Regulation

Wells Fargo & Co. said the Securities and Exchange Commission is among regulators investigating the bank's sales practices following a scandal involving employees opening unauthorized customer accounts.

The former chairman of the failed Premier Bank in Wilmette, Ill., was sentenced to five years in prison after he pleaded guilty to defrauding the Treasury Department's Troubled Asset Relief Program.

The Consumer Financial Protection Bureau and the New York Attorney General filed a lawsuit Wednesday against two New York debt collectors for deceiving and harassing millions of consumers to pay inflated debts.

If modified, the cybersecurity standards in New York State are a step in the right direction to protect banks and consumers.

A lot of analytical horsepower is being spent on what will happen to the markets after the election, but it seems to make more sense to talk about what will not change for consumers, investors and financial institutions.

If Sen. Sherrod Brown becomes chairman of the Senate Banking Committee, he is likely to focus on toughening rules on the biggest banks, conducting oversight of scandals like the one at Wells Fargo and granting regulatory relief to smaller institutions.

Some former customers of First Niagara Bank in Buffalo, N.Y., which was bought by KeyCorp last month, will receive up to $22 million in refunds of overdraft and bounced-check fees, according to a recently disclosed regulatory order.

WASHINGTON — Morris Morgan, a longtime veteran of the Office of the Comptroller of the Currency, will become its next senior deputy comptroller for large-bank supervision, the agency said Tuesday.

The new standard protects competition for businesses and issuers of all sizes, and should not be repealed.

The new cryptocurrency allows users to selectively disclose information about their transactions to authorized parties without exposing it to the world. That feature could make blockchains more appealing to financial institutions, but maybe less so for regulators.