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The New York State Department of Financial Services found the company failed to adequately protect itself from data breaches. Since 2018, OneMain has suffered multiple cybersecurity incidents.

The intersection of fintech and ag banking is still ripe for innovation. Banks and fintechs are looking for specialized solutions for their ag customers, from harvesting data to managing cash flow fluctuations.

California Credit Union receives a CDFI certification, Klarna adds a credit opt out, Amazon enables biometric-powered alcohol payments and more in this week's banking news roundup.

Credit-card issuers and other lenders are developing financing options focused on managing interest, rewards and credit scores for consumers who face ongoing economic pressures to their budgets.

The Kentucky-based bank plans to acquire the $234 million-asset Sumner Bank & Trust in central Tennessee in a transaction expected to close in the fourth quarter.

Two former top bank regulators argue that efforts to eliminate risk from the business of banking is a fool's errand, and say it is time to refocus banks' managers and boards on the business of managing it.

The San Francisco-based bank — which regulators seized and sold to JPMorgan Chase early this month — was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse.

Holy Trinity Baptist Church Federal Credit Union has about $24,000 in assets, making it one of the smallest credit unions in the U.S. But it has survived and thrived over the past 50-plus years with low overhead and a small but loyal membership.

With billions of dollars at stake, financial institutions weighed in on the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, claiming, in part, that small banks and credit unions will suffer economic harm if the plan goes into effect as proposed. 

The justices ruled this week that a lower court should have ordered the FDIC to reconsider its lifetime ban of a Michigan banker instead of deferring to the agency's judgment. The decision could make financial regulators more hesitant to take certain enforcement actions, experts predict.