The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize banks that accept FDIC-insured deposits from a legal marijuana business.
Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.
The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.
More than 20 banks have been sold to credit unions. A prominent banking lawyer made the case at this year's ICBA convention that banks can become more aggressive acquirers.
As part of a settlement with the National Fair Housing Alliance and the American Civil Liberties Union, the social media platform will no longer allow certain advertisers to target users by age, gender or ZIP code.
The credit card network has teamed up with an ICBA unit and the fintech Urban FT to offer a payments services program tailored to community banks trying to keep pace with bigger banks.
As competitive pressures mount for midsize banks, more institutions are likely to follow the lead of BB&T-SunTrust and amass more resources for investing in AI, digital platforms and other cutting-edge technologies.
The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.
Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.
First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.
