Weekly Global News Wrap Up: New York banks urged to do online lending; Credit Suisse to pay $110m to settle tax case

And Massachusetts bars Wells Fargo as underwriter.

According to CNBC, Maria Vullo, New York State Department of Financial Services (NYDFS) superintendent, urged brick-and-mortar banks to not be "left behind" and pursue opportunities in online lending. Read more here.

Credit Suisse has agreed in principle to pay about 100 million euros ($110 million) to settle its tax position in Italy in a case involving allegations it helped clients transfer undeclared funds offshore, a source with direct knowledge of the matter told Reuters. Read more here.

Reuters reports that Massachusetts is the latest state that will stop using Wells Fargo & Co as a bond underwriter for a year, joining a growing list of state and local governments to suspend business with the bank. Read more here.