The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
Financial institutions are often thought of as major consumers of technology, but a pair of recent examples show that more tech is being developed in-house and, once proven feasible, monetizing it. Expect more spin-offs, observers predict.
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PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.
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The institution is investing more in analytics as it faces pressure from rival banks and fintechs using automation to attract cost-conscious treasurers.
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Banks need to reckon with the explosive rise of legal online wagering and the addicts left in its wake.
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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KeyBanc Capital Markets doubled its personnel last month by hiring four professionals from Chapdelaine Credit Partners, a bond broker that closed in January.
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Morgan Stanley's James Gorman received a $14 million compensation package for his first year as chief executive, less than the $15 million he was awarded for 2009, as the company missed profit goals.
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Certified financial planners are uniquely qualified to help Americans keep their finances in good stead, the CFP Board of Standards said. The group has just rolled out a glossy $36 million advertising campaign to make them aware of that.
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The mortgage industry is stepping up its fight against a bill that would raise the Department of Veterans Affairs' mortgage fees to cover medical costs for Vietnam vets.
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The company plans to sell its third-party origination channel to Renasant. It has also lined up a deal to sell its correspondent channel.
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The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes.
Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.
Lawmakers and regulators are cracking down on banks closing consumer accounts, but neither banks nor regulators have hard numbers on how big of a problem debanking really is — or why accounts are closed.
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Small-business owners who can't get loans from traditional sources need alternative ways to access capital.
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How many more decisions will CFPB Director Rohit Chopra make without appropriate stakeholder input?
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A heads-down approach is no longer viable, but that doesn't mean executives need to address everything. Clear guidelines help leaders to decide when to speak up.
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Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
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Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
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Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
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Community banks and state banking groups are seeking structural reforms rather than a simple coverage increase.
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The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.
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SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.
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The company is becoming a full-fledged processor and accelerating its artificial intelligence plays, moves CEO Paulette Rowe said provide more control over agentic commerce, which payment experts say is threatening traditional payment facilitators.
As Coinbase joins a wave of crypto companies seeking national trust charters from the Office of the Comptroller of the Currency, traditional banks are warning regulators not to rush approvals for crypto firms eager to enter the federal banking system.
The 23rd annual ranking of women leaders in the banking industry.
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