The measure will prevent banks chartered elsewhere from charging interest rates above Colorado's 36% rate cap. If additional states take the same approach, it could hamper the business model for high-cost consumer lenders that partner with banks.

The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

State officials from California to New Jersey along with the SEC are focusing on Coinbase's staking program, which offers customers a return for letting their tokens be used to facilitate blockchain transactions. 

This week in global news: JPMorgan Chase works on blockchain in India, U.K. reps want faster crypto regs and more. 

The Securities and Exchange Commission sued the two largest cryptocurrency exchanges this week over allegations of operating as unregistered securities exchanges, rattling the industry but potentially lighting the way to more regulatory certainty.

Chatbots may provide inaccurate information, may run afoul of consumer financial protection laws and may force consumers into "repetitive loops of unhelpful jargon," the Consumer Financial Protection Bureau warned.

Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.

The regulator alleges that Coinbase for years evaded its rules by letting users trade numerous crypto tokens that were actually unregistered securities.

Wells Fargo is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.

It would be a mistake for regulators in the U.S. and Canada to delay the rollout of rules supporting open banking. Fears of bank runs as a result of customer access to their own financial data are overblown.

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

Hafize Gaye Erkan, who resigned in early 2022 as co-CEO of the since-failed First Republic Bank in the U.S., is said to have met with Turkey's newly appointed finance minister after emerging as a potential candidate for the job of running the country's central bank.

The regulator alleges the crypto firm flouted investor protection rules by operating unregistered exchanges, misrepresenting trading controls and selling unregistered securities, among other violations. 

For banks already dealing with higher funding costs, renewed competition from government-backed securities could bring more pain.

Americans are going to invest in crypto no matter what politicians and regulators think. So, it would be better to keep crypto exchanges in the U.S., and under SEC supervision, than to drive them overseas.

Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

The banking crisis set in motion by the failure of three banks has the industry focusing once more on how to avoid the same scenario.

After an appeals court sided with the Consumer Financial Protection Bureau in February, the CFPB and PayPal filed a round of legal arguments in late May to resolve remaining claims from a lawsuit PayPal first filed in 2019.

The Stroudsburg, Pennsylvania-based financial institution, from 2017 to 2021, did not sufficiently serve the credit needs of majority-Black and Hispanic neighborhoods in and around Philadelphia, the DOJ alleges.

Sen. J.D. Vance, R-Ohio, and other Republicans have signed on to a bill that would bolster the Federal Deposit Insurance Corp.'s ability to claw back the compensation of the executives of failed banks.