While important for the banking and cannabis industries, the bill is not as revolutionary as it seems. A long list of congressional to-dos remain to give the cannabis sector fair access to basic business protections and address social equity concerns.
A proposed bank regulation intended to highlight any existing racial discrimination in small business lending is being met with resistance by local and national banks who say their finances are under pressure.
One element of proposed Community Reinvestment Act regulation changes will be earth-quaking and will have profound consequences for many banks’ CRA performance.
Berkshire Bank’s chief compliance officer plans to leave the bank at the end of the month, and her replacement will come from within the bank.
Banks that charge multiple nonsufficient funds fees on a single item could be violating consumer laws, according to the FDIC.
Given the amount of personal and financial information banking institutions have access to, their need for cybersecurity is practically unparalleled. As a result, more are relying on cloud service hosting providers.
Jess Kennedy saw the mortgage process as a painful experience for people and wanted to find a way to remove that pain. Two years ago, she joined a team of five people who set out to build a digital lending platform.
If adopted, the FTC’s new cybersecurity standards would cause significant disruption to entities subject to the its jurisdiction, just as the New York requirements disrupted entities operating in that state.
There is no question that the compliance, legal, risk, quality and similar departments (referred to as “compliance” for rest of article) within financial institutions have historically operated as cost centers, rather than drivers of beneficial change or a real competitive advantage.
The Federal Reserve’s surprise ban on Wells Fargo & Co. growing its balance sheet comes at a difficult juncture for the United States’ third-largest lender.
Boston law firm Davis, Malm & D’Agostine P.C. reports it has established a dedicated, multidisciplinary banking and credit practice to better meet the needs of lenders and borrowers in Boston.
The first major blow has been dealt to the Consumer Financial Protection Bureau, with President Donald Trump putting in place his choice for acting director. Presumably, he will also have his choice of permanent replacement as well.
By being careful to comply with SAFE Act requirements by maintaining NMLS licenses for more employees than is likely necessary, are bankers putting themselves at greater risk of running afoul of Truth in Lending requirements?
A new rule intended to give consumers greater protection against financial institutions will likely lead to a host of regulatory challenges for community banks, and even more worrisome, potentially costly litigation.
Don’t “bank” on getting a good grade on this exam.
As one of the most heavily regulated industries in America, it’s natural that bankers and regulators might not always have the happiest of relationships, but a new Aite Group report aims to shed some light on how banks’ relationship with the new cop on the beat may be a little more fraught than others.
