Nevada to pilot closed-loop payments system to serve marijuana-related businesses

The proposal would eliminate the large amounts of cash the state's pot businesses must deal with by creating an online system where digital currency transactions could be made.

By Anna Hrushka • July 17, 2019

Lawmakers raise money laundering concerns during Libra hearing

Lawmakers both supportive and wary of the launch of Facebook's cryptocurrency were concerned over how the social media giant plans to limit "bad actors" from using the currency.

By Anna Hrushka • July 16, 2019

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

2 bank openings highlight de novo splurge

Piermont Bank's New York opening marks the second bank opening in a week — a sign of new energy in a banking sector that has seen few de novos this decade.

By Dan Ennis • July 16, 2019

Banks face higher reserves for some lot development loans

Banks have to maintain 150% risk-weighted reserve for residential lot development loans under a rule proposed Monday.

By Robert Freedman • July 16, 2019

Facebook hearing brings consumer protection, financial stability questions

Lawmakers are set to scrutinize a Facebook executive's testimony over the company's proposed cryptocurrency, a hearing could make waves on Capitol Hill and in the market.

By Dan Ennis • Updated July 15, 2019

Low interest rates won't hurt banks, analyst says

Since March, the spread has widened, and now long-term rates are at a healthy place relative to short-term rates. 

By Robert Freedman • July 15, 2019

Quarles discusses tweaks to Volcker Rule, countercyclical capital buffer

The Federal Reserve plans to revamp the Volcker Rule "early in the fall," Vice Chair Randal Quarles says, adding the Fed is considering changes to the amount big banks hold during boom times.

By Dan Ennis • July 12, 2019

Regulators' effort to ease reporting falls short, small banks say

For the country's smallest banks, a mere savings of about 1.8 hours a quarter from about 64 hours just doesn't cut it, a trade group says.

By Robert Freedman • July 12, 2019

Analysts: No great need to lower rates, but it won't do any damage either

Even though interest rates and unemployment are already low, there's little concern over lowering rates further, because inflation remains well below the Fed's target of 2%. 

By Robert Freedman • July 11, 2019

More banks, credit unions to cover pot-related businesses

The product's federal designation as a Schedule 1 drug has limited banking options for cannabis dispensaries and the industries' ancillary businesses.

By Anna Hrushka • July 11, 2019

Fed Chairman Powell open to rate cut as 'crosscurrents' reemerge

In testimony today before Congress, the Fed chairman says the U.S. economy is doing reasonably well but he's prepared to take appropriate steps to maintain growth. 

By Robert Freedman • July 10, 2019

Fed's Quarles pushes streamlined stress tests

The regulator's vice chair defends using stress capital buffer to simplify tests amid criticism that further easing won't adequately prepare banks for downturn.

By Dan Ennis • July 10, 2019

Small-bank exemption from Volcker Rule made final

Unlike large, systemically important banks, community banks can use deposits to make trades on their own accounts, known as proprietary trading. 

By Robert Freedman • July 10, 2019

'Shifting justifications' prompt 9th Cir. to overturn Wells Fargo summary judgment

An email from a supervisor undercut the bank's argument that the plaintiff was fired because her position was eliminated in restructuring.

By Lisa Burden • July 10, 2019

EEOC says Citizens Bank failed to accommodate worker with anxiety, forced him to quit

The agency claims that the bank engaged in disability bias when it refused to reassign an employee to one of several vacant positions.

By Jennifer Carsen • July 9, 2019

Student loan forgiveness creates moral hazard, critics say

Removed from the consequences of their financial decisions, borrowers may take risks they otherwise wouldn't.

By Robert Freedman • July 9, 2019

Top US banks join over 200 corporations to sign LGBTQ rights amicus brief in SCOTUS cases

Lambda Legal described it as a "landmark brief" with more corporate signers than any other previous brief supporting the LGBTQ community.

By Valerie Bolden-Barrett • July 9, 2019

Banks take wait and see approach to ROI on AI deployment

Gartner's Moutusi Sau said the banking industry as a whole still waits to see actual value from their current AI projects before committing more resources to the emerging tech.

By Anna Hrushka • July 8, 2019

Citi first major US bank to join UN sustainability initiative

The U.N. says the principles are meant to align banks with the organization’s Sustainable Development Goals and the Paris Climate Agreement.

By Anna Hrushka • July 3, 2019

Trump nominates backers of lower interest rates to Fed

The President's latest Fed nominees want interest rates to go lower, and one is sympathetic to the gold standard and questions whether the Fed should set rates. 

By Robert Freedman • July 3, 2019

ABA, ICBA say overdraft opt-out rule working as intended

Banks are giving consumers a chance to avoid overdraft protection fees, while presidential candidate Corey Booker aims to strengthen curbs even further. 

By Robert Freedman • July 2, 2019

Lawmakers schedule hearings ahead of Facebook's cryptocurrency launch

The Silicon Valley-based company said Libra, which is scheduled to launch in early 2020, is already backed by dozens of companies — including Uber and Mastercard — to be managed by the independent nonprofit, Calibra.

By Anna Hrushka • July 1, 2019

Trump: US won't impose tariffs on $300B Chinese goods 'for the time being'

China and the U.S. will resume negotiations and avoid a further escalation of the trade war "for at least the time being," Trump said.

By Shefali Kapadia • June 29, 2019

Visa, Currencycloud partner to streamline cross-border payments

Cross-currency wallets and foreign exchange transaction notifications could make tourism spending easier during a trade-war lull.

By Lisa Rowan • June 6, 2019