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Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

A growing number of states have chosen to decriminalize or legalize cannabis in recent years. As a result, the legal cannabis industry has experienced exponential growth. Yet banks and other financial institutions are still largely reluctant to partner with cannabis firms due to the lingering conflict between state and federal law. In this episode we will explore: (1) how financial institutions can navigate the regulatory, compliance, and operational challenges facing this sector; and (2) the steps the Biden Administration may take to improve the environment for banking this industry.

The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.

The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America and JPMorgan Chase each processed more than $1 billion in funding.

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.

Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

illionaire Jack Ma’s Ant Group delivered about $2.3 billion in profit in the quarter right before Chinese regulators brought down the hammer on the financial technology giant’s record public offering and ordered it to scale back its sprawling business.

Randy Glassburn spent 33 years in the industry and recently led his credit union through a merger into Financial Center First Credit Union.

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.

Cross-border payments technology provider Routefusion plans to expand its embedded software services and global partnerships after a recent funding round.

A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.

The innovation recognizes inventory levels and uses machine learning and sales history to identify the ideal price point to incentivize a consumer to select the product with a limited shelf life, says Quicklizard's Pini Mandel.

California Polytechnic State University is said to be seeking a new banking partner, a move that could leave the university-based credit union without a home.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

Michael Moeser, Senior Analyst at PaymentsSource, talks to Atif Siddiqi, founder and CEO of Branch, about the transformation going on with payroll payments.

The FDIC fined the New York bank $12.5 million for ignoring previous orders to clean up its act; economists say the program hasn’t saved that many jobs to justify the expense.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.

As merchants navigate a rapidly evolving market, invisible payments are becoming a crucial means of offering customers the seamless, simple, and streamlined experiences they crave, says Credorax's Igal Rotem.