Opinions

Former Federal Reserve vice chair for supervision Randal Quarles delivered his strongest rebuke yet to the idea that the U.S. needs a central bank digital currency to avoid falling behind other countries, calling the argument one "you expect from a 17-year-old, but not from a central bank."

The number of suspicious activity reports involving cryptocurrency topped 90,000 in 2021, according to the Financial Crimes Enforcement Network. The reason for the uptick may be that crypto is becoming more mainstream.

The Fed waited too long to address inflation. Now we can expect higher borrowing costs as well as inflation.

Citigroup has been released from a 2012 enforcement action that faulted its anti-money-laundering efforts. But company executives are expected to spend a lot of time over the next few years seeking to resolve a pair of more recent consent orders.

Deutsche Bank's offices in Frankfurt are being searched by law enforcement authorities over reports about potential money laundering that were filed by the lender.

Acting Director Himamauli Das acknowledged concerns from Democratic lawmakers that Fincen was moving too slowly to implement beneficial ownership rules but said the agency "will likely continue to do so, because our budget situation has required us to make significant trade-offs among competing priorities.”

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

In “The Lords of Easy Money,” the journalist Christopher Leonard examines the Federal Reserve’s policy of quantitative easing following the 2008 financial crisis.

Sens. Elizabeth Warren and Bob Menendez say the banks that own the payments system "have chosen to let consumers suffer" from unchecked fraud problems.

From the threat of cyberattacks to discriminatory lending practices, banks need to pay close attention to a number of significant challenges.