Washington Watch

Independent Banker

Advocacy Advocacy & Policy Commercial/Business Consumer General Industry Insight Lending Membership Regulation & Compliance Regulation / Compliance Viewpoints Washington WatchDisparate Opinions. Supreme Court upholds disparate impact theory of anti-discrimination law. By Lilly Thomas.

Washington Watch

Independent Banker

Needless to say, the advocacy process with the CFPB has moved at the speed of Washington. Just as this victory serves as a reward for the hard work of our association and industry, it is also a reminder that effective advocacy in Washington is performed over years. Years in the Making.

Washington Watch

Independent Banker

Needless to say, the advocacy process with the CFPB has moved at the speed of Washington. Just as this victory serves as a reward for the hard work of our association and industry, it is also a reminder that effective advocacy in Washington is performed over years. Years in the Making.

Washington Watch

Independent Banker

While Washington often moves at a glacial pace, it recently came to life to enact reforms benefiting bank and thrift holding companies. Advocacy & Policy Industry Insight Legislation Viewpoints Washington Watch Holding Firm.

Washington Watch

Independent Banker

Advocacy & Policy Regulation / Compliance Washington Watch Once More, with Feeling. Second streamlining regulatory review requires firm agency commitment. By Chris Cole.

Libra’s Long Week In Washington 

PYMNTS

Washington must go beyond the hype and ensure that it’s not the place where innovation goes to die.

Robinhood is back in Washington’s crosshairs after leverage glitch

Bank Innovation

is once again getting unwanted scrutiny in Washington after some of the brokerage’s customers took advantage of a flaw that allowed them to make highly leveraged trades without putting down enough cash to back the transactions. Robinhood Markets Inc.

VisionBank team scraps plan for new Washington bank

BankThink

Community banking De novo institutions Career moves Washington DCMelinda McClure and Richard Horn have joined the management team at Old Dominion Bank in northern Virginia after struggling to raise enough capital for their de novo effort.

Community Bankers to Washington: Let’s Work Together To Get the Job Done

Finer Points

Last week’s ICBA Washington Policy Summit showed once again that community bankers are not only willing to go the extra mile—they’re even grateful for the privilege. Advocacy Community Banks Credit Unions Farm Credit System Regulatory Relief Washington Washington Policy SummitWith nearly 1,000 community bankers and industry advocates in the nation’s capital to advocate positive reform in more than 300 meetings with policymakers, there was a feeling of enthusiasm […].

Former Bank of Georgetown execs plan new bank in Washington

BankThink

Community banking De novo institutions Capital Washington DCFounders Bank is the latest de novo effort that will target the nation's capital.

TikTok’s Head To Connect With Legislators In Washington

PYMNTS

As suspicions surrounding the app’s ties to China continue to increase, TikTok chief Alex Zhu will meet with legislators in Washington, D.C. next week. Marsha Blackburn (R-Tenn.), who has been an outspoken critic of the tech industry and especially TikTok, will meet with the executive, CNBC reported.

Washington’s Metro System Plans For Mobile Payment Future

PYMNTS

To enable mobile payments, the Washington Metropolitan Area Transit Authority (WMATA) is working with its fare payment vendor to upgrade its payment capabilities. Mobile Payments mobile app News Payment platforms Transit Payments Washington Metro What's HotWMATA seeks to be “mobile ready” by 2019, the agency said in a statement.

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Mr. Stumpf Goes To Washington

PYMNTS

20), Mr. Stumpf will go to Washington, and we’ll get the verdict straight from those congressional horses’ mouths. With the NFL back in season (Pats 2-0 for those keeping count at home), the term “Greatest Show on Turf” is getting thrown around an awful lot these days. And while the NFL and its players are usually the Greatest Show on Turf, this week, the Senate Banking Committee hearing with Wells Fargo’s CEO might have given the league a run for its money but for two reasons.

Square Partners With Washington Nationals To Offer In-Seat Concessions

PYMNTS

Payments company Square has partnered with the Washington Nationals and Levy Restaurants to let fans order concession menu items right from their seats, according to reports.

Let’s Take Last Week’s Convention Energy to Washington

Finer Points

Advocacy Convention Washington Policy Summit ICBA’s national convention is always an incredible experience. If you haven’t witnessed nearly 3,000 members of the community banking industry in the same place at the same time, you should make a point to do so at least once in your career. But there was something special about this year’s convention. There was a feeling, […].

VisionBank files application to open in Washington

BankThink

De novo banks Community banking Financial regulations Washington DC VirginiaOrganizers plan to raise $25 million to $35 million in initial capital to focus on small and midsize businesses in northern Virginia.

Amazon Toured Sites In Washington, DC, Area Last Week

PYMNTS

Washington, D.C., According to news from The Washington Post , Amazon officials toured locations in Washington, D.C., Officials told the Post the tours in Northern Virginia happened early last week, while the Washington tours occurred in the middle of the week and Amazon workers toured locations in Montgomery County toward the end of last week. “We’ve Amazon e-commerce employment headquarters Merchant Innovation News Retail washington dc What's Hot

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Washington Federal, Anchor extend merger deadline

BankThink

Washington Federal, which is working through Bank Secrecy Act issues, also allowed Anchor to consider offers from other potential buyers. Community banking M&A Consolidations AML Washington

Union to gain scale around Washington with $600M acquisition

BankThink

Community banking M&A Capital Virginia Washington DCUnion Bankshares will gain 15 branches and $2 billion in loans in northern Virginia after it buys Access National.

Group plans new bank in Washington

BankThink

Community banking De novo banks Capital Washington DCVisionBank is the second de novo effort that would focus on the nation's capital.

Washington Trust Bank To Test Expense Reporting from Startup Obloco

Bank Innovation

It’s a truism that expense reporting sucks. Keeping your receipts together (and the ink may be toxic) and then typing up a summary to hand over to finance and wait who knows how long to be reimbursed — what a pain. Then the finance department has to input paper documents into Read More.

Pot banking goes to Washington: 3 takeaways

BankThink

Members of both parties want to make it easier for legal cannabis businesses to access financial services, but myriad obstacles stand in the way of that goal. Marijuana banking Regulatory reform Regulatory relief AML Commercial banking Community banking Federal credit unions House Financial Services Committee

Washington de novo says it has conditional approval

BankThink

De novo institutions Community banking Capital Washington DCThough it would be based in the nation's capital, MOXY Bank would also have significant operations in Charlotte, N.C.

Washington State AG Sues Uber Over Data Breach

PYMNTS

More legal woes for Uber : Washington State’s attorney general has sued the ride-sharing company, alleging it had violated the state’s data breach notification law. According to news from Reuters , Washington State’s attorney general, Bob Ferguson, filed a multimillion-dollar lawsuit against Uber, alleging that the names and drivers’ license numbers of at least 10,888 Uber drivers in the state had been stolen without their being notified as state law requires.

Washington Proposes Amendments to Student Loan Servicing Rules

CFPB Monitor

The Washington State Department of Financial Institution (DFI) has published proposed revisions to its student loan servicer regulations. This proposal would amend rules that went into effect earlier this year pursuant to Washington’s student loan servicing law.

Ripple chairman: Washington lobbying has led to poor crypto judgements

Bobsguide

Washington is in a learning phase,” he told an audience at Money20/20. Chris Larson, executive chairman and co-founder of Ripple, said mistakes have been made in the ways in which regulators have dealt with cryptocurrencies.

Why Washington mobilized so quickly against Facebook's crypto plans

BankThink

The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe.

Washington poised to have first-ever bank sold to a credit union

BankThink

has agreed to buy Bank of Washington in Lynnewood. Community banking Credit unions M&A WashingtonSound Credit Union in Tacoma, Wash.,

Is Washington’s dysfunction a systemic risk?

BankThink

Financial firms have mostly shrugged off the government's budget woes, but Washington's gridlock might pose a bigger risk than they think. Treasury bonds Risk management Policymaking SIFIs Crisis management Debt limit Steven Mnuchin Treasury Department

Higher rates, loan demand boost Washington Federal's 1Q profit

BankThink

Washington Federal had to delay a pending acquisition after issues emerged with its anti-money-laundering compliance. Earnings Commercial lending Consumer lending AML WashingtonThe Seattle bank's improved loan yields offset higher expenses tied to Bank Secrecy Act remediation.

Washington calls community banker

ABA Community Banking

Why ICBA’s Rebeca Romero Rainey, former CEO, left N.Mex. for “the swamp” People Community Banking. 1Community Banking

John Marshall Bank taps veteran Washington banker as next CEO

BankThink

Community banking Consolidations Succession planning Washington DC VirginiaChristopher Bergstrom led Cardinal Financial when it sold itself to United Bankshares in 2017.

Group applies to open minority owned bank in Washington

BankThink

Community banking De novo banks Capital FDIC Washington DC North CarolinaMoxy Bank would focus on low- and moderate-income depositors in the nation's capital, while operating a lending platform in North Carolina.

Insider promoted as part of succession plan at Washington bank

BankThink

Community banking Succession planning M&A Consolidations WashingtonJeff Deuel will take over as CEO of Heritage Bank in Olympia, Wash., for Brian Vance, who will remain as the head of the holding company until next year.

Washington Federal joins list of banks under BSA orders

BankThink

Community banking AML M&A OCC WashingtonThe Seattle company first disclosed an issue in September, when it withdrew an application to buy Anchor Bancorp.

Group plans Washington bank with Ethiopian-American focus

BankThink

Community banking De novo banks Under-served populations Underbanked Capital Washington DC Virginia MarylandMarathon International Bank would target the Ethiopian community with specific advertising and educational programs.

Mortgage gift from Washington?

ABA Community Banking

SNL Report: Unexpectedly, small lenders gain market share under QM Retail Banking Compliance Mortgage CFPB. 1Compliance

What (else) banks want from Washington

BankThink

Financial firms are going on offense in Washington, pressing a policy agenda that would have been unimaginable just a few months ago. Some proposals, like reforming the Consumer Financial Protection Bureau, have been floated before while others began to gain traction after Republicans swept the November elections. Here's a look at some of the industry's requests.

Smart Card Alliance opens Washington, DC-area training center

Mobile Payments Today

The National Center for Advanced Payments and Identity Security in Crystal City, Virginia, will be a permanent facility for live educational activities hosted by SCA

Washington Federal to buy Anchor Bancorp for $64 million

BankThink

M&A Capital Activist investors WashingtonAnchor's sale agreement comes less than a year after it put a representative of the activist investor Stilwell Group on its board.

Washington DFI Extends SCRA Interest Rate Cap to Servicemember Spouses

CFPB Monitor

The DFI disagreed, stating that because Washington is a community property state, debts incurred during the marriage are presumed to be community debt.

New requirements for collection of medical debt in Washington effective July 28

CFPB Monitor

Effective July 28, debt collectors licensed in Washington will be subject to new requirements when collecting medical debt. Debt Collection State CFS Monitor debt collection medical washington

Washington can’t get past Dodd-Frank

BankThink

The fight over the Senate's regulatory reform bill illustrates how entrenched Democrats and Republicans remain over the crisis-era law, eight years after its passage. Regulatory relief Regulatory reform Policymaking Dodd-Frank Mike Crapo