The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
Despite the growing legality of marijuana sales, banks have largely written off the industry as being too high-risk. Recent remarks by Attorney General Jeff Sessions would seem to reinforce that position.
Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.
Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?