House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
With marijuana sales set to become legal in California soon, a working group there says that a state-backed financial institution should be among the measures weighed to address the lack of banking services available to the pot industry.
Millennials — many of whom joined credit unions in recent years as the movement's membership expanded — are relying more heavily on personal loans than their Gen X predecessors while paring back on credit cards and mortgages.
While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.