#banking-issues

#banking-issues

The U.S. cannabis industry is booming, projected to surpass $50 billion, but faces significant operational challenges.

Regulatory complexities create a fragmented market for cannabis businesses across different states.

Limited banking access restricts financial options for cannabis companies, complicating management.

Competition from established industries poses a significant threat to smaller cannabis businesses.

The marijuana industry seeks to loosen federal laws to access banking and enhance growth.

US citizens in Germany face unique challenges in saving for retirement due to taxation and banking complications.

The Foreign Account Tax Compliance Act (FATCA) creates hurdles for American clients in German banks.

Capital One is facing major technical issues affecting customer access to accounts, attributed to a third-party vendor.

The bank is working to resolve these issues quickly, promising compensation for incurred fees.

NatWest and RBS banking apps faced significant outages, disrupting customer access and payments on a critical financial day.

Customers experienced online banking issues on pay day, affecting HSBC, Virgin Money, and Nationwide.