An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.
Prosper Marketplace, one of the leading U.S. consumer marketplace lenders, announced $165 million in equity funding from large banks and other investors Wednesday.
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The U.K. government confirmed plans to regulate cryptoasset activities more strictly, bringing them under the same regime as traditional financial services.
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The credit card company has been seeing late payments and charge-offs jump following the stellar credit trends of the pandemic. But there were signs last quarter that the picture has started to stabilize.
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The Federal Reserve's vice chair for supervision said FedNow and digital currencies are important areas for research, but not at the expense of legacy systems like cash and debit.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Retail investors in municipal bonds are shaken, but still standing, after a relentless barrage of forecasts of massive municipal bankruptcies and defaults this year.
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Easing market conditions helped LPL Financial realize a surge in net new advisers in the fourth quarter, and the company is confident it can continue.
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UBS, the Swiss bank that needed a government rescue in 2008, expects to attract more funds from wealthy clients this year after recording a second straight quarterly increase.
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The sustained rise in home values will boost Fannie Mae and Freddie Mac's loan limits for 2019, marking the second consecutive year in which it increased by nearly 7%.
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The proposal by Fannie and Freddie’s regulator to impose bank-like capital requirements would be relevant only if the companies leave conservatorship. But that hasn’t stopped lenders from requesting changes.
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Minorities are still charged more for mortgages when all other applicable credit factors are equal — both in person and online, according to a new study by the University of California, Berkeley.
A lawsuit filed by the American Fintech Council and two other trade groups has implications for other states that also want to keep out high-cost consumer lenders.
The president has signed dozens of executive orders touching a wide range of government functions, but banking policy has largely gone untouched — so far.
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A new proposal to allow the Small Business Administration to offer credit directly would pull customers away from community lenders, writes the head of a credit union trade group.
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New York and other states have been far ahead of federal policymakers when it comes to crafting a supervisory structure for cryptocurrencies. The recent White House report on stablecoins ignored their work, and that was a mistake.
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The relaxation of Community Reinvestment Act and fair-lending enforcement by the OCC after President Trump took office deprived minority and low-income applicants in Memphis who sought credit from the bank for far too long.
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The CardWorks subsidiary has officially taken over Ally Financial's Ollo credit card portfolio, ending a five-year dance between the two companies that first had Ally buying CardWorks for $2.7 billion.
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The Consumer Bankers Association elected Atlantic Union Bank's Maria Tedesco as its 2025 board chair; Banco Santander's Steffen Doyle is leaving the firm; Commerzbank's lawyers allege an ex-analyst made up sexual harassment claims against a colleague after he lost his job; and more in this week's banking news roundup.
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The ongoing government shutdown prevented the Bureau of Labor Statistics from releasing its September jobs report Friday, but job growth appears to be softening. The lack of reliable government data comes as the Federal Reserve mulls further interest rate cuts.
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College sophomores are applying for jobs before they've even taken a finance class. Goldman Sachs CEO David Solomon says he dislikes the process, but doesn't have the power to change it.
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Portugal's Feedzai will build the fraud detection system for Europe's planned digital currency, a deal worth up to $278 million.
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The digital bank is expanding its investment offerings with a lower-risk, fee-free level of options trading.
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The Consumer Financial Protection Bureau's union is appealing an appellate panel's ruling that allows acting CFPB Director Russell Vought to fire 90% of the bureau's staff.
A memo sent to 175,000 employees gives them 60 days to complete the training.
The 23rd annual ranking of women leaders in the banking industry.
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