Legislation introduced Thursday by Michigan Democratic U.S. Rep. Dan Kildee would provide some relief to student borrowers with loans that are privately held. President Joe Biden recently extended through September the pause on federal student loan payments and interest, which was first put in place last year by Congress in response to the pandemic and then renewed by the Trump administration. But... Read more »
For years, only a small number of banks and credit unions have been willing to offer their services to the cannabis industry, giving its cash-laden businesses a place to safely deposit their money without fear of a robbery. But the number of institutions willing to do so appears to be growing. And now, those early adopters are moving beyond deposit services and slowly starting to offer loans to th... Read more »
The new chairman of the Senate Banking Committee says he’s open to advancing a bill protecting banks that service state-legal marijuana businesses—but it must be passed in tandem with sentencing reform legislation for drug offenses. Sen. Sherrod Brown (D-OH), who recently took the top seat in his panel after Democrats secured a majority in the Senate, told reporters that he’s “willing” to move the... Read more »
Colorado’s cannabis industry has been forced to deal primarily in cash for years due to banking restrictions that pot advocates and banking lobbyists say put shops, growers and others at risk of theft. The industry is now cautiously optimistic this year that, with Democrats in power in Washington, its eight years of trying to lift those restrictions on banks and credit unions will pay off. Because... Read more »
A Democratic congressman says he will again attempt to add language federally protecting banks that service state-legal marijuana businesses to the next coronavirus relief package. “I plan on asking that. Whether it gets in there or not, we’ll see how that works,” Rep Ed Perlmutter (D-CO), sponsor of the Secure and Fair Enforcement (SAFE) Banking Act, told Yahoo Finance Live. He added that he also... Read more »
Congressman Ed Perlmutter (D-CO) joins Yahoo Finance Live to discuss the latest with stimulus as President Biden meets with GOP lawmakers. AKIKO FUJITA: There is little sign of progress over President Biden's stimulus proposal, even after Republican senators met with the president at the White House last night to discuss potential areas for compromise. Let's bring in Representative Ed Perlmutter. ... Read more »
Ross Gerber, Gerber Kawasaki CEO joins the Yahoo Finance Live panel to discuss the market outlook after Wall Street’s strong start to the week, Gamestop sags and the cannabis outlook as Senate Democrats say consideration of cannabis reforms will be a priority. ZACK GUZMAN: I also want to spotlight what we opened with here in our first hour, a discussion with Congressman Ed Perlmutter, who was the ... Read more »
A Democratic congressman says he will again attempt to add language federally protecting banks that service state-legal marijuana businesses to the next coronavirus relief package. “I plan on asking that. Whether it gets in there or not, we’ll see how that works,” Rep Ed Perlmutter (D-CO), sponsor of the Secure and Fair Enforcement (SAFE) Banking Act, told Yahoo Finance Live. He added that he also... Read more »
The power in Washington, DC is shifting . . . quickly, but the Democratic stronghold on Congressional oversight of the CFPB remains steady. Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services recently announced new Subcommittee Chairs for the 117th Congress, appointing Ed Perlmutter (CO-7) as the new Chairman of the Subcommittee on Consumer Protection and Financial Instit... Read more »
Robin Hooding has a new meaning today. The classic story of Robin Hood involves taking from the rich and giving to the poor. In 21st Century lingo, Robinhood is an investment app, which small-time investors used to group up on the rich by betting on companies that hedge funds were betting would fail. "Just like anything, you get on Reddit, you, kind of, fall down some wormholes and then all of a ... Read more »
