The Financial Crimes Enforcement Network voluntarily works with tribal law enforcement on anti-money-laundering and counterterrorism initiatives, but is not currently required to do so by statute.
Readers consider Square's bid to become an industrial loan company, weigh the Federal Deposit Insurance Corp.'s oversight of brokered deposits and debate reforms to the Consumer Financial Protection Bureau.
Entrepreneurs in the digital-assets industry say that even as some attract investment from multibillion-dollar institutions, they are routinely refused basic banking services by the likes of HSBC and JPMorgan Chase.
Flaws in testing may be real source of Wells Fargo's tech failure; BB&T-SunTrust deal throws talent and deposits up for grabs, threatens banking's middle tier; what JPMorgan Chase's JPM Coin means for Ripple and Swift; and more from this week's most-read stories.
The JPM Coin will be used to expedite payments transfers for its corporate clients; customers of Spain’s largest retail bank will be able to withdraw cash without entering a PIN.
JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest.
Barclays, Bank of America, TD Bank and other banks have filed multiple blockchain patents over the years, but have yet to publicly announce their plans for the technology.
JPM Coin is not meant for consumer payments, but rather is a specific technology for a specific use case that the bank controls. Its value comes not from JPM Coin's appeal, but from JPMorgan's titanic wholesale payments business.
