European Union

Bitcoin ATMs show gap in EU's money laundering rules, police say


A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law enforcement authorities in the country said.


Don’t drop the ball on trans-Atlantic cooperation


The U.S. and Europe should continue to harmonize their banking rules, including for foreign banking operations, just as they did in the wake of the financial crisis.


Visa, Mastercard finalize EU card probe with fee cut pledge


Visa Inc. and Mastercard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.


Apple Card raises pressure on banks — and fintechs


The new Apple Card wasn't just one product of many announced at the Steve Jobs Theater on Monday — it was the glue that binds all of Apple's new services together.


U.S. scolds Europe for targeting territories on dirty-money list


The European Union drew a rebuke from the U.S. for including Puerto Rico, the U.S. Virgin Islands and other overseas territories on a blacklist of 23 jurisdictions posing higher risks of money laundering and terrorist financing.


Deutsche Bank watchdogs said to favor Europe deal for lender


Deutsche Bank's key regulators would prefer the lender merge with a European rival rather than local competitor Commerzbank, setting them apart from forces in the government keen on an all-German deal.


EU’s new data privacy law creates headaches for U.S. banks


It's not just big banks. Even U.S. community banks may be subject to the General Data Protection Regulation given the boundlessness of digital commerce.


Last-minute regs may compound balance-sheet woes of Europe's banks


The latest draft of EU securitization rules would ban securitization of loans where borrowers certified their own income, raising concerns about banks’ ability to unload roughly $1 trillion of nonperformers.


Banks may face extra $50B capital needs after Brexit


Banks may need to find $30 billion to $50 billion of additional capital to support new European units in the aftermath of a hard Brexit, and some smaller firms may abandon their operations on the continent altogether as profitability plunges, according to Oliver Wyman Inc.


Bank of America chooses Dublin as post-Brexit EU hub


Bank of America has picked Dublin to locate its main European Union hub in preparation for Britain quitting the bloc in 2019.