast for qualitative factors , basing the forecast on national economic data from the Federal Reserve’s Federal Open Market Committee and on subscription-based quarterly reports for its lending areas in Virginia and West Virginia. Lending & Credit Risk.

West Virginia 195

West Virginia Virginia Data Community 195

PYMNTS

SEPTEMBER 17, 2019

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

Ohio 151

Ohio Lending Iowa South Dakota 151

CFPB Monitor

JUNE 15, 2022

Specifically, SB 1235 defines a “provider” to include “a nondepository institution, which enters into a written agreement with a depository institution to arrange for the extension of commercial financing by the depository institution to a recipient via an online lending platform administered by the nondepository institution.”.

California 78

California Regulation CA Utah 78

PYMNTS

JUNE 24, 2016

This week it was Minnesota, and then yesterday Walmart really got warmed up and announced the expansion of their new payments service in: Michigan, Virginia, the Carolinas, Indiana, Iowa, Kentucky, Nebraska, North Dakota, South Dakota, Tennessee, Louisiana, Missouri, Mississippi and Washington, D.C. Online lending .

Lending 101

Lending Online South Dakota North Dakota 101

PYMNTS

MARCH 6, 2018

Last year, the Consumer Financial Protection Bureau and the Attorney General of Virginia took action against a pawnbroker in Virginia, ordering the business to pay restitutions to customers due to misinforming them of fees associated with loans. “That’s simply not true. We also more often deal with business owners that are growing.”.

Virginia 142

Virginia National Strategy Capital 142

American Banker

DECEMBER 7, 2020

The company hired two Atlantic Union bankers to run its bank and begin recruiting customers in and around Washington.

Virginia 41

Virginia Washington Company Strategy 41

CFPB Monitor

APRIL 22, 2019

This Wednesday April 24th, the Federal Deposit Insurance Corporation and Duke University’s Fuqua School of Business and Innovation and Entrepreneurship Initiative will host a conference titled “ Fintech and the Future of Banking ” in Arlington, Virginia.

FDIC 68

FDIC Conference Arlington Fintech 68

Abrigo

DECEMBER 26, 2014

Utilizing the Bank Information platform, Sageworks recently released a ranking of the top mortgage lending credit unions in the U.S. In a lending segment once cornered by banks, credit unions are making an impact for those looking to purchase their own home. Bruemmer, executive vice president for Landmark Credit Union.

Regional 188

Regional Milwaukee Lending Washington 188

CFPB Monitor

DECEMBER 21, 2016

The CFPB announced that it has sued four Virginia-based pawnbrokers in lawsuits filed in a Virginia federal district court for alleged violations of the Truth in Lending Act and the Consumer Financial Protection Act in connection with closed-end “pawn” loans made by the companies. Fredericksburg Pawn, Inc.

Virginia 60

Virginia Regulation Lending Company 60

American Banker

JANUARY 21, 2022

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Virginia 69

Virginia Compliance Lending Regulation 69

American Banker

JUNE 16, 2022

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Virginia 78

Virginia Lending Payments 78

PYMNTS

MAY 7, 2018

Turning to regulatory action within the online lending space, Virginia (the state) has filed a suit against NetCredit, with the allegation that the large lender had charged state lenders more than $47 million in high-interest loans that were in fact illegal.

Bitcoin 108

Bitcoin Regulation cryptocurrency Virginia 108

American Banker

APRIL 20, 2016

An online student loan refinancing business that was recently spun off from a Virginia bank has been rebranded as Purefy Inc.

Online 28

Online Virginia Lending Digital Banking 28

CFPB Monitor

MARCH 30, 2015

On March 26, the CFPB held a public hearing on payday and auto title lending, the same day that it released proposed regulations for short-term small-dollar loans. The Commissioner of Virginia’s Bureau of Financial Institutions, E. Michael Calhoun, President, Center for Responsible Lending.

Virginia 60

Virginia Lending Regulation America 60

FICO

DECEMBER 4, 2020

The FICO® Score 10 Suite outperforms all previous FICO Scores, giving lenders unparalleled predictive power to make more precise lending decisions. The FICO® Score 10 Suite, which includes FICO Score 10 and FICO Score 10 T, is now generally available from all three credit bureaus. We have used FICO® Scores for many years.

Virginia 52

Virginia Trends Lending Data 52

PYMNTS

OCTOBER 30, 2018

” As a small business lending company, QuickBridge noted that small businesses must have access to working capital to adequately recover from a cyberattack. “But many times, it’s literally just the shame they would feel in reporting the attack to customers and law enforcement.”

Training 184

Training Data Virginia Resources 184

PYMNTS

SEPTEMBER 24, 2018

Overstock.com is no stranger to offering financial services — it already provides credit cards, lending, investments and insurance services to its customers. The standard lease term is as short as five months, with an early purchase option at 30, 60 or 90 days (not available in New Jersey, Vermont, Wisconsin or West Virginia).

Puerto Rico 176

Puerto Rico West Virginia Vermont Wisconsin 176

American Banker

APRIL 16, 2021

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Virginia 39

Virginia FDIC Groups Community Bank 39

CFPB Monitor

NOVEMBER 7, 2016

The CFPB announced that it filed a lawsuit in a Virginia federal district court against B&B Pawnbrokers, Inc., for alleged violations of the Truth in Lending Act and the Consumer Financial Protection Act in connection with closed-end consumer loans made by the company.

Virginia 83

Virginia Regulation Lending Examples 83

PYMNTS

JULY 20, 2018

million with B2B startups this past week, and while investment targets were diverse (including B2B eCommerce and small business lending), the bulk of the funding landed at companies focused on enhancing businesses’ ability to assess their performance. Investors placed more than $136.5 OfBusiness.

Analytics 105

Analytics Capital Tools California 105

CFPB Monitor

SEPTEMBER 10, 2020

The DBO indicated that it “is investigating whether LoanMart’s role in the arrangement is so extensive as to require compliance with California’s lending laws. According to the DBO’s press release, until the FACA became effective, LoanMart was making state-licensed auto title loans at rates above 100 percent.

Utah 78

Utah California FDIC West Virginia 78

CB Insights

NOVEMBER 6, 2019

Collectively, these startups have raised over $9.5B, with leading companies including lending startup Avant (Illinois, $655M in total disclosed equity funding), next-gen auto insurer Root Insurance (Ohio, $509M), restaurant finances management system Toast (Massachusetts, $503M), and small business lending startup Kabbage (Georgia, $490M).

United States 72

United States Fintech North Carolina Rhode Island 72