banking

Marcie Sillman speaks with Representative Derek Kilmer, a Democrat representing Washington's 6th Congressional District, about the Senate passage of The American Savings Promotion Act, a bipartisan bill to allow more financial institutions nationwide to offer prize-linked savings accounts.

Flickr Photo/megawatts86 (CC-BY-NC-ND)

Ross Reynolds talks with Gwendolyn Hallsmith, executive director of the Public Banking Institute, about the benefits of creating a public bank in Seattle.

Flickr Photo/javacolleen (CC-BY-NC-ND)

Seattle’s HomeStreet Bank has sold a quarter of its mortgage-servicing business to a bank in Atlanta. It’s a sale that moves $3 billlion worth of mortgage relationships out of state. 

Bank Of America's Penalty: As Big As It Seems?

Aug 22, 2014

Ross Reynolds talks with Dean Baker, co-founder of the Center for Economic and Policy Research, about the almost $17 billion settlement against Bank of America and why it's not as big as it seems.

The Tangled Web Of Payday Lenders On Tribal Lands

Jul 30, 2014

David Hyde talks with financial consultant Shawn Spruce, a member of the Pueblo tribe in New Mexico, about the intersection of payday lenders and Native American tribes.

Payday lenders are increasingly situating themselves on tribal lands across the country to skirt state laws, ensnaring Washington residents. Many tribes are working to save their members from unscrupulous loans.

Harborside Health Services

Ross Reynolds speaks with Steve DeAngelo, executive director of Harborside Health Services, a medical marijuana dispensary in California, about what it's like to run a $30 million business mostly on cash.

KUOW Photo/Bond Huberman

Posey Gruener speaks with Russ Rosendal, CEO of Salal Credit Union, about why they decided to offer banking services to licensed marijuana growers in Washington state.

And, Ross Reynolds speaks with AP reporter Kristen Wyatt about Colorado lawmakers' approval of a financial system designed expressly for the Marijuana industry.

KUOW Photo/Amy Radil

Many marijuana business owners say they have bank accounts, but aren’t completely forthright with their bankers about the nature of their businesses. They claim to be in “consulting” or “medical research.”  And they know they could lose those bank accounts suddenly, at any time, since federal law prohibits banks from holding any funds associated with illegal drugs.

Can The Postal Service Help Unbanked Americans?

Feb 7, 2014
Flickr Photo/tales of a wandering youkai

Marcie Sillman talks with Michael Barr, professor of law at the University of Michigan and author of "No Slack: The Financial Lives of Low-Income Americans," about possible solutions for Americans who don't use traditional financial services.

Flickr Photo/401(K) 2012

Attorney General Eric Holder recently said that legal marijuana businesses need access to bank accounts as a public safety issue. Bankers and pot entrepreneurs hailed those comments as an important step. But they said it will take a change in federal law to make banks truly open their doors.

Northwest banks say 2014 may be the year consumers start to see a new generation of credit cards that are less prone to fraud.

The White House says President Obama intends to nominate Federal Reserve Vice Chairwoman Janet Yellen to chair the Federal Reserve, once Ben Bernanke completes his term in January.

If confirmed, Yellen, 67, would be the first woman to head the American central bank.

Obama is scheduled to make the announcement at 3 p.m. ET. Wednesday.

The Wall Street Journal reports:

Courtesy of Washington State Treasurer's Office

Bank of America will handle proceeds connected to marijuana sales despite federal restrictions. Under federal policy, the government views money from marijuana sales as money laundering.

The conflict between federal law and pot legalization in Washington and Colorado will be on the agenda in Congress this week.

Put Your Money Where Your Mouth Is: The Conversation Talks Economics

Aug 21, 2013
Paul Krugman
Center for American Progress

We discuss the economy a lot on The Conversation. From the effects of the recession to financial planning, money is always in the news. Today, we rebroadcast some of our best interviews with economists and financial reporters, including a talk with Paul Krugman in front of a live studio audience.

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