Technology

The goal of adopting chip cards — to provide tighter security — is a noble one. But by going partway, authorizing transactions with signatures rather than four-digit codes, banks are watering down that security, at least for lost and stolen cards.

Treasury building

With regulatory bills making their way through both houses of Congress, stablecoins could soon play a larger role in the financial system — with important implications for the Treasury market.

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Wells Fargo

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman.

Citigroup

The megabank's multiyear effort to simplify its business model and improve its risk management is starting to pay off in the form of more consistent profitability and improved returns, CEO Jane Fraser told analysts.