Retail & Commercial

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.

Atlantic Equities’ John Heagerty cut his recommendation on JPMorgan Chase to neutral, saying the bank now “offers the least upside” to price targets among the major banks.

The online lender will roll out the business early next year with a focus on loans of less than $100,000.

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.

Recent data from NCUA showed a lot of positives for the industry, but it also revealed some potentially worrisome trends.

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.

A U.S. District judge in Scranton denied the student lender's motion to dismiss the suit.

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.