Latest news with #bankingreform
Yahoo
3 days ago
- Business
- Yahoo
Why Curaleaf Stock Surged 13% Higher Today
Key Points A letter sent by a clutch of attorneys general to congressional leaders made a case for banking reform for the marijuana industry. Lack of access to basic financial services has been quite a hindrance for the business. 10 stocks we like better than Curaleaf › A new political push for marijuana law reform had an intoxicating effect on Curaleaf (OTC: CURLF) stock as the trading week came to an end. On Friday, the multi-state operator (MSO) was quite the buzzy title on the exchange, with investors boosting its share price by 13% on the day. That compared quite favorably to the minor (0.4%) gain of the S&P 500 (SNPINDEX: ^GSPC) at market close. Banking on change Late on Thursday, a group of 32 attorneys general from U.S. states and territories sent a letter to congressional leaders imploring them to pass a marijuana banking bill. The Secure and Fair Enforcement Regulation (SAFER) Banking Act would allow cannabis businesses to access basic financial services; as the drug is illegal at the federal (if not necessarily the state) level, they are currently barred from these. Many are consequently forced to operate on a cash-only basis, which increases the risks of crime. In the letter, the attorneys general wrote, "As more states continue to consider and implement legalization efforts, the lack of access to America's financial system by cannabis businesses -- which is a direct result of federal banking law -- presents a considerable safety issue for the public." Democrats and Republicans alike Reflecting the broad support marijuana legalization enjoys among the general American public, the 32 attorneys general -- from locales such as Maryland; Washington, D.C.; and Georgia -- are a bipartisan group. While it remains to be seen what, if any, effect their letter has on the rather slow-moving Congressional pot reform efforts, it's good for the weed industry that there continues to be pressure for change. Should you buy stock in Curaleaf right now? Before you buy stock in Curaleaf, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Curaleaf wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Curaleaf Stock Surged 13% Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
4 days ago
- Business
- Globe and Mail
Why Curaleaf Stock Surged 13% Higher Today
Key Points A letter sent by a clutch of attorneys general to congressional leaders made a case for banking reform for the marijuana industry. Lack of access to basic financial services has been quite a hindrance for the business. 10 stocks we like better than Curaleaf › A new political push for marijuana law reform had an intoxicating effect on Curaleaf (OTC: CURLF) stock as the trading week came to an end. On Friday, the multi-state operator (MSO) was quite the buzzy title on the exchange, with investors boosting its share price by 13% on the day. That compared quite favorably to the minor (0.4%) gain of the S&P 500 (SNPINDEX: ^GSPC) at market close. Banking on change Late on Thursday, a group of 32 attorneys general from U.S. states and territories sent a letter to congressional leaders imploring them to pass a marijuana banking bill. The Secure and Fair Enforcement Regulation (SAFER) Banking Act would allow cannabis businesses to access basic financial services; as the drug is illegal at the federal (if not necessarily the state) level, they are currently barred from these. Many are consequently forced to operate on a cash-only basis, which increases the risks of crime. In the letter, the attorneys general wrote, "As more states continue to consider and implement legalization efforts, the lack of access to America's financial system by cannabis businesses -- which is a direct result of federal banking law -- presents a considerable safety issue for the public." Democrats and Republicans alike Reflecting the broad support marijuana legalization enjoys among the general American public, the 32 attorneys general -- from locales such as Maryland; Washington, D.C.; and Georgia -- are a bipartisan group. While it remains to be seen what, if any, effect their letter has on the rather slow-moving Congressional pot reform efforts, it's good for the weed industry that there continues to be pressure for change. Should you invest $1,000 in Curaleaf right now? Before you buy stock in Curaleaf, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Curaleaf wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,774!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,942!* Now, it's worth noting Stock Advisor's total average return is 1,040% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025
Daily Mail
7 days ago
- Business
- Daily Mail
Bank of England Governor hits back at Reeves over regulation
By Andrew Bailey yesterday put himself at odds with Rachel Reeves over the Chancellor's outspoken attack on regulation. The Bank of England Governor made clear that he did not share Reeves' recent claim that the enforcement of red tape acted as a 'boot on the neck' of business. Andrew Bailey yesterday put himself at odds with Rachel Reeves over the Chancellor's outspoken attack on regulation. The Bank of England Governor made clear that he did not share Reeves' recent claim that the enforcement of red tape acted as a 'boot on the neck' of business. Speaking to MPs on the Treasury select committee, he urged caution over a proposed shake-up of the ring-fencing system that separates traditional lending and deposit-taking from riskier investment banking. The comments appear to be a shot across the bows of the Chancellor as she seeks to unravel some of the reforms put in place during the financial crisis in a bid to boost growth. They suggest she may face an unwanted battle with Threadneedle Street to add to friction with Labour backbenchers over spending cuts and the battle to balance the books, amid dismal economic growth and deteriorating public finances. Reeves took aim at regulators during her Mansion House speech to the City earlier this month. But Bailey chose to dissociate himself from the 'boot on the neck' comments. He said: 'It's not a term I'd use. 'I think there are areas that we clearly should look at it – we've announced a whole range of things we're doing, and that's a good thing. But we can't compromise on basic financial stability and that would be my overall message.' Reeves has also promised 'meaningful reform' of the ring-fencing regime – something being demanded by the bosses of a number of major banks who say they are a drag on business. But Bailey said he favoured keeping the rules. He told MPs: 'I do think that the ring-fencing regime is an important part of the structure of the banking system.' Bailey said the rules make it easier to deal with banks that get into trouble in a way that spares consumers, businesses and households. He added: 'I'm sure there are things that can be improved and we will work constructively to get through that process.
Yahoo
22-07-2025
- Business
- Yahoo
Bank of England chief says ‘not sensible' to tear up ring-fencing rules
The governor of the Bank of England has warned against tearing up the UK's ring-fencing regime, which he said was good for British banks and consumers, after the Government announced plans to reform the system. Andrew Bailey also stressed that the UK cannot 'compromise' on financial stability amid the Treasury's plans to rip up red tape across the sector. Ring-fencing was brought in after the 2008 financial crisis and requires banks to separate their retail services from their investment banking activities. It aimed to protect UK consumers from the effects of any shocks felt by other parts of a bank and in the global financial markets. But Government plans to reforms the rules, unveiled last week, are intended to make Britain more competitive globally and give banks more flexibility. Mr Bailey told MPs on the Treasury Committee: 'I do think the ring-fencing regime is an important part of the structure of the banking system. 'It makes the resolution of banks if they're in trouble much easier, and it benefits, particularly in terms of the UK, consumers, business and households. 'I'm sure there are things that can be improved and we will work constructively to get through that process.' He added: 'I think it has established itself as part of the system and to me it would not be sensible to take it away at this point.' The ring-fencing shake-up formed part of Rachel Reeves's 'Leeds reforms' – a package of measures which she said are set to be the biggest changes to financial services for more than a decade. Ms Reeves said regulation 'still acts as a boot on the neck of businesses' in many areas, and urged regulators to avoid 'excessive caution'. Asked if he agreed with those comments, Bank of England chief Mr Bailey said: 'It's not a term I'd use.' 'I think there are areas that we clearly should look at it… we've announced a whole range of things we're doing, and that's a good thing,' he told the committee. 'But we can't compromise on basic financial stability and that would be my overall message.' However, Mr Bailey added that, post-Brexit, the UK is in a better position to reshape the financial rule book to suit the sector, rather than relying on EU rules. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
22-07-2025
- Business
- The Independent
Bank of England chief says ‘not sensible' to tear up ring-fencing rules
The governor of the Bank of England has warned against tearing up the UK's ring-fencing regime, which he said was good for British banks and consumers, after the Government announced plans to reform the system. Andrew Bailey also stressed that the UK cannot 'compromise' on financial stability amid the Treasury's plans to rip up red tape across the sector. Ring-fencing was brought in after the 2008 financial crisis and requires banks to separate their retail services from their investment banking activities. It aimed to protect UK consumers from the effects of any shocks felt by other parts of a bank and in the global financial markets. But Government plans to reforms the rules, unveiled last week, are intended to make Britain more competitive globally and give banks more flexibility. Mr Bailey told MPs on the Treasury Committee: 'I do think the ring-fencing regime is an important part of the structure of the banking system. 'It makes the resolution of banks if they're in trouble much easier, and it benefits, particularly in terms of the UK, consumers, business and households. 'I'm sure there are things that can be improved and we will work constructively to get through that process.' He added: 'I think it has established itself as part of the system and to me it would not be sensible to take it away at this point.' The ring-fencing shake-up formed part of Rachel Reeves's 'Leeds reforms' – a package of measures which she said are set to be the biggest changes to financial services for more than a decade. Ms Reeves said regulation 'still acts as a boot on the neck of businesses' in many areas, and urged regulators to avoid 'excessive caution'. Asked if he agreed with those comments, Bank of England chief Mr Bailey said: 'It's not a term I'd use.' 'I think there are areas that we clearly should look at it… we've announced a whole range of things we're doing, and that's a good thing,' he told the committee. 'But we can't compromise on basic financial stability and that would be my overall message.' However, Mr Bailey added that, post-Brexit, the UK is in a better position to reshape the financial rule book to suit the sector, rather than relying on EU rules.
