Risk: Page 32
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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 -
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 -
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TrendlineTop 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
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 -
Federal Reserve considers tool to reduce risk of downturn
Banks, whose profits are already under strain from low interest rates, may oppose enacting the buffer.
By Anna Hrushka • Aug. 12, 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 -
Alternative credit data boosts loan approval 27%, Upstart shows in CFPB test
People with credit scores between 620 and 660 were approved about twice as often in a two-year test of the lender's model, which takes into account a candidate's education and job history.
By Dan Ennis • Aug. 7, 2019 -
Fed commits to real-time payments system by 2024
The central bank looks to bring faster transactions to community bank customers and act as a safeguard in a marketplace already served by The Clearing House.
By Dan Ennis • Aug. 6, 2019 -
ABA slams non-member deposit proposal for federal credit unions
The National Credit Union Administration's proposal would allow federal credit unions to have up to half of their deposits come from other credit unions and government entities.
By Anna Hrushka • Aug. 5, 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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Capital One breach raises questions about security and cloud-first strategies
If a breach hits a company with technology maturity, how vulnerable are less mature organizations?
By Naomi Eide • Aug. 2, 2019 -
Barclays drops private prisons as more banks weigh reputational risks
The announcement follows in the footsteps of other large financial institutions turning away from the industry, as more banks make business decisions related to social issues.
By Anna Hrushka • Aug. 1, 2019 -
Capital One breach prompts class-action suits, state AG probes
At least two consumers and three attorneys general initiate action against the bank in the wake of this week's security concerns.
By Dan Ennis • July 31, 2019 -
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Capital One breach exposes 106M customers' data
The bank expects the incident to cost it between $100 million and $150 million this year.
By Dan Ennis • July 30, 2019 -
CFPB to end mortgage exception for Fannie, Freddie
A "patch" that lets Fannie Mae and Freddie Mac offer mortgages to borrowers with a debt-to-income ratio above 43% is expiring.
By Dan Ennis • July 26, 2019 -
Pot hearing reveals confidence gap in banking a budding industry
Bank and credit union executives showed support for the SAFE Act at Tuesday's Senate hearing, but federally regulated bodies may want more guidance than what FinCEN provides.
By Anna Hrushka • July 24, 2019 -
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Senate panel poised to hear pot banking challenges
Tuesday's hearing comes as the bipartisan Secure and Fair Enforcement (SAFE) Banking Act gains momentum in Congress.
By Anna Hrushka • July 22, 2019 -
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Rabobank takes on US agriculture's lending gap as large banks exit
While farm-loan portfolios of the nation's top 30 banks have declined 17.5% since 2015, Rabo AgriFinance's lending has grown 7% during the same period.
By Anna Hrushka • July 19, 2019 -
FASB's delay of credit-loss standard not enough, banks say
Banks and credit unions want FASB to do more than just delay new CECL accounting standards; they want the standards revisited.
By Robert Freedman • July 17, 2019 -
Nevada to pilot closed-loop payments system to serve marijuana-related businesses
The proposal would eliminate the large amounts of cash the state's pot businesses must deal with by creating an online system where digital currency transactions could be made.
By Anna Hrushka • July 17, 2019 -
KeyCorp faces $90M loss over client's bad wire transfers
The bank claims a payroll processing company made a $122 million overdraft and the company's CEO knew there wasn't enough money to cover the wire transfers.
By Dan Ennis • July 17, 2019 -
Quarles discusses tweaks to Volcker Rule, countercyclical capital buffer
The Federal Reserve plans to revamp the Volcker Rule "early in the fall," Vice Chair Randal Quarles says, adding the Fed is considering changes to the amount big banks hold during boom times.
By Dan Ennis • July 12, 2019 -
Top banks trimming farm-loan portfolios
The farm-loan portfolios of the nation's top 30 banks declined 17.5%, or $3.9 billion, to $18.3 billion, between their peak in December 2015 and March 2019, a Reuters report finds.
By Anna Hrushka • July 12, 2019 -
More banks, credit unions to cover pot-related businesses
The product's federal designation as a Schedule 1 drug has limited banking options for cannabis dispensaries and the industries' ancillary businesses.
By Anna Hrushka • July 11, 2019 -
Fed's Quarles pushes streamlined stress tests
The regulator's vice chair defends using stress capital buffer to simplify tests amid criticism that further easing won't adequately prepare banks for downturn.
By Dan Ennis • July 10, 2019 -
Small-bank exemption from Volcker Rule made final
Unlike large, systemically important banks, community banks can use deposits to make trades on their own accounts, known as proprietary trading.
By Robert Freedman • July 10, 2019
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