Legitimate cannabis businesses face challenges accessing financial services in the United States, with the substance being legal in some states but banned at the federal level. Most banks don’t want to touch them, even in states in which marijuana is legal. The Democratic-controlled House of Representatives recently passed the SAFE Banking Act to address some of these issues, but there is no guarantee that it will survive the Republican-dominated Senate.
Bank of New York Mellon
In March, the US Senate reformed the 2010 Dodd-Frank Act by loosening its tight regulations on smaller financial organizations, welcome relief for those firms that have been struggling for eight long years with requirements targeted for larger, systemically important institutions during the aftermath of the 2008 financial crisis. Most are upbeat about the Senate bill, but how will it fare in the House of Representatives?
“Equal pay for equal work” has been a familiar mantra, and law in many countries, for decades—but does reality coincide, especially in the world of finance? Various studies have revealed disturbing gender pay gaps, and the push is on for banks around the globe to disclose wage data according to gender and ethnicity, something many seem reluctant to do.