Policy & Regulation

The U.S. crackdown on Liberty Reserve is stoking fears that the government may effectively cut off digital currencies like Bitcoin as banks sever ties with businesses in this growing field.

Community banks and credit unions now have two years to continue originating balloon loans to all customers, a major change from a prior proposal that would have banned such loans except in rural or underserved markets.

Visa issuers have put 3.5 million chip-based smart cards in the hands of U.S. consumers since the card brand announced its EMV-card migration roadmap in August of 2011, a Visa executive says.

Treasury Secretary Jacob Lew, who was confirmed in February, repeated his commitment to completing the remaining rules of the Dodd-Frank Act.

While banks hit a landmark with their $40.3 billion in earnings, it appeared partly due to idiosyncratic transactions at big banks and was not a sign of a resurgent industry.

Lack of financial education blamed for low savings rates among young workers.

The crackdown on Liberty Reserve underscores the importance of regulatory expertise to digital currency startups. No wonder Liberty City Ventures (no relation to the indicted company) retained former Treasury officials as advisors.

The Troubled Asset Relief Program will cost taxpayers less than expected.

Wal-Mart Stores Inc. and Amazon.com Inc. joined more than 30 of the biggest U.S. retailers in objecting to a $7.25 billion antitrust settlement with Visa Inc. and MasterCard Inc. over merchant fees, saying the deal is meaningless when card companies can continue to fix the charges.

The California Senate passed SB233 on Friday, a measure that would require debt buyers to have a lengthy list of account information on hand before collection efforts can start.