BankWise - March 14
Congrats and thank you to our member, HomeTown Bank. It is an honor to cover your participation in an initiative to add financial literacy to high school education in Shakopee.
Thank you as well to Aleesha Webb for interviewing with us on your commitment to community banking as the newly named CEO of Village Bank in St. Francis.
The issue also offers:
On the heels of the first-ever congressional hearing on the issue of cannabis banking, H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act of 2019 was introduced as the leading bipartisan legislation to address regulatory concerns that hinder the traditional banking system from serving cannabis-related businesses.
The bill is supported by Independent Community Bankers of America. Washington community banker Greg Deckard testified before the House Committee on Financial Services in favor of the SAFE Act in February. “The current conflict between state and federal law,” he said, “has created a cloud of legal uncertainty for community banks [and] inhibited access to the banking system for cannabis-related businesses.”
Here’s a look at the current state of marijuana banking and how the SAFE Banking Act could change that.
(Sponsored content from Performance Trust Capital Partners)
What will happen to your bank’s net income if recession lowers rates and slows loan demand? Two Minnesota community banks have prepared for an economic slowdown scenario. Come and benefit from their insights.
Attend their discussion with Performance Trust Capital Partners on Thursday, April 4 at 10:00 a.m. CST!
ICBM-backed state legislation on residential Property Assessed Clean Energy financing passed last year. Now the Consumer Financial Protection Bureau wants comments on proposed PACE federal regulations. The bureau wants feedback on current best practices and written materials as well as about the structure, funding, and repayment of PACE financing transactions and the relationship to local property tax systems. Comments are due May 7.
The Dairy Margin Coverage program created by the farm bill will serve as a new safety net for dairy producers. It tweaks the previous Market Protection Program to make the MPP more affordable for many dairy producers. It largely affects smaller herds (250 or fewer cows), but larger operations can also benefit.
Sign-ups are due by June 17; here are some highlights of the improvements offered.