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Who’s on First With Faster Payments?

The Clearing House has been doing it since 2017. Where’s the Fed?

By Bill Poquette, Editor-in-Chief

The Federal Reserve isn’t moving fast enough on faster payments to suit some people. Private enterprise has been stepping up and the question arises: Is a Fed-operated faster payments network necessary?

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Toward a More Modern CRA

Regulators and industry groups ramp up discussions.

By Bill Poquette, Editor-in-Chief

In late August last year, the Office of the Comptroller of the Currency released an Advance Notice of Proposed Rulemaking seeking comment on the best ways to modernize the Community Reinvestment Act. A couple of months later, Comptroller Joseph M. Otting was quoted as saying revising the CRA was the No. 1 reason he was lured to Washington from his post as CEO of OneWest Bank in sunny Southern California.

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The Next Big Thing?

BB&T-SunTrust may start a new merger wave.

By Bill Poquette

This is huge. BB&T and SunTrust, the 16th and 17th largest U.S. banks, are merging. The combined bank jumps to No. 8 after the four multi-trillion behemoths, then Goldman Sachs, Morgan Stanley and U.S. Bank.

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Credit Unions’ 2019 Wish List

More liberal field of membership rules are a top priority.

By Bill Poquette

What’s on credit unions’ advocacy wish list this year? Sure, they want some of the same things banks want: reduced examination burden on smaller institutions; guidance and resources for coping with CECL; collaboration on cybersecurity standards; a regulatory environment that fosters growth — things that would benefit all community financial institutions.

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The Cannabis Conundrum

States continue to legalize marijuana, but federal law lags trend.

By Bill Poquette

After the 2018 midterm elections, voters in 33 states have legalized marijuana to some degree, and Michigan in November became the 10th state to allow recreational use. Missouri was one of two states, along with Utah, to give the nod to medical marijuana in the fall balloting.

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