Banking

The attorney general told lawmakers that exempting states that have legalized marijuana from the federal ban is better than the current system where state and federal laws are in conflict.

The chairwoman of the House Small Business Committee promised to block action on the agency's budget unless it can justify its fee-hike request.

Gail Jansen, who oversees member business lending at Kinecta Federal Credit Union, warned that increasing fees for Small Business Administration loans would hurt borrowers.

The House Financial Services Committee recently approved protections for banks financing cannabis companies in states where it’s legal. This is a good first step, but improvements are needed.

Chief executives of Wall Street's largest banks were awarded record pay packages last year as profits soared. Nearly 2,500 miles away, the CEO of a little-known online lender, born at the height of the dot-com bubble, quietly outearned them all.

The bipartisan bill, praised by credit union trade groups, is the top 2019 legislative priority for the Defense Credit Union Council.

Small banks rise up against “onerous contracts and sometimes mediocre digital offerings”; Quarles warns banks to speed up preparations for Libor sunset.

The information you need to start your day, from PaymentsSource and around the Web. Today: Square opens online store in U.K.; Swift releases new security research; Physical ATM attacks on the rise; Most hotels have a security gap.

Some credit unions are embracing technology that makes it easier for consumers to start the notoriously difficult process of changing financial institutions.

With no firm dates announced for processing certification and delivery dates for new hardware and upgrade kits 120 days or more out, the Windows 10 migration is shaping up to be a scheduling and budgetary nightmare, writes Yonas Marcos, president and CEO of Star Financial Services.

In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.

The online lender's recent completion of a $700 million securitization provided Jonathan Ebinger at BlueRun Ventures an opportunity to reflect on what he has learned about the power of alternative data.

The technology provider to financial advisers is partnering with Advisor Credit Exchange to help them connect their clients with banks and nonbanks for consumer and business loans.

The decade-old rule, now under review, is outdated and another example of one-size-fits-all regulation, community bankers say.

The Evergreen State is the latest to make a push to modernize the rules governing state-chartered credit unions.

The venture, which will do business as CU APPS, will offer mobile apps for other credit unions.

The new chairman of America's Credit Union Museum writes that as the number of CUs shrinks, the museum remains committed to preserving each institution's history, no matter how small.

Three regulators warn Wells it hasn’t made enough progress on consent order; poor fourth quarter investment banking revenue ignites cutbacks.

The information you need to start your day, from PaymentsSource and around the Web. Today: Walmart expands robot program; Regulators say banks aren't moving fast enough on PSD2; Bitstamp gets New York license; New iPHone attack; Financeit appoints execs for U.S. expansion.

The company warned that the move will likely reduce its first-quarter profit by $8 million.