Federal regulators are early in the process of deciding whether to broaden credit unions' access to capital markets, but banking lobbyists have seen enough to argue that it would let credit unions skirt business-lending limits.
The city joins a growing list of municipalities that have filed similar lawsuits, just two weeks after the Supreme Court ruled that municipalities have standing to sue lenders under the Fair Housing Act.
The laws that force banks to know their customers are good at catching petty criminals and “wannabe” terrorists, but can’t thwart sophisticated bad actors, argues whistleblower Edward Snowden.
Restricting banking organizations’ lines of business would hurt their ability to compete in a constantly evolving financial system and to serve as sources of strength.
The value of digital currencies soared past $50 billion, raising concerns of a bubble; B of A plans to introduce AI-powered digital assistant this year.
Cambridge Blockchain, one of many startups applying blockchain technology to customer-privacy and data-collection issues, is teaming up with LuxTrust to launch a new identity platform.
