Commercial: Page 62
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Community banks won't survive without tech innovation, FDIC chair says
The agency's Tech Lab aims to collaborate with smaller financial institutions on how to deploy technology to better serve customers.
By Anna Hrushka • Oct. 2, 2019 -
Industry execs question cannabis banking bill's potential impact
One compliance officer says she is concerned "there's not enough teeth" to provide safety for banks that service pot-related businesses.
By Anna Hrushka • Oct. 1, 2019 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Wells Fargo names BNY Mellon's Charlie Scharf CEO
The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March.
By Anna Hrushka • Sept. 27, 2019 -
Mars Wrigley
Women-focused de novo gets conditional approval from FDIC
First Women's Bank is targeting the 42% of all businesses that are women-owned, which generate $1.9 trillion in annual revenue, according to the bank.
By Anna Hrushka • Updated July 17, 2020 -
House OKs landmark cannabis banking bill
If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.
By Anna Hrushka • Sept. 26, 2019 -
Wells Fargo tests blockchain waters with internal settlement service
Wells Fargo's renewed interest in blockchain comes at a time when banks are still gauging the technology's benefits.
By Anna Hrushka • Sept. 17, 2019 -
Senate panel chairman eyes cannabis banking vote by year's end
Passage of legislation to protect banks that service marijuana-related businesses would be a major victory for the cannabis industry, which has remained largely cash-based over a lack of access to banking services.
By Anna Hrushka • Sept. 13, 2019 -
Wikipedia
California lawmaker pulls cannabis banking bill ahead of vote
The state is expected to post $3.1 billion in licensed cannabis sales this year. But as long as pot remains a Schedule 1 drug under federal law, many banks are reluctant to accept those deposits.
By Anna Hrushka • Sept. 11, 2019 -
JPMorgan Chase's WePay launches same-day deposits
The free service gives Chase an edge on fintech competitors such as Stripe and Square, which both charge fees for faster processing.
By Anna Hrushka • Sept. 10, 2019 -
Wells Fargo launches food, beverage and agribusiness group
The launch comes at a time when the country’s largest banks are scaling back on their agricultural lending portfolios, a result of significant drops in farm income and the escalating U.S.-China trade war.
By Anna Hrushka • Sept. 9, 2019 -
BB&T, SunTrust branch sales could mark opportunity as merger nears
The banks have said the merger would result in 740 branches located within two miles of one another, a prospect that has drawn concern from lawmakers.
By Anna Hrushka • Sept. 6, 2019 -
TD Bank aims to help finance workers return from career breaks
The bank is set to kick off its first 16-week program in the New York City area in January 2020.
By Valerie Bolden-Barrett • Sept. 6, 2019 -
Getty Images
'Responsible' loans jump 40% as banks take green, social stances
Banks are rethinking their lending policies with regard to coal, carbon and private prisons as consumer desire for transparency grows.
By Anna Hrushka • Sept. 4, 2019 -
Jeff Swensen via Getty Images
PNC launches on Ripple’s cross-border payments network
While Ripple already has a global portfolio of banks using the RippleNet network, the launch with PNC Bank marks a significant milestone for the cryptocurrency company.
By Anna Hrushka • Sept. 3, 2019 -
$35.3M credit union tops JPMorgan for medical marijuana banking contract
The competition came after banks on contract with West Virginia said they would not provide services related to pot sales even though the state passed the Medical Cannabis Act in 2017. Bidders can file protests until Sept. 3.
By Anna Hrushka • Aug. 29, 2019 -
Trustar Bank
Q&A6 questions with Trustar Bank CEO Shaza Andersen
Executive launched the Great Falls, Virginia-based community bank in July, after selling WashingtonFirst Bank to Sandy Spring Bank.
By Anna Hrushka • Aug. 29, 2019 -
Wells Fargo may want to consider changing name, image adviser says
Consumers gave the bank a 91% negative rating long after its fake-accounts scandal. Plummeting stocks, a lengthy CEO search and a "mea culpa" campaign aren't helping.
By Anna Hrushka • Aug. 22, 2019 -
5 regulators respond to request for hemp banking clarity
Although the production and sale of industrial hemp was legalized last year, financial institutions still question whether services can be extended to businesses associated with the product.
By Anna Hrushka • Aug. 15, 2019 -
Capital One's hacker breached more than 30 organizations, prosecutors say
The servers found in Paige Thompson's bedroom held data from the bank and other entities, though the data is not personally identifiable information.
By Samantha Schwartz • Aug. 15, 2019 -
Small-business lending study shows racial disparity
More than half of black sole proprietors who applied for financing received none, a New York Fed study found.
By Dan Ennis • Aug. 14, 2019 -
Big-bank leadership lacks diversity, House panel says
The boards of directors of the nation's largest banks are composed of only 29% women and 17% minorities despite a U.S. population that is more than 50% female and 40% nonwhite.
By Anna Hrushka • Aug. 14, 2019 -
Schumer asks regulators for clarity on hemp banking
Senate minority leader's letter highlights how hemp growers are facing some of the same reluctance from financial institutions as pot-related businesses.
By Anna Hrushka • Aug. 13, 2019 -
Banks' use of social media matures, ABA finds
More than 80% of respondents said they "agree" or "strongly agree" that social media are important, up from 76% according to a parallel study the trade association conducted in 2016.
By Anna Hrushka • Aug. 9, 2019 -
Alaska credit union ends pot pilot after losing insurance coverage
Providing banking to MRBs may have been a "more reasonable prospect" if the burden of compliance was not so high, the credit union's CEO said.
By Anna Hrushka • Aug. 8, 2019 -
Community banks face risk amid escalating trade war
Tariffs will affect larger banks, but diversification will shield bigger financial institutions from the impact, an analyst said.
By Anna Hrushka • Aug. 2, 2019
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