Lalita Clozel

WASHINGTON — The head of the American Bankers Association on Tuesday defended financial institutions' partnerships with fintech firms but argued that banks top nonbank startups in serving as "trusted custodians" for their customers' funds.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.

Its watchdog said the Federal Deposit Insurance Corp. failed to implement measures that could have prevented at least eight cybersecurity breaches from departing employees over the last year.

Republican lawmakers have asked the Treasury Department's inspector general to investigate whether the Office of the Comptroller of the Currency's policies are encouraging banks to cut ties with entire lines of business or banks in other countries.

While fintech companies are urging federal regulators to create a federal charter that would allow them to follow a single national standard instead of a myriad of state rules, such a benefit will almost certainly come with strings attached, including possible compliance with the Community Reinvestment Act.

WASHINGTON — Whether bitcoin is actual currency is at the forefront of a first-of-its-kind money-laundering case in Florida to be decided Friday.

WASHINGTON — The Federal Deposit Insurance Corp. has improved its information security processes, but more changes need to be made, the Government Accountability Office said in a report published Wednesday.

WASHINGTON -- The Federal Deposit Insurance Corp. is launching a survey this month to collect data on the small business lending practices of insured banks.

After the departure of Financial Crimes Enforcement Network's director last month, the future of the Treasury Department unit remains the subject of fierce speculation within the financial services industry.

After the departure of Financial Crimes Enforcement Network's director last month, the future of the Treasury Department unit remains the subject of fierce speculation within the financial services industry.

The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.

The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.

The Office of the Comptroller of the Currency is seeking to create a regulatory sandbox that it hopes will allow fintechs and banks to experiment on innovations to the financial system.

Twenty current and former Democratic members of Congress sided with the Financial Stability Oversight Council in a legal brief filed Thursday, arguing that its designation of MetLife as a systemically important financial institution should not have been struck down in federal court.

WASHINGTON — The Office of the Comptroller of the Currency has created a new position tasked with developing compliance protocols and enforcing bank supervision policies.

The Federal Reserve Board's top two leaders on Wednesday defended the authority for resolving large company failures against criticism that the policy is a continuation of "too big to fail."

Financial innovation, including distributed ledger technology and marketplace lending, has emerged as a new source of risk to the U.S. financial system, according to a report issued Tuesday by the Financial Stability Oversight Council.

Financial innovation, including distributed ledger technology and marketplace lending, has emerged as a new source of risk to the U.S. financial system, according to a report issued Tuesday by the Financial Stability Oversight Council.

Minneapolis Fed President Neel Kashkari fired back Monday at those who argue "too big to fail" has been adequately addressed by Dodd-Frank and other reforms, contending that the new structure is overly complex and goes against real-world market conditions.

WASHINGTON — The Financial Stability Oversight Council fired another salvo late Thursday in an ongoing legal battle over its decision to designate MetLife as a systemically important financial institution.