Lalita Clozel

Federal financial regulators are incorporating lessons learned from the Swift hacks in their examinations, they told a lawmaker in a joint letter last week.

The Federal Deposit Insurance Corp. is receiving a rising number of new inquiries from organizations seeking to obtain a bank charter, the agency said in a report Monday.

The Georgia Department of Banking and Finance closed the $21.4 million-asset Woodbury Banking Company on Friday, marking this year's fourth bank failure.

With the Office of the Comptroller of the Currency evaluating the possibility of a nationwide charter for certain fintech firms, state regulators are voicing concerns that a charter could cut into their authority.

California state lawmakers have dropped plans for legislation this year to create a new license for bitcoin companies.

California state lawmakers have dropped plans for legislation this year to create a new license for bitcoin companies.

WASHINGTON — The Federal Deposit Insurance Corp. does not require all its administrative users to log into its systems using multifactor authentication, according to an audit released Friday by the agency's Office of Inspector General.

A new exam handbook released by the Office of the Comptroller of the Currency is sparking concerns that the agency is quietly expanding heightened regulatory guidelines meant for larger banks to smaller institutions.

WASHINGTON — The biggest banks are supporting a bill that would ensure that all U.S. companies submit beneficial ownership information to authorities, arguing it would help combat money laundering and terrorist financing.

WASHINGTON — In the midst of a monthslong congressional inquiry into its cybersecurity practices, the Federal Deposit Insurance Corp. has issued a public statement outlining a slate of new data-protection measures.

Financial regulators issued a long-awaited proposal Friday that would allow institutions with less than $1 billion in assets to file a short-form call report.

WASHINGTON — The Federal Deposit Insurance Corp. will give banks and other parties 45 additional days to comment on a new proposed guidance addressing relationships with third-party lenders.

The situation turns on whether the CFTC inadvertently pushed Bitfinex to adopt a weaker security system than it had been using. However, the way the bitcoin exchange used the new system was significantly flawed, security experts said.

WASHINGTON — Regulators announced Tuesday that they are giving large banks with less than $100 billion in assets an additional year to file their living wills.

In a board action late last week, the agency proposed a number of changes, including softening the exam appeals process, in response to recommendations by the FDIC Office of Inspector General. It also asked banks to pay particular attention to their relationships with third-party lenders.

As chief operating officers see their roles altered through industry consolidation, they are also taking the lead of implementing banks' technological and strategic overhauls.

Bitcoin is property, not money, a Florida judge ruled Monday in a criminal case against a man accused of money laundering and unlicensed money transmission.

The decision throws out the anti-money laundering charges against Michell Espinoza, who was arrested after agreeing to sell $30,000 to an undercover detective who declared he would use it in an illegal credit card scheme.

The decision throws out the anti-money laundering charges against Michell Espinoza, who was arrested after agreeing to sell $30,000 to an undercover detective who declared he would use it in an illegal credit card scheme.

Banks typically respond to pending regulations with a mixture of fear and dread, but new cybersecurity requirements being developed by the banking agencies may be met with relief.