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Morning Scan: BofA's Stress Test Team; Hedge Funds Sue Puerto Rico GDB

American Banker

BofA has fallen short on the test three of the past five years, and the bank has opted this year to employ a manager, not a numbers cruncher, to lead the team working to satisfy the complicated and controversial post-crisis regulation. The Charlotte, N.C., firm was the…

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CUs Try To Solve The Cannabis Cash Conundrum

PYMNTS

This, in turn, means that banks cannot offer services to businesses, as they would face prosecution from regulators. Separately, Apple is being eyed by regulators in Russia for allegedly unfair competitive practices. The aforementioned charges, said regulators, may add up the equivalent of high interest rates charged on the loans.