Over 7 million Americans don't have bank accounts. One big incentive to opening one: direct deposit of federal relief payments.
Mainstream banks may offer a layer of legitimacy to cryptocurrency that is appealing to big institutional investors.
Individual investors are apparently fueling the increase. It's a similar strategy to what we've seen with GameStop stock.
Many businesses are nervous about borrowing right now. And banks aren't earning much on the loans they are making.
They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
Large banks can't deny services to businesses, like gun-makers and oil drillers, just based on what they do.
A recent FDIC report found that community bank profits rose last quarter, thanks to fee income from PPP loans and mortgage refinancing.
The law is meant to demand that when banks take deposits from a particular area, they also make loans there.
Bill Bynum says Hope Credit Union is his ministry, giving predominantly Black communities a place to bank.
One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships
That leaves them restricted access to capital, according to a study by the New York Fed.