Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance.

The agency’s rate cap for banks that are less than well capitalized contains several flaws and poses problems for community banks.

Gagan Kanjlia joins the Santa Clara, Calif.-based Silicon Valley Bank after spending two-plus years as the head of product for OnDeck, an online lending provider for small businesses. Before OnDeck, Kanjlia spent 14 years at Capital One.

The move is sure to draw criticism from bankers because it would allow credit unions to compete for backing from private investors.

The sale should increase Shore's capital levels and allow it to expand its banking activities.

Digit, Chime and Pluto are among those said to be stepping into a void left by the banking industry. But designing helpful enough, yet flexible enough, financial safeguards for consumers is easier said than done.

Along with a core conversion, the Twin Cities-area credit union deployed new loan origination systems and online and mobile banking platforms.

Colony will also gain a loan production office in Atlanta when the transaction closes.

Lawrence Weinbach will replace David Nelms, who had already stepped down as CEO. The transition will take place Jan. 1.

Synchrony Bank’s tie-in with the latest Spider-Man movie is an example of ways companies are looking to add augmented reality to their mobile-marketing arsenals.

In a rare move, Maryland Financial is voluntarily liquidating after its customer base shrank and efforts to sell itself failed.

Ameris has agreed to pay $751 million for Atlanta-based Fidelity; the combined company would have $16 billion in assets.

On Sept. 30, 2018. Dollars in thousands.

On Sept. 30, 2018. Dollars in thousands.

Chicago Deferred Exchange, which helps clients defer tax hits from property sales, had about $1 billion in deposit flows this year.

The Albany, N.Y., institution has made millions of dollars in mortgages through a program launched in July meant for those who do good in the world.

Branch acquisitions, once a popular way to scale up in new markets, have started to go by the wayside in the digital age.

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say.

Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits.

Blue Lion Capital said Johnny Guerry, who has sparred with other community banks, will assist in efforts to pressure the Seattle bank to improve its performance or sell itself.