Since cannabis is still illegal under federal law, the lucrative industry has struggled with limited access to loans and other bank services.
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Posted inBusiness, Maine, Nation / World, News
Cash App parent company agrees to $80M settlement
Maine regulators were among agencies in 7 states leading the enforcement effort, which included 48 state agencies altogether.
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Posted inBusiness
cPort Credit Union breaking ground for Lewiston branch
The credit union purchased the property at 321 Main St. earlier this year with original plans to open by the summer of 2025. That has now been pushed back.
Posted inBusiness, Nation / World, News
The White House is cracking down on overdraft fees
The Consumer Financial Protection Bureau said Thursday it’s capping overdraft fees at $5 with a rule set to take effect in October 2025, if it isn’t overturned by Congress or altered under a Trump administration.
Posted inThe Franklin Journal
Farmington to change to Franklin Savings Bank for banking services
Town officials narrowed the selection to Androscoggin Savings Bank and Franklin Savings Bank with selectmen choosing the local bank.
Posted inBusiness, Nation / World, News
Walmart plans instant bank payments, cutting out card networks
Customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases.
Posted inBusiness, Nation / World, News
Banks prepare to fight proposed curbs on overdraft fees
While banks have drastically cut back on overdraft fees in the past decade, the nation’s biggest banks still take in roughly $8 billion in overdraft fees every year.
Posted inBusiness, Nation / World, News
Conservative Supreme Court seems open to an attack on the Securities and Exchange Commission
The case is just one of several this term in which conservative and business interests are urging the court to constrict federal regulators.
Posted inBusiness, Maine
Maine to receive $30,000 from mortgage processing snafu
ACI Payments mistakenly withdrew billons of dollars from mortgage holders during a software test.
Posted inBusiness
Climate demonstrators call for L.L. Bean to discourage fossil fuel investment
Demonstrators have been stationed outside the Freeport flagship retail store for weeks, calling for the company to discourage Citibank from investing in new fossil fuel infrastructure or to divest entirely.