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Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient.

The two similarly named companies had planned to merge. At issue is whether Amalgamated Financial in the Big Apple violated terms of that agreement when it called off the deal in February.

Federal student loan borrowers are likely to experience a notable increase in delinquencies once forbearance concludes in May, a report from the Federal Reserve Bank of New York found.

Russian banks are reportedly courting the Chinese payment network to overcome the loss of Visa and Mastercard. The strategy would test China's willingness to provoke a response from the international community.

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

Sanctions imposed over the Ukraine war prompted the French bank to tell commercial clients it won't process their Russian transactions after March.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.

Banking executives and analysts worry that the Federal Reserve's aggressive plan to raise interest rates will be insufficient to tame inflation and overcome economic fallout from the war in Ukraine.