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Displaying items by tag: Community Bankers of Michigan

Tuesday, 17 May 2022 15:56

Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual

A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.

Published in Finance
Wednesday, 16 March 2022 17:51

Fed’s first of several interest rate increases targets inflation as economy remains strong

The Federal Reserve made the first of what’s expected to become multiple interest rate increases this year.

Published in Finance
Sunday, 01 August 2021 17:57

West Mich. cannabis operators debate federal reforms

Congress will inevitably relax decades-old federal restrictions on cannabis, West Michigan industry experts say, but how and when lawmakers will act are key unanswered questions that could determine who gains access to the market.

Published in Economic Development

Sunday, 09 May 2021 18:20

Michigan banking groups back federal cannabis bill

Federal legislation advancing through Congress this session could lead to more banks serving marijuana-related businesses in the U.S. and Michigan.

Published in Finance
Tuesday, 09 June 2020 14:08

Fed makes changes to Main Street Lending program to broaden appeal to businesses

Changes by the Federal Reserve Board should draw greater interest to the new $600 billion Main Street Lending Program for small and mid-sized businesses hurt financially by the COVID-19 pandemic.

Published in Finance
Monday, 25 May 2020 14:41

SBA turns focus to PPP loan forgiveness

 After approving more loans in six weeks than during the prior nearly 60 years combined, the U.S. Small Business Administration now looks to provide debt forgiveness to borrowers.

Published in Small Business

Sunday, 29 March 2020 17:15

Banks leverage new flexibility to help businesses get through pandemic

Small businesses that have been slammed by the coronavirus pandemic and expect to have difficulty making commercial loan payments should call their bankers now to work out possible adjustments.

Published in Finance
Tuesday, 17 March 2020 05:00

Michigan banking groups say financial institutions will remain open amid pandemic

The trade associations representing the banking industry across Michigan say banks intend to stay open during the crisis brought on by the coronavirus pandemic.

Published in Finance
Sunday, 13 October 2019 08:00

As financial groups push SAFE Banking Act, barriers to serving marijuana firms remain

Even if the U.S. Senate were to pass a bill to make it easier for banks and credit unions to serve the emerging cannabis industry, questions remain over just how many financial institutions will act quickly on the opportunity.

Published in Finance

Saturday, 18 August 2018 15:13

7 Michigan credit unions unite to offer trust, investment services. Bankers decry tax-exempt institutions’ ‘unfair advantage’

The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.

Published in Finance
Sunday, 15 April 2018 20:31

Banks, credit unions unite in support of regulatory reform bill

Executives at banks and credit unions across Michigan found common ground in advocating for legislation to ease federal regulations they say hurt smaller financial institutions and their ability to lend.

Published in Finance