The Latest

Citigroup will require all U.S. employees be vaccinated against COVID-19 as a condition of their employment, citing new orders from President Biden.

The card network plans to use technology acquired from CipherTrace to offer compliance and risk management services to firms that handle digital assets.

Crypto firms that offer stablecoins, blockchain-based decentralized finance apps and services supporting peer-to-peer transactions may be required to keep tabs on their users’ identities and funds as a way of preventing money laundering and terrorism financing, the Financial Action Task Force said.

GreenState Credit Union has announced three bank deals this year. Its CEO says purchasing banks can be easier than merging with rival credit unions, though the state's banking regulator has made it difficult to do so within Iowa.

Toronto-Dominion Bank is thanking employees for their pandemic-era resilience with a new reward: a piece of the company.

The card network aims to attract more merchant customers with an account that pays a 1.1% interest rate.

Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

A proposal that would enlist financial institutions’ help in raising tax revenue to pay for President Biden’s social policy agenda lost steam after objections from a key senator. The administration was said to be narrowing the plan’s scope to preserve its chances.

The decision came prior to news of a federal investigation of PAX Technology and a raid of its Florida locations that has prompted inquiries from customers about the security of devices that they have relied on for making and receiving payments.

The nominee to lead the U.S.’s top swaps regulator has a warning for lawmakers: Crypto misconduct the agency has already exposed is “the tip of the iceberg” and it likely needs more authority to police the white-hot market.