Regulation

A new project backed by the government of Luxembourg could ultimately be influential in the U.S., where banks have been slow to develop a shared platform for digital identities.

The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.

The agency's board voted 3-1 on Tuesday to give large banks additional time to comply with new rules that force them to keep better track of insured deposits.

Attempts to roll back a safeguard on derivatives would give megabanks a $40 billion windfall, putting taxpayers on the hook.

The U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says.

The Treasury secretary said the U.S. government has significant concerns about digital currencies, including their potential as tools for money launderers.

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”

Credit unions could have an answer about when a new credit loss standard will take effect, while the National Credit Union Administration will hold its monthly board meeting this week.

Lawmakers circulated a bill just ahead of hearings on Facebook’s Libra cryptocurrency that would prohibit companies with over $25 billion in annual revenue from launching a digital financial asset.

The argument that only the federal government is up to the task is misguided.