Policy & Regulation

The New York State Department of Financial Services issued subpoenas to 22 emerging payments players, including many that handle the digital currency Bitcoin, demonstrating that new payments models have not yet found their place in the eyes of the law.

Faced with a litany of legal and regulatory woes, JPMorgan Chase has vowed to minimize wrongdoing and tighten internal controls. But with financial incentives unchanged and regulators on the warpath, virtuous talk may not be enough to prevent more troubles.

The Office of the Comptroller of Currency has terminated a written agreement with Coastal Banking in Beaufort, S.C.

A top New York State regulatory agency sent cease-and-desist letters last week to 112 banks and 35 lenders that offer or facilitate short-term, high-interest payday loans to consumers online.

New York’s banking regulator issued subpoenoas to about two dozen companies associated with bitcoin as it looks into the virtual-currency industry, the Wall Street Journal reported, citing people familiar with the matter.

International regulators concede capital rules are too complex.

Bank of Wausau was shut down by Wisconsin regulators Friday.

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

EMV chips improve security over magnetic-stripe cards, but they have not been easy to implement. Years ago, a Forrester analyst said "the U.S. is going to adopt EMV in about the same way the U.S. adopted the metric system — somewhere between kicking and screaming and not at all." What have been the biggest hurdles?

A search committee has been assigned to find a successor for Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, who plans to retire next year.