Crapo delivers crushing blow to pot banking
Senate Banking Committee Chairman Mike Crapo
The Senate Banking Committee chairman said he opposed a House bill that would give financial institutions legal cover to serve cannabis businesses.

(Full story here.)
Reactions to CRA plan signal long fight ahead
Office of the Comptroller of the Currency
While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.

(Full story here.)
Wells Fargo adds ex-Comerica CFO in latest outside hire
Signage displayed at a Wells Fargo bank branch in New York.
Muneera Carr, who will become the San Francisco bank's controller on Jan. 6, is the newest addition to a team being assembled by CEO Charlie Scharf.

(Full story here.)
Where have all the CFPB fair-lending cases gone?
AB-121619-CFPB
Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, it hasn't sent a Department of Justice referral on a fair-lending violation in two years.

(Full story here.)
Why TD Bank wants to read its customers' moods
John Thomas, EVP and global innovation head, TD Bank Group
It's no longer enough to conduct traditional demographic analysis of customers. TD bank wants to know what is going on with individual consumers at any given moment and respond accordingly.

(Full story here.)
Green Dot CEO, a prepaid card pioneer, to step down Dec. 31
Steve Streit, Green Dot's chief executive
Steve Streit is retiring as part of a shakeup in the firm's management ranks. The Pasadena, Calif.-based company that he founded in 1999 has been suffering amid new competition from challenger banks.

(Full story here.)
Regulators find 'shortcomings' in living wills of six large banks
Federal Reserve building
The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.

(Full story here.)
Waters will call Wells Fargo's board members to testify in 2020
Rep. Maxine Waters
House Financial Services Committee Chairwoman Maxine Waters said oversight of the bank will be a focus for the panel next year.

(Full story here.)
Pot banking backers stand firm in face of Crapo's opposition
Sen. Cory Gardner, R-Colo.
After Senate Banking Committee Chairman Mike Crapo poured cold water on legislation enabling banks and credit unions to serve the marijuana industry, several key supporters of the effort are pushing back.

(Full story here.)
'Out of the shadows': Use of alternative data in lending gains ground
Marc Butterfield, senior vice president, First National Bank of Omaha
Financial regulators’ statement cautiously encouraging lenders to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say.

(Full story here.)