BankProv Launches Crypto Lending Platform
BankProv, a Massachusetts bank with branches in Seabrook, Portsmouth, Exeter and Bedford, has partnered with a cryptocurrency technology firm to provide equipment financing for Bitcoin miners. BankProv, legally known as The Provident Bank, has partnered...
FinCEN Proposal Would Crack Down on Anonymous All-Cash Deals
In a move that the Financial Crimes Enforcement Network said would help combat money laundering in real estate, the federal agency plans to expand the Bank Secrecy Act to require information about the individuals behind all-cash real estate transactions. FinCEN...
CFPB: Two-Thirds of Bank Fees from Overdrafts
Banks earned an estimated $15 billion from overdraft fees in 2019, and smaller institutions brought in almost as much income per account as large banks, according to research from the Consumer Financial Protection Bureau. Noting the effects that overdraft fees have...
Should Lenders Fear Redlining Enforcement?
Citing the growing wealth gap for people of color and claims of ongoing housing discrimination nationwide, the U.S. Department of Justice announced a new initiative last month targeting “modern-day redlining” by residential mortgage lenders. The DOJ said it will...This Week’s Paper: Digital Edition
