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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 RightsNEW YORK, Nov 21 (Reuters) - Binance chief executive Changpeng Zhao will admit violating U.S. laws as part of a $4 billion settlement resolving a years-long probe into illicit finance breaches at the world's largest crypto exchange, said two sources familiar with the matter.He will also step down and plead guilty to violating criminal U.S. anti-money laundering requirements in a Seattle federal court on Tuesday, the...

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - As U.S. regulators ready rules that would push more trading in Treasuries to a central clearing venue, the industry's focus is turning on a key question: how much collateral should hedge funds and others put up to trade there.At issue is whether imposing minimum requirements for collateral, called margin or haircuts, would raise trading costs and curb market...

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...

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...