Americas

Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.

Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.

Banks, especially smaller institutions, will be forced to find more ways to differentiate, Bryan Jordan said in an interview that also covered his company's recent purchase of Capital Bank and how tax reform will immediately stimulate the economy.

In adding Martin Pfinsgraff, until recently the OCC's deputy comptroller for large-bank supervision, and retired Air Force Brig. Gen. Linda Medler, a cybersecurity expert, the regional bank says it is trying to build a board with expertise in fields of timely interest.

North Korean counterfeits haven't been documented since 2008, but recent sanctions may have pressured the country to return to making undetectable U.S. cash.

Neff, who joined the company in 1999, gained oversight of retail banking with the promotion.

The company sold securities in the fourth quarter to stay below $10 billion in assets and avoid a cap on interchange fees.

After a six-month transition period, Mark Midkiff will succeed Bill Hartmann later this year.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.