New York’s top bank regulator asked Nationstar Mortgage LLC for information about “explosive growth” in its mortgage-servicing business, citing hundreds of consumer complaints about the company’s practices.
New York’s top bank regulator asked Ocwen Financial Corp. for information about potential conflicts of interest between the firm and its vendors as it seeks to buy $39 billion of home loans from Wells Fargo & Co. Ocwen shares tumbled 7 percent.
With the shutdown of Tokyo-based Mt. Gox, once the world’s largest exchange for digital currency transactions, other companies in the Bitcoin universe worked to defend the nascent industry’s reputation.
Visa Inc. and MasterCard Inc., which processed $7.4 trillion in purchases last year, are among leading payments networks that devote thousands of words in filings to every perceived threat to their business. “Bitcoin” isn’t one of them.
New York will adapt existing rules to license digital-currency firms even as it considers law- enforcement calls for tough measures to prevent money laundering, the state’s top financial regulator said.
New York state will adapt existing rules on money transmission to license digital currency firms, financial services Superintendent Benjamin Lawsky said in remarks prepared for a conference in Washington today.
Benjamin Lawsky, New York’s top financial regulator, has asked more than a dozen banks including Goldman Sachs Group Inc. and Deutsche Bank AG for documents related to their currency trading practices, a person familiar with the matter said.