Technology

Goldman Sachs Group offered its first ever lending facility backed by bitcoin, in a significant step for a major U.S. bank that accelerates Wall Street's embrace of cryptocurrencies.

Whether state-sponsored or masterminded by a 16-year-old, data breaches have become a major cause for concern across the banking world.

J.P. Morgan Chase Bank N.A. was sued by a unit of the French maker of Ray-Ban glasses, which claims the bank ignored red flags as international cybercriminals drained $272 million from its New York bank account.

Fraud has evolved to defeat existing federal Customer Identification Program requirements. It’s time for regulators to modernize them.

The U.K. seized 2 million pounds ($2.61 million) from a London-based fintech firm, saying that the funds were linked to a $150 million U.S. wire fraud conspiracy.

To appeal to a younger audience, credit unions are teaming up with third parties that can help them offer Bitcoin accounts, real-time payments and other cutting-edge services.

The annual event, while not specifically tied to the war in Ukraine, could prove to be opportune for financial institutions.

The Consumer Financial Protection Bureau is examining whether artificial intelligence discriminates against minorities and other applicants. But GreenState Credit Union in Iowa says the technology can be harnessed to make lending fairer in underserved communities.

Britain’s prior approach to regulating financial technology has been held up as the de facto bar, industry executives say — but on crypto, its more risk-averse outlook has stymied the sector’s growth. 

Observers say that while Michael Barr may not be progressives' first choice to be the Fed's top regulator, he has gained their support given the importance of the post and the pressure of looming midterm elections. What his exact policy prescriptions and priorities in the post-Dodd-Frank world will be, however, is unclear.