Regulation

"Cold storage" of cryptographic private keys, private theft insurance, and audited full reserves can prevent another Mt. Gox-like debacle, says Jeremy Allaire, the CEO of Bitcoin startup Circle Internet Financial.

If megabank CEOs aren't themselves informed of all the pieces of their companies that have evolved over nearly a half century of financial conglomeration, how can they possibly inform regulators?

PricewaterhouseCoopers LLP was fined $25 million after sanitizing a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd., New York’s top bank regulator said Monday.

Each bank has tended to tackle financial crime on its own — in effect, inventing its own wheel. The result: ballooning costs and redundancies. But compliance is not a competition.

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Federal regulators are aiming to finalize a rule in early September that would establish the first-ever liquidity requirement for banks, but some in the industry have launched a last-ditch effort to delay it.

WASHINGTON — Regulators provided more instruction Friday to smaller firms required under the Dodd-Frank Act to simulate their own failures.

New York Attorney General Eric Schneiderman has settled with debt collector Forster & Garbus regarding the firm's collection of payday loans.

In ordering large banks to revise their living wills, federal regulators proved that they are taking very seriously their mandate to never again use taxpayer dollars to rescue large banks, writes Mayra Rodríguez Valladares.

Doral Financial, the Puerto Rico bank that hasn't posted an annual profit for almost a decade, fell as much as 4.7% after disclosing it received a subpoena from the Securities and Exchange Commission.