The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.
The Senate approved a key cybersecurity bill Tuesday after several days of debate on the chamber floor and several years of lobbying by business groups, including bankers.
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Fiserv's Money Network will officially start managing the state's prepaid debit card program for distributing unemployment and disability benefits to 850,000 beneficiaries. BofA had been trying to exit its contract for several years due to financial risks.
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The card network said that recent weeks' cold snap in key cities had a chilling effect on U.S. spending, and reaffirmed its sunny outlook for the year.
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Steve Squeri said flatness in the segment is an industry-wide trend, and the company is dedicated to the segment.
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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The Financial Industry Regulatory Authority has fined UBS Financial Services $2.5 million and ordered it to pay $8.25 million in restitution for conduct related to the sale of Lehman Brothers Holdings principal protection notes.
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The stunning decline in property values across most of the country, a prolonged recession and plain-old negligence and shortsightedness on the part of American workers have combined to make retirement more a fantasy than a reality for tens of millions of baby boomers.
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As the economy begins to pick up and as the Federal Reserve hints at a possible interest rate rise, investors are following their historical pattern and losing interest in classic certificates of deposit.
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The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.
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The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.
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As lawmakers discuss reform legislation, the president’s memo calls on agencies to draft both administrative and legislative reform options and deliver their reports “as soon as practicable.”
ELGA Credit Union said it plans to acquire Marine Bank & Trust in an all-cash deal. The combination marks the 12th of the year involving a credit union buying a bank, keeping the industry on pace to establish a new record for such deals.
Rising populist sentiment in the Republican Party means that banks will have to work harder to get the same kinds of wins they did in 2017.
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It will be a bitter pill for some in the crypto world, but strong regulation of stablecoins is necessary to maintain the dollar's status as the world's reserve currency.
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Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.
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For too long, Community Reinvestment Act enforcement has relied on income to serve as a proxy for race. This must stop.
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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 Cincinnati, Ohio-based bank delivered third-quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.
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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.
A new survey finds that fraud losses have jumped significantly in the last year, with digital channels and check fraud posing the biggest threats.
The 23rd annual ranking of women leaders in the banking industry.
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