Lalita Clozel

A white paper released Thursday said the agency might issue new guidance on fintech product development, third-party risk management and new products targeting the underbanked; streamline its licensing procedures; and appoint experts on "responsible innovation." It is still deciding whether to open an office dedicated to monitoring the fintech sector.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

Model legislation in the works would give state legislatures a template for regulating virtual currency businesses. The Treasury is lobbying against clear exemptions for firms that don't control customer funds.

WASHINGTON — After being forced by a court to withdraw its enforcement action against Tanzanian bank FBME, the Treasury Department's Financial Crimes Enforcement Network has once again finalized a rule requiring U.S. institutions to cut off ties with the bank.

Experts see the British bank's decision to downsize its African stake as another example of money-laundering concerns and other risks prompting institutions to get out of emerging markets.

The House passed a bill late Monday to extend foreclosure relief for military service members through the end of next year.

The House passed a bill late Monday to extend foreclosure relief for military service members through the end of next year.

Federal financial regulators have instructed banks to extend procedures for collecting customer identification information to certain holders of prepaid cards.

Federal financial regulators have instructed credit unions and banks to extend procedures for collecting customer identification information to certain holders of prepaid cards.

Panel at the Women in Finance and Technology Symposium explores ways to enhance communication and collaboration between different branches of government working to strengthen the nation's cyberdefenses.

A cybersecurity panel at the Women in Finance and Technology Symposium Thursday explored ways to enhance communication and collaboration between different branches of government working to strengthen the nation's cyberdefenses.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency.

Members of a House Energy subcommittee had many basic questions for technologists, entrepreneurs and legal experts testifying at a hearing on digital currency Wednesday.

The FDIC allegedly rigged exam reports, selectively leaked information to a competitor and hampered a firm's acquisition plans in order to force banks from offering refund anticipation loans.

The Federal Deposit Insurance Corp. approved a final rule Tuesday that will reconfigure bank assessments once federal reserves reach a statutory threshold.

Comptroller of the Currency Thomas Curry's unexpected announcement this week that his agency may craft new guidelines to deal with de-risking is generating concerns from bankers instead of putting them at ease.

Startups, including one in the virtual currency field, have approached the Office of the Comptroller of the Currency about applying for banking charters, the agency's chief counsel said Thursday.

The Office of the Comptroller of the Currency is collecting data on the decision-making process of banks that detach themselves from certain business sectors or geographical regions to limit potential heightened scrutiny from regulators, a process often called "de-risking."

While regulators and law enforcement agencies are beginning to strike a more conciliatory tone with respect to digital currency, industry players complain the technology is still being stifled by its pariah status.