UBS Financial Services of Puerto Rico has agreed to pay $34 million to settle charges by the Securities and Exchange Commission and Financial Industry Regulatory Authority that it failed to supervise a former broker who had customers invest in UBSPR affiliated mutual funds using money borrowed from an affiliated bank.

Sallie Krawcheck, the former Bank of America and Citigroup executive, is adding a female-oriented investing platform to her ventures meant to promote women in business.

The marketplace lender is paying $30 million in cash plus an undisclosed amount of stock. It plans to use BillGuard’s apps, which come with detailed information about their users’ financial habits, to attract new borrowers.

The Department of Housing and Urban Development is seeking public feedback on federal, state and local laws and regulations that may inhibit affordable housing or constrain the supply of housing.

Lenders contend the proposal goes beyond policing third-party debt collectors and could expose banks to enforcement actions and lawsuits.

A new National Credit Union Administration proposal would raise the threshold for residential mortgages that require appraisals. However, the final rule is by no means a done deal.

If history is any guide, periods of disruption in the industry are followed by regulatory resets, which in turn force banks to compete for the talent needed to meet new compliance demands.

Americans are going to invest in crypto no matter what politicians and regulators think. So, it would be better to keep crypto exchanges in the U.S., and under SEC supervision, than to drive them overseas.

Curt Farmer, CEO of the Dallas company, defends its management of a Treasury Department program that provides federal benefits on prepaid cards. He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries."