Lalita Clozel

The Office of the Comptroller of the Currency will start granting limited-purpose bank charters to fintech companies, but intends to maintain high standards for new entrants.

As the outgoing administration stresses the need for stricter regulatory requirements on new fintech companies, technology companies are urging President-elect Donald Trump to lower the barriers to entry for new financial industry players.

As the outgoing administration stresses the need for stricter regulatory requirements on new fintech companies, technology companies are urging President-elect Donald Trump to lower the barriers to entry for new financial industry players.

Despite a robust anti-money-laundering regime imposed on credit unions, banks and money services businesses in the U.S., a number of loopholes are allowing other companies to skate by without performing basic due diligence to curb the flow of illicit funds, according to a report by the Financial Action Task Force.

Despite a robust anti-money-laundering regime imposed on banks and money services businesses in the U.S., a number of loopholes are allowing other companies to skate by without performing basic due diligence to curb the flow of illicit funds, according to a report by the Financial Action Task Force.

A federal court in California has accepted a controversial request from the IRS to obtain the records of possibly millions of users of the bitcoin exchange Coinbase.

WASHINGTON -- A federal court in California has accepted a controversial request from the IRS to obtain the records of possibly millions of users of the bitcoin exchange Coinbase.

The Federal Deposit Insurance Corp.'s third-quarter earnings report was stacked with good news: record earnings and lending, fewer troubled loans and higher interest and noninterest income. Yet there was one statistic that is likely to fuel more calls for help from Washington.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said he would not offer his resignation to President-elect Donald Trump.

A request by the IRS for user data from a bitcoin exchange highlights simmering tensions between compliance and customer privacy for financial institutions and will test how those demands are balanced in the young field of cryptocurrency.

The FDIC's Quarterly Banking Profile showed positive signs across the board, including increases in net interest and noninterest income, better loan growth and a drop in noncurrent loans. Overall, 60.8% of banks were profitable — allowing the industry to reach its lowest proportion of unprofitable banks since the third quarter of 1997.

While the IRS has targeted banks with broad "John Doe" summonses, it does not typically ask financial institutions to turn over information on all of their account holders, as the agency wants Coinbase, a bitcoin exchange, to do.

After months of public deliberation, Comptroller of the Currency Thomas Curry is set to disclose this week his decision on whether or not to create a special charter for fintech companies.

The U.S. is expected to receive bad marks over its supervision of certain high-risk nonfinancial institutions, like lawyers, casinos and real estate agents, for potential anti-money-laundering problems in an upcoming evaluation by the Financial Action Task Force.

WASHINGTON — The Treasury Department's Financial Crimes Enforcement Network mismanaged its system for tracking enforcement cases, allowing some cases to expire before the agency had the chance to impose civil money penalties, according to a government watchdog.

WASHINGTON — The Treasury Department's Financial Crimes Enforcement Network mismanaged its system for tracking enforcement cases, allowing some cases to expire before the agency had the chance to impose civil money penalties, according to a government watchdog.

The Office of the Comptroller of the Currency has rolled back some of the relief from regulatory restrictions on corporate activities afforded Wells Fargo under federal law before its recent troubles.

Smaller banks risk falling behind if they do not make space for financial innovation, Comptroller of the Currency Thomas Curry warned Friday.

Banks are butting heads with consumer groups and fintech firms over the need for new rules governing the use of financial data.

Banks are butting heads with consumer groups and fintech firms over the need for new regulations governing the use of financial data.