Regulation

The Financial Services Committee also announced the head of a newly created subcommittee on diversity and inclusion.

The question of what banks are doing to aid government workers shows how the industry is still struggling to rebuild its image following the crisis.

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk.

The bank says regulators want information about its possible role in the money laundering scandal; Kristi Mitchem moves to BMO Global Asset Management.

EU states such as Belgium, Lithuania and Ireland are offering e-money institution, payments institution or banking licenses to fintechs, which can be passported across Europe, in anticipation of the U.K. losing its ability to do so after Brexit. But there is no cross-border deposit protection for European consumers holding accounts at EU banks with passported licenses.

Several new members of the House Financial Services Committee with backgrounds in housing could use their experience to address Chairman Maxine Waters' top agenda items.

When a Columbia University professor surveyed 1,000 payday loan customers, little did he know that the resulting research report would become a lightning rod in the drafting of rules for small-dollar lenders.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.