BankThink

Ripple Labs Inc., the blockchain startup whose digital money is often used as a proxy for other cryptocurrency payments, is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, Chief Executive Officer Brad Garlinghouse said.

The banking agencies have proposed weakening several liquidity, capital and stress test requirements without considering the cumulative effect of the many changes being undertaken.

Motor vehicle agencies are better suited to vet customers’ identities than banks; Goldman unit is stealing customers from big U.K. banks.

Rep. Kyrsten Sinema, D-Ariz., crafted a moderate message and will head to the Senate after having backed legislation providing banks with regulatory relief.

Top executives at Advance America acknowledged that anti-money-laundering concerns at banks were likely the cause of account terminations, even as they publicly blamed a stealth regulatory campaign.