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Another Maryland threat to bank partner model lending

CFPB Monitor

A Maryland administrative action recently removed to the state’s federal district court illustrates how Maryland law continues to present challenges for the bank partner structure used by many lenders. Atlanticus/Fortiva performs all of the collections, servicing, payment and remittance operations in connection with the accounts.

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Maryland Community Bank Wades Into Cannabis Market

PYMNTS

As more financial institutions (FIs) warm up to the idea, one bank in Maryland is taking significant steps to address cannabis companies’ FinServ challenges. That’s the biggest concern for financial institutions across the country that may be operating in states in which marijuana is legal, but remains illegal under federal law.

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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy. Larry Hogan vetoed the levy.

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Buffett’s Berkshire Hathaway Dumps US Bank Stocks For Gold

PYMNTS

In May, the banking industry was the runt of the litter of the stock market rally as interest rates sank and loans crumbled. In addition, Berkshire also has nearly 100 operating units in the U.S., including Geico, the Maryland-based auto insurer; BNSF, the largest railroad in the U.S.;

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Berkshire Hathaway Dumps US Bank Stocks, Adds Canadian Mining Company

PYMNTS

In May, the banking industry was the runt of the litter of the stock market rally as interest rates sank and loans crumbled. In addition, Berkshire also has nearly 100 operating units in the U.S., including Geico, the Maryland-based auto insurer; BNSF, the largest railroad in the U.S.;

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Synchrony Says Erroneous Email Not Tied To Data Breach

PYMNTS

Although Alibaba and JD.com usually lead China’s eCommerce market, the four-year-old Pinduoduo is “popular with China’s lower-tier city residents” and attracts customers with offers of discounts and deals, per reports.

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New Main Street Business Plans Restart Optimism In Post-COVID Picture

PYMNTS

Twenty-five percent of Main Street SMBs now say they are operating with capacity restrictions, whereas 38.6 And new businesses can build on digital foundations, making themselves more efficient, and more resilient against market disruptions in the process. percent reported the same in March.”.

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