Compliance

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The coronavirus pandemic has changed the way many industries conduct business — and that's especially true of the legal cannabis industry, which was already struggling in the U.S. to find the best way to handle noncash payments.

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.

An interagency notice meant to encourage lenders to offer small consumer loans also provides federal agencies too much say on what constitutes “reasonable” pricing.

Digital fraud protection provider Kount will be offering real-time fraud screening using adaptive artificial intelligence and machine learning to help Barclaycard’s business clients prepare for Strong Customer Authentication (SCA) requirements, which are part of Europe’s PSD2 directive.

In addition to Apple and Google delivering smartphone apps that would alert users that they are near a person infected by the virus, various other government agencies and businesses are developing that type of technology to address the pandemic's spread.

Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.

In the U.K., many policy researchers predict that the economic fallout of the pandemic in the U.S. could change attitudes toward the idea of basic income on both sides of the Atlantic.

The Independent Community Bankers of America has asked NCUA's inspector general to review the agency's decision to change how low-income credit unions receive that designation.

The website, ppp.bank, will help borrowers in the Paycheck Protection Program apply for loan forgiveness.

The credit union regulator is adding line items to required quarterly reporting in order to better account for loan forbearance, CUs lending through the Paycheck Protection Program and more.

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

The panel shot down a proposed interim final rule regarding time limits for overdrafts, the first time in recent memory that an issue before the board did not have the votes to pass.

The credit union regulator has implemented a host of measures to help the industry manage the pandemic, but there may be only so much it can do without congressional action.

The order's removal allows the Delaware company to pursue more opportunities in its payments business.

Lobbying lawmakers via videoconferencing has some advantages, but it's unclear if that format will continue to be used once social distancing requirements are eased.

The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation.

The potential for a new card scheme throughout Europe has been a discussion point surrounding the Single Euro Payment Area since its inception more than a decade ago. A new proposal could bring this concept into reality.

Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.

Citing a need to better serve its customers in the future and also boost the image of the XRP cryptocurrency, Ripple announced this week it was joining the ISO 20022 standardization committee.