It’s all in the way you interpret The Community Reinvestment Act

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According to BusinessInsider.com, the Trump Administration is pushing for funds meant for low-income neighborhoods to be funneled to the NFL for a new stadium. Questions: Who proposed the rule change and to whom? When was the law or rule passed? What are the pros and cons for putting stadiums in opportunity zones? Do you agree… Read more »

From White House to the Big House?

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It was only a week ago that President Donald Trump was praising Caterpillar Co. for producing such great bulldozers, as he met with company Chairman Doug Oberhelman at the White House. Less than a week later, officials from the Commerce Department, Internal Revenue Service, Federal Deposit Insurance Corp. and Illinois State Police moved in and… Read more »

Plan Ahead

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According to the Washington Post, five of the country‚Äôs largest banks, including JPMorgan Chase and Bank of America, still do not have credible plans for winding down their operations without taxpayer help if they start to fail. Questions: 1.How long do these banks have to submit their detailed bankruptcy plans to requlators? 2. What are… Read more »

Investigating Integrity

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A U.S. watchdog agency is preparing to investigate the Federal Reserve and other regulators in order to determine whether they are too lenient on the banks they are meant to police. Questions: 1. What is the strategy to be used in this investigation? 2. Explain the “revolving door” concept that the article mentions. 3. What… Read more »

Credit Unions for Pot?

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Since medical marijuana was legalized in Colorado in 2001 and recreational marijuana was legalized a year ago, sellers have had limited, if any, access to banking services. As a result, a group of other entrepreneurs in Colorado want to start the first-ever financial institution established specifically to serve the pot industry. Questions: 1. What are… Read more »

Justice goes after “Rigged” rates

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The Federal Deposit Insurance Corporation has sued 16 big banks that set a crucial global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves. Questions: 1. Which banks are included in the suit? 2. What was the rate and for how long are they accused of rigging it?… Read more »

Did you know that cash absorbs the smell of marijuana?

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John Davis, CEO of Northwest Patient Resource Center, runs two medical marijuana dispensaries in Seattle. In Washington state, Davis runs a legal enterprise that generates thousands of dollars each quarter in state tax revenues. However, since selling pot is still a federal crime and banks are regulated by the Federal Deposit Insurance Corporation, banks are… Read more »

What’s a Bitcoin?

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Bitcoin is a peer-to-peer currency, meaning it is not issued by a central authority, like the dollar or yen. The money supply grows as the network grows and will max out at about 21 million bitcoins. But right now, you can purchase them online on the Mt. Gox currency exchange or an over-the counter market…. Read more »