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Nov 13 (Reuters) - Banks on the payment app Zelle have begun refunding victims of imposter scams to address consumer protection concerns raised by U.S. lawmakers and the federal consumer watchdog, in a major policy change.The 2,100 financial firms on Zelle, a peer-to-peer network owned by seven banks including JPMorgan Chase (JPM.N) and Bank of America (BAC.N), began reversing transfers as of June 30 for customers duped into sending money to scammers claiming to be from a government agency, bank or existing service provider, said Early Warning Services (EWS), the...

People walk past a booth of ICBC Credit Suisse Asset Management Co at the 2020 China International Fair for Trade in Services (CIFTIS), in Beijing, China September 5, 2020. REUTERS/Tingshu Wang/File photo Acquire Licensing RightsNEW YORK/LONDON, Nov 10 (Reuters) - Industrial and Commercial Bank of China injected capital into its U.S. unit to pay BNY Mellon (BK.N) $9 billion for unsettled trades and hired a cybersecurity firm to help it return online after a ransomware attack, sources familiar with the matter said.ICBC said on Thursday it had been hit by...

Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File Photo Acquire Licensing RightsWASHINGTON, Nov 3 (Reuters) - Onetime crypto poster child Sam Bankman-Fried was on Thursday found guilty of defrauding customers of his now-bankrupt crypto exchange FTX, in a high-profile criminal case that rocked the industry.But he's not the only one in regulators' sights. As token prices plummeted last year, the sector saw other stunning meltdowns that put several industry moguls into authorities' crosshairs.Investigations are not necessarily an...

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsWASHINGTON, Nov 3 (Reuters) - U.S. regulators on Friday cleared the way to increase oversight of asset managers, hedge funds, and other non-banks that they believe pose risks to the financial system, reviving a tough new regime that had been sidelined under former President Donald Trump.The Financial Stability Oversight Council (FSOC), led by the Treasury Department and comprising other major agencies, also adopted a new framework...

Nov 1 (Reuters) - The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank (FRCB.PK), raising the prospect of stiff penalties for the failed bank's former bosses."We can confirm a D&O probe into First Republic is taking place," a spokesperson told Reuters on Wednesday, referring to the bank's directors and officers. The regulator did not provide further details.The investigation, which has not previously been reported, is the third the FDIC has opened into bank failures earlier this year which cost the...