The Latest

The president highlighted the economic pain his sanctions have inflicted on Russia during his first State of the Union address, and called on the Senate to confirm his slate of nominees to the Federal Reserve.

The impact of U.S. sanctions against Russia on U.S. banks has so far been limited. But further escalation could lead to anti-money-laundering compliance challenges and invite cyberattacks, among other consequences.

The Federal Reserve Board is taking a fresh look at how financial firms get coveted access to the U.S. central bank’s payment system — a controversial question that’s weighing on President Biden’s pick to be Wall Street’s top bank regulator.

Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.

The bank is using Aliaswire’s integration of its BillerDirect platform with Mastercard Bill Pay Exchange to power transactions across multiple channels.

The card brands have blocked Russia's large banks from their networks in response to the Ukraine invasion, a move that may dramatically limit retail transactions and cash availability at ATMs.

Lawmakers in New Mexico recently approved a stringent rate limit, and similar efforts are underway in Rhode Island and Michigan. The state-level actions are among the "numerous headwinds" facing high-cost lenders, one analyst said.

The New York bank recently converted 3 million GM Rewards cardholders to its Marcus app, the next phase of its plans to offer more banking services in unexpected places.

Richard Adams Sr. will step down from United Bankshares' top job on April 1, after 47 years. Current President Richard Adams Jr. will take over.

The European Union is discussing the exclusion of seven Russian banks from the Swift financial messaging system, but the proposed list spares the nation’s biggest lender and a bank part-owned by the Russian gas giant Gazprom.