A failure at an Amazon Web Services data center in Virginia caused widespread outages, hitting services at several banks and fintechs.
The heavy costs of fixing broken trades and the need to become more efficient as trade settlement times shorten are driving Goldman Sachs, JPMorgan Chase and Morgan Stanley to invest in a reference-data utility.
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New York Gov. Kathy Hochul signs a law banning medical debt on credit reports; PayPal's former CEO Dan Schulman will exit the board; community banks boost small-business loan approvals; and more in the weekly banking news roundup.
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Competition is heating up south of the U.S. border, prompting fintechs like Airwallex to come to market with a more diverse set of offerings — and to pursue acquisitions that help it move faster.
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Atlanta-based Global Payments has been working with an adviser to study the feasibility of a deal for Shift4 Payments, according to the people.
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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Certain Republican House lawmakers are questioning the need for a uniform fiduciary standard, adding more fuel to a legislative debate set to take place soon.
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Several years ago, Grant Rawdin passed on the chance to become a charter shareholder in National Advisors Trust, a trust company owned by a registered investment adviser and designed to serve advisers nationwide.
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Three years after the collapse of Bear Stearns Cos., which helped fuel the worst financial crisis since the Great Depression, former bond executives of the firm are running businesses at onetime rivals, including Bank of America Corp. and Goldman Sachs Group Inc.
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The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.
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A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision.
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The administration’s choice to regulate the government-sponsored enterprises appeared to distance himself from speculation that the White House may try to overhaul housing finance without legislation.
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
Speaking to reporters from the Oval Office, the president was asked if he wanted to eliminate the bureau. "I would say, yeah," Trump replied. "Because we're trying to get rid of waste, fraud and abuse."
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In order to align financial policy with the interests of consumers, the agency should consider why these services have caught on — and remember to keep a lane open for innovation.
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In “The Journey of Humanity,” the economics professor Oded Galor explores the complex question of why some countries have flourished while others continue to struggle.
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The pending budget reconciliation legislation should retain measures meant to support minority homebuyers.
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A number of banks experienced major increases in 7(a) lending activity during SBA's recently completed fiscal year, as program-wide loan volume topped $37 billion for the first time.
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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.
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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.
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A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.
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Comerica Bank in Dallas has been around since before the Civil War. But the banking crisis of 2023 tamped down on its access to low-cost funding, and the problem persisted until it finally decided to sell itself.
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Federal Reserve Gov. Michael Barr said in a speech Thursday that he fears the gradual pace of price increases from tariffs being passed on to consumers may prolong the one-time inflationary effect of the tariffs to the point where it affects consumers' inflation expectations.
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Comptroller of the Currency Jonathan Gould says he wants to crack down on big banks caught cutting ties with controversial, if lawful, individuals and businesses, as required by President Trump's debanking initiative.
The superregional bank ranked at the top of surveys from Javelin Strategy and Keynova Group on mobile banking features for the second consecutive year.
The 23rd annual ranking of women leaders in the banking industry.
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