Since cannabis is still illegal under federal law, the lucrative industry has struggled with limited access to loans and other bank services.
banking
Cash App parent company agrees to $80M settlement
Maine regulators were among agencies in 7 states leading the enforcement effort, which included 48 state agencies altogether.
The White House is cracking down on overdraft fees
The Consumer Financial Protection Bureau said Thursday it’s capping overdraft fees at $5 with a rule set to take effect in October 2025, if it isn’t overturned by Congress or altered under a Trump administration.
Walmart plans instant bank payments, cutting out card networks
Customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases.
Treasury warns that anti-‘woke’ banking laws like Florida’s are national security risk
Conservatives have sought to block environmental and socially conscious standards for investing, arguing that such initiatives can lead to unfair discrimination.
Bankers notch win in fight to keep billions in credit-card fees
A ruling made last week is on hold as the U.S. Supreme Court considers a broad challenge to the Consumer Financial Protection Bureau’s funding.
Kennebec Savings Bank announces hire of Aline Taylor
AUGUSTA — Kennebec Savings Bank President & CEO Andrew Silsby recently announced the addition of Aline Taylor as the chief retail banking officer and a new member of the bank’s leadership team. In her role, Taylor oversees the bank’s efforts in providing high-quality products and services across its branch network. Since joining Kennebec Savings Bank […]
Banks prepare to fight proposed curbs on overdraft fees
While banks have drastically cut back on overdraft fees in the past decade, the nation’s biggest banks still take in roughly $8 billion in overdraft fees every year.
Conservative Supreme Court seems open to an attack on the Securities and Exchange Commission
The case is just one of several this term in which conservative and business interests are urging the court to constrict federal regulators.
Franklin Savings Bank promotes Beckie Bowering to assistant vice president, cash management officer
Franklin Savings Bank has announced the promotion of Beckie Bowering to assistant vice president, cash management officer in Farmington. Bowering has been an integral part of the FSB team for 23 years. Her dedication and commitment to the bank and its customers have earned her this esteemed role, according to a news release from the […]