The Latest

The FTC will host a news conference in Washington, D.C., at 12:30 p.m. Wednesday to announce what the agency is calling a "major law enforcement initiative" involving the debt collection industry.

There is a time, a place and a customer base for pseudonymous cryptocurrency. For regulated financial institutions, other types of shared ledgers — those whose validators are legally accountable for certain terms of service — may provide unique utility.

Jersey Shore Federal Credit Union and Atlantic City Firemen's Federal Credit Union, both located in Northfield, agreed last month to merge. They expect the merger to be completed on Jan. 31, including all systems conversions.

Customer acquisition firm Avoka and identity verification company Trulioo have teamed up to create a real-time know-your-customer and anti-money-laundering identity verification service.

Banking regulators have been coy about whether they approve serving marijuana businesses, but lately one regional Fed bank has taken a strong position against the practice. But there are nearly three dozen Fed-supervised banks serving pot companies — one of many seeming inconsistencies in an opaque and confusing regulatory policy.

The Federal Financial Institutions Examination Council issued a joint statement Tuesday advising financial institutions to take steps to defend against cyber-ransom attacks.

Banking regulators have been coy about whether they approve serving marijuana businesses, but lately one regional Fed bank has taken a strong position against the practice. But there are nearly three dozen Fed-supervised banks serving pot companies — one of many seeming inconsistencies in an opaque and confusing regulatory policy.

MasterCard has named Craig Vosburg president of North America markets.

WASHINGTON — The House Financial Services Committee debated a bill Tuesday to remove a key Dodd-Frank Act size test that subjects any bank with over $50 billion in assets to heightened rules.

Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.