Banking

Banks and marijuana dispensaries are getting closer to having a more cohesive relationship. But not close enough to bring cannabis sellers out of the high-risk category.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals — a move that could negatively impact a major credit union revenue stream.

If President Trump’s tariffs on steel and other products stay in place long, big U.S. importers would be hurt and pass on the pain to their midsize and small-business suppliers — which are the bread and butter of commercial lending.

BofI has agreed to buy $3 billion of deposits from Nationwide Bank as part of the insurance giant's exit from retail banking. The deal comes three years after BofI bought H&R Block Bank's deposits.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

Tory Nixon, who became Umpqua's chief banking officer this spring, is trying to drive more customers to use mobile banking (only 15% do so now industrywide) without alienating them in the process.

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals.

Artificial intelligence has myriad benefits for consumers, yet many are still concerned about issues such as privacy, requiring issuers to provide more information about the technology, according to Cyndie Martini, president and CEO of Member Access Pacific.

The Senate has no reason to stall the nomination of Michelle “Miki” Bowman to fill the central bank’s community banker seat.

The information you need to start your day, from PaymentsSource and around the Web. Today: A big week for the OEM wallets; Barclays adds service for small businesses; Russian card hacker goes to jail; Nexo adds credit for cryptopayments.

The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.

Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.

Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.

A task force created by the American Bankers Association asserts that applying for a bank charter is too time-consuming and that some de novo rules are too rigid.

Chief Design Officer Meriah Garrett provides a look at the bank's efforts to make mobile app and website design more user-friendly.

The company’s first COO, Vishwas Prabhakara, is hoping to help the automated savings app startup build scale.

The trend poses challenges for banks, which have long required customers who want fees waived to put in their own effort.

While many financial institutions are leery of sales goals after the Wells Fargo cross-selling scandal, they shouldn’t overcorrect.

About $736 million is being spread among more than 5,000 credit unions following NCUA's merger of the share insurance and corporate stabilization funds. Credit Union Journal queried a number of CUs on how they plan to spend that windfall.

The information you need to start your day, from PaymentsSource and around the Web. Today: Allied Wallet's CEO reportedly makes big political donations and skirts bank regs; Indian central bank pressures Paytm on AML; Grab's prepping another $1 billion raise; Google Pay adds another market; FSA tightens rules for FX marketing.