Regulation

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

The central bank of Estonia, where Swedish banks dominate the lending market, urged consumers to steer clear of Bitcoin and similar virtual currencies, warning such software could prove to be little more than a "Ponzi scheme."

Stefan Ingves, chairman of the Basel Committee on Banking Supervision, called Friday for global regulators to complete their work on already agreed upon international banking reforms.

For some, 2013 may be remembered as the toughest regulatory year on record. New regulation will likely slow this year, but scrutiny is expected to rise.

Groups representing the U.S. financial-services industry urged Congress to resolve the debt limit debate because a default on the nation's obligations "should not be an option for policy makers to consider."

Fitch Ratings, Citigroup Global Markets, and issuers of municipal securities are warning that a proposal designed to ensure that financial institutions are equipped to handle severe financial stress could seriously hurt the municipal bond market.

One could imagine a postal bank as a feeder service that brings unbanked consumers into the mainstream financial system and then graduates them to private institutions.

The Senate is set to vote on a mammoth agricultural bill next Tuesday after two years of intense debate.

The Senate passed legislation Thursday afternoon to postpone flood insurance premium increases that have already begun to go into effect around the country.

The Selma, Ala. city council approve a six-month moratorium on payday and title loan businesses that will prevent new stores from obtaining licenses, according to city attorney Jimmy Nunn.