Marijuana companies in Colorado must use cash and take the risks inherent in dealing with large amounts of paper money because banks won't do business with them. State officials hope a new credit union can change that.
The fourth-largest mortgage servicing company has systematically faked key documents in foreclosures for years, according to a New York regulator, despite a national legal settlement in 2012 that was supposed to put a stop to such abuses by the industry.
Unless bankers change the internal culture that rewards executives and employees for financial misdeeds, a top banking regulator said Monday, they will end up forcing the government to break their companies up into smaller firms.
The Securities and Exchange Commission says that a New York high-frequency trading firm committed fraud. But it's letting the company pay a million dollars to put the matter to rest without admitting or denying anything.