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The looming legalization of cannabis might radically change the landscape for banks, credit unions, and other financial institutions servicing cannabis-based businesses.
The instant functionality of digital payments is now an application away for 10,000+ US banks and credit unions.
Cannabis companies can open interest-bearing accounts with Safe Harbor Financial, a move some say was long overdue.
An NCUA report found that MDI CUs increased membership numbers, added training opportunities, and reached more customers.
Digital authentication is a primary concern now that many payments are instant.
The Cannabis-focused banking act would expand marijuana-industry protections, but controversy abounds.
Even "exploratory market shocks" wouldn't topple 8 major US banks.
Traditional banking's interest in digital currency may reduce regulatory scrutiny, improving conditions for innovation among small crypto companies.
Apps to finally reach the unbanked and screen-scraping replacements indicate more tech transformation in the financial sector.
Customer service chatbots may be more trouble than they're worth & CU buys a bank in the 4th such tie-up of 2023
