Opinions

The Financial Crimes Enforcement Network, a division of the Treasury Department, has assessed a $1 million civil penalty against MoneyGram International's former chief compliance officer.

Benjamin Lawsky, New York's top regulator, sharply criticized banks on Thursday for their failure to speed up the payment system, threatening that the government may step in if they continue to lag behind.

WASHINGTON — The Financial Stability Oversight Council voted Thursday to designate Metlife as a systemically important financial institution, the insurance company revealed, making it the fourth nonbank to receive that designation.

The Financial Stability Oversight Council put a careful foot forward Thursday on the path of designating the asset management industry as a potential economic threat.

The Consumer Financial Protection Bureau joined two attorneys general in an enforcement action against Freedom Stores for how it collected debts from service members.

Federal regulators announced Thursday that they are delaying implementation of certain aspects of the Volcker Rule's prohibition on bank ownership of private equity and hedge funds, giving institutions an additional two years to comply.

Because of a regulatory quirk, Lending Club and its competitors depend on banks to issue their loans. The set-up raises questions about the regulatory outlook for the fast-growing marketplace lending sector.

WASHINGTON — The Federal Deposit Insurance Corp. is keeping up the drumbeat on the importance of managing interest rate risk.

New York financial regulator Benjamin Lawsky revised his proposal for policing virtual-currency companies to eliminate some rules that Silicon Valley claimed would crush the fledgling industry.

The repeal of the swaps push-out provision will reduce banks' operational costs, but it makes little difference in terms of increasing the size of the government safety net. The reason: with or without the rule, the government protects the swaps contracts of the largest institutions.