Displaying items tagged: Community Bankers of Michigan
Michigan banks ‘very well positioned’ to weather economic turbulence
Banks in Michigan entered 2023 in good shape financially and positioned well even if the economy enters into a recession as predicted later this year.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.