BankThink

For all the excitement about the blockchain's potential to shake up the financial industry, few people understand how it works. The really revolutionary part of the blockchain process is how miners manage to keep records of transactions accurate and tamper-proof.

The proposed legislation for regulatory relief seeks to roll back critical mortgage protections put in place to prevent another housing crisis.

Critics of the regulatory relief bill proposed by Sen. Richard Shelby argue that will endanger the financial system and benefit big banks. But in fact, the changes offer sensible, nonpartisan fixes to some of the biggest problems with the Dodd-Frank Act.

Receiving Wide Coverage ... UBS Pays Up: Immunity didn't quite work out for UBS. The Swiss lender has agreed to pay $545 million to settle investigations into the alleged manipulation of foreign-exchange and Libor rates. UBS had reached a nonprosecution agreement with the U.S. back in 2012 over its alleged role in the Libor scandal, but prosecutors scrapped the deal when the bank later became implicated in forex rigging. Now it will plead guilty to oneÂ...

It's a good idea to raise the asset threshold at which financial institutions are automatically designated as systemically important financial institutions. But Sen. Richard Shelby's proposed legislation for regulatory relief does require one crucial change.