Colorado

The Colorado credit union has pledged to match at least $50,000 in donations to a local foundation assisting with the community's recovery following a mass shooting at a grocery store that left 10 people dead.

Sundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space.

Regulators have approved the Colorado institution's bid to serve consumers across three different counties.

The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado.

Under the agreement, fintechs and their bank partners will have a safe legal harbor to offer loans, as long as their interest rates do not exceed 36% and they meet various other standards.

The Boulder-based institution can now serve consumers across 16 different counties, or more than 88% of the state's population.

The company said its plan to shutter 12 locations reflects "increased client usage of online and mobile banking and a commitment to improve digital banking technology."

Hofts spent more than three decades serving the credit union movement across multiple states, including as CEO of the Kansas CU League.

A fifth of U.S. banks may lack the stock multiples it takes to pursue acquisitions, so they're looking for other ways to improve results and deploy capital.

The Colorado Banking Board may be the first regulator to ever block a credit union-bank merger.