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Morning Scan: Banks Team Up on Blockchain; Ex-Spies in Cybersecurity

09/16/15

Receiving Wide Coverage ...

United by the Blockchain: Nine of the world's largest banks are joining forces to bring blockchain technology into the financial services fold. Banks including JPMorgan Chase, Goldman Sachs and Credit Suisse will back a start-up called R3CEV with the goal of establishing protocols and standards for blockchain use. The consortium will also work to develop "a platform that could handle the billions of dollars worth of transactions that occur in the financial...

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Morning Scan: Preserving Wall Street Chats; Who's Afraid of the DOJ?

09/15/15

Not-So-Secret Chat: A new deal between New York's financial regulator and four big banks aims to preserve government access to the financial institutions' electronic communications. The deal comes ahead of the launch of Wall Street's long-awaited chat and messaging service Symphony, scheduled to roll out Tuesday. Deutsche Bank, Credit Suisse, Goldman Sachs and Bank of New York Mellon will all keep copies of their communications via Symphony for seven years and stash duplicates of decryptionÂ...

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Morning Scan: Banks Near Swaps Deal; When Marketplace Loans Sour

09/14/15

Swaps Settlement Ahead: Twelve big banks plan to pay $1.9 billion to settle charges that they conspired to control the credit default swaps market during the run-up to the financial crisis, according to the papers. The New York Times maintains an air of mystery about the details of the pending settlement, opting not to name the banks involved. But the Los Angeles Times names names including Bank of America, JPMorgan Chase and Citigroup and the FinancialÂ...

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