The Latest

The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.

Shareholders at America's largest bank voted against requiring an independent board chair, though the proposal drew more support than similar measures did recently at other megabanks. The vote came just one day after Dimon signaled that his departure as CEO may be on the horizon.

Irvine-based CBC Bancorp's $121 million deal for Bay Community Bancorp in Oakland stands out at a time when high rates have put a damper on both the number of deals taking place and the multiples sellers are paying.

The company changed several of the practices the agency complained about several years ago, such as threatening to report nonpaying borrowers to credit bureaus, co-founder Rodney Williams says.

The bill spells out how the Securities and Exchange Commission can and can't address crypto custody at banks and is getting a wave of bipartisan traction on Capitol Hill. But some academics and consumer advocates are concerned that the legislation could allow banks to bypass regulations.

Getting appointees confirmed by the Senate can be a time-consuming and painstaking process in ideal circumstances, and doing it in an election year amid a scandal is far from ideal. Even so, the White House and Senate Democrats should be motivated to move fast.

Martin Gruenberg's ouster from the Federal Deposit Insurance Corp. leaves the White House with the difficult task of finding a regulator willing to serve a roughly six month term atop the beleaguered agency.

West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.

The Bank for International Settlements' Innovation Hub is doing important work on integrating new technology into the global financial system. The next step is to bring both banks and nonbanks into the discussion.

These three payment firms are working to grow revenue by pivoting to new markets and technologies, all while waiting for a turnaround in the industry.