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The Treasury Department outlined its vision Friday for how and when federal agencies should use their powers to subject nonbanks to enhanced regulatory scrutiny, emphasizing activities over individual firms.

With a solution that addresses the unique security, transaction speed and integration requirements of the transit environment, EMV contactless open payments for transit can become a reality and change our public transportation experiences for the better, writes Randy Vanderhoof, director of the U.S. Payments Forum.

The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and low-income communities won’t be funded.

The startup Intrinio lets algorithmic traders and banks pick the types of company and market data they want to use rather than pay a large monthly fee for a broad, terminal-based service.

As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.

The company, which counts veteran banker Jay Sidhu among its investors, is selling to Ameris for $145 million in cash and stock.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.

The credit union has hosted its annual Business Summit for the last seven years, and the event continues to grow in popularity.

Mnuchin’s former business associate is likely to be sworn in next week; Mulvaney, as a congressman, called the CFPB a “joke” and co-sponsored a bill to kill it.