Economy

After Senate Banking Committee Chairman Mike Crapo poured cold water on legislation enabling banks and credit unions to serve the marijuana industry, several key supporters of the effort are pushing back.

Drones and autonomous vehicles are making progress, but there's still expense and logistical hurdles to work out, says Roadie's Marc Gorlin.

The Senate Banking Committee chairman said he opposed a House bill that would give financial institutions legal cover to serve cannabis businesses.

A dozen of the nation's largest underwriters were accused of colluding with traders to artificially set prices on the secondary market for Fannie Mae and Freddie Mac securities.

The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.

The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight.

Howard Bancorp is planning a big push in CRE lending, first in its hometown of Baltimore and eventually in Washington.

Smaller enterprises don't have the resources of larger firms, but open source technology may be helpful, says Pimcore's Shashin Shah.

As required by last year's reg relief law, the agency is planning to raise the asset threshold for organizations conducting a stress test from $10 billion to $250 billion.

The startup with a namesake app is already attracting young investors and has been in talks with banks about partnerships.

The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.

Fintechs want access to customers’ financial data, but banks are resisting, on security concerns; Deutsche Bank may cut bonus pool 20% after 14% drop last year.

John Williams said Friday that the Federal Reserve's three interest rate cuts this year have bolstered the housing market and consumer spending.

In addition to overseeing the bank’s lines of business, technology and operations, Kevin Blair will now be responsible for human resources, credit administration and all customer-facing support functions.

Though details of a potential pact with China aren't clear, bankers are hoping it could convince leery customers to finally go through with delayed investments.

Organizers have applied to form Craft Bank. If successful, the bank would become the third to open in the Atlanta area in recent years.

The average price of a previously owned car has fallen in two consecutive months, and if the trend continues, lenders could see losses mount, Richard Fairbank said this week.

Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.

Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

Named interim CEO in August, Noel Quinn now appears to be the front-runner to lead the global bank's next turnaround.