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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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NCUA grants third charter of 2023 while Maryland group aims to be next

American Banker

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

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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.

Maryland 151
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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.

Maryland 104
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Neiman Marcus Agrees To Pay $1.5M To Settle Payment Card Breach

PYMNTS

The Maryland Attorney General Brian Frosh announced Tuesday (Jan. In a press release , the Maryland AG said Neiman Marcus agreed to pay $1.5 The states’ investigations determined that around 370,000 payment cards were breached, including 8,323 associated with consumers in the state of Maryland.

Maryland 158
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Point Breeze begins leadership transition by splitting executive roles

American Banker

The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.

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Buffett’s Berkshire Hathaway Dumps US Bank Stocks For Gold

PYMNTS

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.; Berkshire Hathaway remains invested in Bank of America, including a recent investment of more than $2 billion, giving it a nearly 12 percent stake worth over $27 billion.

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