Banks simply can’t ignore legal issues surrounding marijuana related businesses, even as
more states OK cannabis use.
As overdraft fees face regulatory pressure and consumer complaints, it’s time for bankers to adopt a simpler, more transparent approach.
Bankers have many things to worry about but being ‘disrupted’ by alternative industries is not one of them. Reason: too much regulation.
Retail banks will need to prepare now to replace revenues lost because of new CFPB rules on overdrafts.
Community banks are different from their larger brethren and should be regulated as such.
Financial institutions need to prepare now for more regulatory scrutiny of overdraft programs. And watch out for those fee waivers.