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Financial institutions news from around the web: October 14 – 18, 2024

Written on Oct 18, 2024

From stigma to strategy: Bridging the gap between bankers and cannabis operators 
As more states legalize cannabis, the consumer base is becoming increasingly reflective of society at large. Bankers aiming to stay competitive and provide new products and services, such as lending and payments solutions, must understand the needs of their customers and the industry. 

Tensions rise between banks and tech companies over online fraud liability in the UK 
Tensions are escalating between banking and payment companies and social media firms in the U.K. over who should be liable for compensating people if they fall victim to fraud schemes online. 

'Soft landing' optimism spurs broad Wall Street rebound at big banks 
The biggest banks staged a broad Wall Street rebound in the third quarter as corporate clients got more comfortable issuing new debt and pursuing mergers and some traders recorded one of their best quarters in years. 

Credit unions, fintechs should face same regulations as banks: Fed’s Bowman 
Credit unions, fintechs and nonbank lenders should face the same regulation, guidance and supervisory expectations when involved in the same activities — and doing so is a core concept of financial regulation, Federal Reserve Governor Michelle Bowman said.