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JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business.

While proponents contend the model could help reach the underbanked, there remain many arguments against it.

Wymar Federal Credit Union in Louisiana has also distributed a bonus to members.

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

The Credit Union National Association and several institutions sued the fast food business after a data breach in 2016.

Regulators should clarify rules around deposit-advance products so that banks can serve consumers seeking short-term loans, like those affected by the recent partial closing of the government.

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena McWilliams, will follow it.

JPMorgan Chase successfully tested a cryptocurrency it plans to use in trials for clients of its wholesale-payments business. Dubbed JPM Coin, it's based on blockchain technology, the bank said Thursday in a presentation on its website.

The time regulators take to decide on prospective deals has dropped sharply; a report says the cyberthieves were looking for info to help recruit spies.