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As part of a settlement with the Justice Department, Patriot Bank must invest more than $1 million of the total in a loan subsidy fund for minority homeowners and take other corrective steps in its everyday business. The bank denied any wrongdoing.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

The Minneapolis company's balance sheet is still feeling the weight of higher funding costs, but CEO Andrew Cecere gave several reasons why he anticipates revenue growth will begin to outpace noninterest expense growth and efficiency will improve after midyear.

The former Obama administration official and MBA head died unexpectedly on Jan. 16.

The Federal Reserve's vice chair for supervision also said he expects cyber threats against the financial services industry to become increasingly disruptive.

Ukraine is the latest of more than a dozen countries where the fintech is partnering with credit bureaus to help immigrants make a fresh start in their new homes.

The central bank granted 15 large banks eight additional months to prepare their resolution plans. Federal regulators are currently weighing changes to their resolution planning framework.

As merchants push the government for relief from funding consumer card perks, the card network is exploring how to replace cash with digital incentives.

Centra Credit Union in Columbus, Indiana — which completed a merger with NorthPark Community Credit Union this month — has agreed to absorb Hoosier Hills Credit Union. The latest deal would create a $3 billion-asset institution.

The digital-only bank is among the first to offer such a feature, which can make a bank and its checking account stickier.