Risk

Dive Awards
The Banking Dive Awards for 2019

From Jamie Dimon to Mastercard, these are the companies and executives that shaped banking this year.
Banks don't need to file SARs when servicing hemp businesses, regulators say

The guidance comes as welcome news to hemp growers, banks and some lawmakers who have long called for clarification.
By Anna Hrushka • Dec. 03, 2019
Q&A
4 questions with FDIC Chair Jelena McWilliams

"I think that the biggest challenge we have is not allowing innovation to happen, or standing in the way of technological developments that could make the system better," McWilliams told Banking Dive.
By Anna Hrushka • Nov. 12, 2019
Why banks should take user experience cues from nonbanks

“If Amazon is doing something, and it works, we should at least try it," SunTrust's Andy Vitale said during a Bank Innovation Build panel on designing a dynamic customer experience.
By Anna Hrushka • Nov. 08, 2019
Mobile banking finds its 'half' life

About 50% of consumers are using in-app digital wallets, and more than 60% of online transactions are made using a smartphone, two studies show.
By Dan Ennis • Nov. 08, 2019
Capital One removes CISO from role following breach

The executive will stay with the bank as an adviser, The Wall Street Journal reported.
By Samantha Ann Schwartz • Nov. 07, 2019
FDIC says hemp-banking interagency guidance coming within weeks

Agency Chair Jelena McWilliams told Banking Dive she has held meetings with various state officials, asking about applications and how hemp products would be regulated to ensure their THC level is below 0.3%.
By Anna Hrushka • Nov. 05, 2019
Fed lowers short-term interest rate a quarter point

The move is characterized as an insurance policy against global developments and continued weak business investment in the U.S.
By Robert Freedman • Oct. 30, 2019
BlueVine checking account targets small businesses

The fintech looks to "democratize" commercial banking when it rolls out the product early next year.
By Anna Hrushka • Oct. 28, 2019
Cannabis can be most transparent business to bank, Simplifya exec says

Banks entering the space can plumb a wealth of data, based on the number of fintechs that have sprung up to address the challenges associated with the industry, the company's chief compliance officer says.
By Anna Hrushka • Oct. 28, 2019
ICBA launches 'Wake Up' campaign in ongoing fight against credit unions

The Credit Union National Association has criticized the campaign, issuing a statement refuting many of the ICBA's claims.
By Anna Hrushka • Oct. 22, 2019
61% more banks, credit unions serve pot firms over last year, FinCEN says

The public's shifting attitude toward cannabis, in addition to bipartisan legislation, may be encouraging some banks to take on the reputational and legal risks associated with banking marijuana-related businesses.
By Anna Hrushka • Oct. 10, 2019
Square opens digital payments platform to more CBD businesses

The San Francisco-based payment processor's move comes more than four months after it rolled out an invite-only pilot program.
By Anna Hrushka • Oct. 04, 2019
Deposit growth, cybersecurity risk are top community bank concerns, survey finds

Liquidity risk is a top concern for many community bankers as a poll from the Federal Reserve, FDIC and state bank supervisors reflected a shift in focus from regulation to funding.
By Dan Ennis • Oct. 04, 2019
Industry execs question cannabis banking bill's potential impact

One compliance officer says she is concerned "there's not enough teeth" to provide safety for banks that service pot-related businesses.
By Anna Hrushka • Oct. 01, 2019
House OKs landmark cannabis banking bill

If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.
By Anna Hrushka • Sept. 26, 2019
Banks worth $47T adopt UN-backed responsible banking principles

The launch of the initiative on the eve of the U.N. Climate Action Summit in New York comes as more financial institutions are emphasizing their commitments to socially responsible investing.
By Anna Hrushka • Sept. 24, 2019
10 lessons Fannie Mae learned redesigning its security network

The lending company experienced minor hiccups while building out micro-segmentation.
By Samantha Ann Schwartz • Sept. 16, 2019
Senate panel chairman eyes cannabis banking vote by year's end

Passage of legislation to protect banks that service marijuana-related businesses would be a major victory for the cannabis industry, which has remained largely cash-based over a lack of access to banking services.
By Anna Hrushka • Sept. 13, 2019
Breach isn't pulling Capital One off its cloud course

Executives continue to cite the "all-in" mantra after the bank saw millions of customers' data exposed this year.
By Dan Ennis • Sept. 11, 2019
California lawmaker pulls cannabis banking bill ahead of vote

The state is expected to post $3.1 billion in licensed cannabis sales this year. But as long as pot remains a Schedule 1 drug under federal law, many banks are reluctant to accept those deposits.
By Anna Hrushka • Sept. 11, 2019
Chime's SpotMe covers banking customers who overdraw up to $100

Users can sign up for the program if their Chime direct deposits total $500 or more per month. But the negative balance the bank will cover depends on a user's account history.
By Dan Ennis • Sept. 09, 2019
Banks have more to lose from data breaches than other companies

An Experian survey revealed 83% of consumers expect to be notified within 24 hours if the breached company is a bank. That compares with 75% for a government agency, 73% for a health care organization and 61% for a retailer.
By Dan Ennis • Sept. 04, 2019
'Systemically important' cloud firms lack oversight, lawmakers say

A disruption to Amazon Web Services, Microsoft Azure or Google Cloud could paralyze a significant portion of several banks' business and perhaps be a national security threat, lawmakers wrote.
By Dan Ennis • Aug. 26, 2019
Advocates seek 'unified voice' from regulators on small-dollar loans

U.S. consumers borrow nearly $90 billion every year in loans between $300 and $5,000, the Office of the Comptroller of the Currency said. But few banks are moving into that market.
By Anna Hrushka • Aug. 23, 2019