Credit Unions: Page 8

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    Evelyn Simak
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    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 • Aug. 20, 2019
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    Flickr user xJason.Rogersx
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    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 • Aug. 15, 2019
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    Natalie Meepian via Getty Images
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    Trendline

    M&A

    President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

    By Banking Dive staff
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    Flickr user eggrole
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    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 • Aug. 8, 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 • Aug. 5, 2019
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    SunTrust Plaza
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    Lawmakers press BB&T, SunTrust execs on merger's impact

    Executives defended the proposed $66 billion merger Wednesday, saying the combination will boost the new entity's investment in technology. 

    By • July 25, 2019
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    Pixabay
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    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 • July 24, 2019
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    Federal Reserve Board
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    Senators ask Powell why Fed is mulling own real-time payments system

    Large banks have invested more than $1 billion in a network, The Clearing House, launched in 2017. But retailers and small banks have raised concerns about the system's cost and reach.

    By • July 23, 2019
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    Wikimedia Commons
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    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 • July 22, 2019
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    Ally
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    Ally abandons credit card business for point-of-sale loan model

    Ally Financial hopes its $190 million purchase of a medical lending company will push its point-of-sale capabilities to other retail sectors.

    By • July 19, 2019
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    Getty
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    FASB's delay of credit-loss standard not enough, banks say

    Banks and credit unions want FASB to do more than just delay new CECL accounting standards; they want the standards revisited.

    By Robert Freedman • July 17, 2019
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    Pixabay
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    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 • July 11, 2019