Venmo and other web-based social-finance apps are growing in popularity, but they generally have substantial limitations because of the internet's functionality. Blockchain technology removes these limitations, and will be at the forefront of transforming the way in which value is transferred between individuals throughout the world.
A California federal judge on Wednesday found that Wells Fargo & Co. had violated a provision of a class action settlement it struck in 2010, ruling that the bank hadn’t properly gauged homeowners’ risk of default when deciding whether to grant mortgage relief.
Accusing Wells Fargo & Co. of reneging on a sweeping mortgage-modification deal, a lawyer for troubled homeowners is trying to reopen a lawsuit involving risky
Wells Fargo continues to get kicked in the shins for the sins of Wachovia. Two years after agreeing to massive settlements with borrowers over that former bank’s Pick-A-Pay loans and hundreds…
JPMorgan Chase & Co. and other banking defendants, including now-defunct Bear Stearns Cos., received final approval from a California federal judge Monday for an $18 million settlement of a class action alleging Bear Stearns used misleading loan documents to dupe homeowners into purchasing adjustable-rate mortgages.
Iowa’s approach to creating an environment for attracting high density load companies to the state stands in stark contrast with Washington’s decision to raise electricity rates for them. Regulators should be mindful of balancing their short-term financial goals with the need to attract and maintain innovative businesses.
Bitfinex was recently hacked resulting in the theft of approximately 119,756 bitcoins. In June 2016, the CFTC issued an order against Bitfinex to protect consumers and comply with law and regulations, but achieved an opposite result.
Media and governments are acting irresponsibly in tying virtual currency to recent wave of violent attacks.
The AML Proposal, which would add virtual currency exchanges and custodial wallet providers to the existing AML framework, to “ensure increased transparency of financial transactions and of corporate entities,” requires exchanges and wallet providers to collect and monitor personal customer information as well as report suspicious transactions.