Claire Williams

A new Treasury Department request for comment invites the public to weigh in on how cryptocurrencies are used in illegal activities. It's part of the Biden administration's larger push to create a regulatory framework for digital assets.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

President Biden called on the SEC, CFPB and other agencies to vigorously use their enforcement powers to combat consumer scams and financial crimes involving cryptocurrencies; issue rules that address emerging risks tied to digital assets; share data on consumer complaints; and promote a modernized payment system.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

As Treasury cracks down on DeFi, observers say merging the worlds of traditional and decentralized finance is an increasingly impossible dream.

The appointment creates a "full-fledged office" within the Office of the Comptroller of the Currency devoted to national banks' climate-change exposures, acting Comptroller Michael Hsu says.

The report from an office in the White House is the first public report issued pursuant to an executive order President Biden issued in March.

Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said that the agency will continue to consider its rising assessment rates even as deposits fell in the second quarter

The operational melding of highly regulated banks and less-regulated fintechs led acting Comptroller of the Currency Michael Hsu to warn of the potential for another financial crisis.

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

The Bank Policy Institute and the American Bankers Association asked acting Comptroller of the Currency Michael Hsu to deny Sen. Elizabeth Warren's request to rescind Trump-era cryptocurrency guidance. 

Four consumer organizations joined the Independent Community Bankers of America in opposition to the automaker's push for an industrial bank. They cited consumer privacy concerns and the risk of mixing commerce with banking.

Rep. Tom Emmer, R-Minn., said the issues raised by the sanctions affect the "right to privacy of every American citizen."

Banking trade groups are saying the Federal Deposit Insurance Corp.'s plan to increase the deposit insurance fund is poorly timed and based on flawed assumptions.

The Federal Deposit Insurance Corp. issued the letters ordering the companies to stop making false or misleading representations of deposit insurance.

Carlos Garcia of Professional Holding Corp. in Coral Gables would serve as CEO of the holding company for Nave Bank, which seeks FDIC approval to be the first federally insured digital bank in Puerto Rico.

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

The move is the latest development in the ongoing political clash over how involved banks should be in crypto markets. 

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."