Risk: Page 36
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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 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
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. 9, 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. 4, 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 -
Credit union regulator issues guidance for banking hemp
At least two senators have written letters indicating that hemp businesses are struggling to open bank accounts because many financial institutions still question whether they can service the industry.
By Anna Hrushka • Aug. 20, 2019 -
Cloud security burden falls on customer, Amazon exec says
Only customers have a true sense of "what they intended with resources under their control," Amazon Web Services' chief information security officer said after a senator asked about the company's role in Capital One's data breach.
By Samantha Schwartz • Aug. 20, 2019 -
Trump phoned bank CEOs as stocks dropped Wednesday, sources say
The meeting was held on a day the Dow dropped 800 points, or 3%, amid warnings of a recession.
By Anna Hrushka • Aug. 16, 2019 -
5 regulators respond to request for hemp banking clarity
Although the production and sale of industrial hemp was legalized last year, financial institutions still question whether services can be extended to businesses associated with the product.
By Anna Hrushka • Aug. 15, 2019 -
Small-business lending study shows racial disparity
More than half of black sole proprietors who applied for financing received none, a New York Fed study found.
By Dan Ennis • Aug. 14, 2019 -
Schumer asks regulators for clarity on hemp banking
Senate minority leader's letter highlights how hemp growers are facing some of the same reluctance from financial institutions as pot-related businesses.
By Anna Hrushka • Aug. 13, 2019 -
Federal Reserve considers tool to reduce risk of downturn
Banks, whose profits are already under strain from low interest rates, may oppose enacting the buffer.
By Anna Hrushka • Aug. 12, 2019 -
Alaska credit union ends pot pilot after losing insurance coverage
Providing banking to MRBs may have been a "more reasonable prospect" if the burden of compliance was not so high, the credit union's CEO said.
By Anna Hrushka • Aug. 8, 2019 -
Alternative credit data boosts loan approval 27%, Upstart shows in CFPB test
People with credit scores between 620 and 660 were approved about twice as often in a two-year test of the lender's model, which takes into account a candidate's education and job history.
By Dan Ennis • Aug. 7, 2019 -
Fed commits to real-time payments system by 2024
The central bank looks to bring faster transactions to community bank customers and act as a safeguard in a marketplace already served by The Clearing House.
By Dan Ennis • Aug. 6, 2019 -
ABA slams non-member deposit proposal for federal credit unions
The National Credit Union Administration's proposal would allow federal credit unions to have up to half of their deposits come from other credit unions and government entities.
By Anna Hrushka • Aug. 5, 2019 -
Community banks face risk amid escalating trade war
Tariffs will affect larger banks, but diversification will shield bigger financial institutions from the impact, an analyst said.
By Anna Hrushka • Aug. 2, 2019 -
Capital One breach raises questions about security and cloud-first strategies
If a breach hits a company with technology maturity, how vulnerable are less mature organizations?
By Naomi Eide • Aug. 2, 2019 -
Barclays drops private prisons as more banks weigh reputational risks
The announcement follows in the footsteps of other large financial institutions turning away from the industry, as more banks make business decisions related to social issues.
By Anna Hrushka • Aug. 1, 2019 -
Capital One breach prompts class-action suits, state AG probes
At least two consumers and three attorneys general initiate action against the bank in the wake of this week's security concerns.
By Dan Ennis • July 31, 2019 -
Capital One breach exposes 106M customers' data
The bank expects the incident to cost it between $100 million and $150 million this year.
By Dan Ennis • July 30, 2019 -
CFPB to end mortgage exception for Fannie, Freddie
A "patch" that lets Fannie Mae and Freddie Mac offer mortgages to borrowers with a debt-to-income ratio above 43% is expiring.
By Dan Ennis • July 26, 2019 -
Pot hearing reveals confidence gap in banking a budding industry
Bank and credit union executives showed support for the SAFE Act at Tuesday's Senate hearing, but federally regulated bodies may want more guidance than what FinCEN provides.
By Anna Hrushka • July 24, 2019 -
Senate panel poised to hear pot banking challenges
Tuesday's hearing comes as the bipartisan Secure and Fair Enforcement (SAFE) Banking Act gains momentum in Congress.
By Anna Hrushka • July 22, 2019
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