Bankshot

Fintechs created earned wage access so cash-strapped employees could get an advance on their next paycheck to cover urgent expenses. Some say repeat usage of fee-based EWA resembles a payday loan, sparking debate over whether regulators should call EWA a loan.

The demise of FTX, a prominent crypto exchange, late last year, has left the crypto industry grappling with the consequences and uncertainties left in its wake. As the crypto sector teeters on the edge of more forceful regulation, the aftermath of FTX's explosion has revealed deep fault lines within the industry and increased banks' already healthy level of caution towards the technology, especially after more crypto-aligned banks failed in 2023. The once-unified industry now faces a turbulent next few years. In this episode of BankShot, we delve into the implications of FTX's downfall and its lasting impact on banks, the crypto landscape, and the emerging path towards regulatory clarity and stability.

Holy Trinity Baptist Church Federal Credit Union has about $24,000 in assets, making it one of the smallest credit unions in the U.S. But it has survived and thrived over the past 50-plus years with low overhead and a small but loyal membership.

Consumers who aren't proficient in English have long struggled to get help from banks in their preferred language. Banks and regulators are trying to fix that, but the solution has taken years.

A reporter tried for more than two years to speak with Michael Bacon, the megabank's former chief security officer. Bacon eventually sat for around 30 interviews, painting a detailed picture of the Wells executive suite as the fake-accounts scandal unfolded.

Frustrations with gatekeeping, a lack of diversity and the way home appraisal is overseen are spurring many practitioners to call for an overhaul of the industry's governance structure.

Democrats are disfavored in this year's midterm elections, but several factors are keeping races close. The outcome will affect the bank regulatory trajectory for at least the next two years.

Congress is expected to pass the SAFE Banking Act by year-end in one way or another. Bankers can learn a thing or two from others who have already taken the plunge.

Congress is expected to pass the SAFE Banking Act by year-end in one way or another. Bankers can learn a thing or two from others who have already taken the plunge.