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Daily edition for September 04, 2020.

Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees.

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

The company also plans to shed some corporate office space by the end of this year.

The company is selling $355 million of Paycheck Protection Program credits to The Loan Source, a nonbank lender that is also buying PPP loans from three other banks.

When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama.

Victories in Massachusetts earlier this week bring the Credit Union Legislative Action Council to a 96% success rate backing races in this election cycle.

With on-site supervision off the table indefinitely, various credit union trade associations have suggested how NCUA could improve remote exams, including issues related to exam timelines and cybersecurity.

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems.

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.

The California company has acquired Mid-Central Federal Savings Bank, which is converting to a national bank.

The upcoming U.S. election could move the cannabis industry closer to the mainstream, but legal dispensaries will still have to deal with workarounds to accept card or mobile payments.

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%.

With the increase in bank transfers and e-wallets, consumers' payment preferences are heading in this direction, particularly during economic crises, says PPRO's James Booth.

Richard Pillow will step down after more than four decades in the industry.

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

Germany’s two biggest banks have dropped Ernst & Young because of ties to the defunct payments company; Wells was charged with failing to account for the costs of switching customers to new investments.

Larry Sewell has also pledged to continue a series of industrywide conversations on race relations.

Daily edition for September 03, 2020.