The Latest

Federal Reserve Chair Jerome Powell said the central bank will take the “necessary steps” to get inflation down even if that means increasing interest rates more rapidly than currently anticipated and eventually to levels that slow the broader economy.

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

Ramp, a startup that offers corporate cards and other finance tools to businesses, raised $750 million in a funding round that valued the fintech at $8.1 billion.

A growing chorus of voices seems to share the view of former New York banking regulator Maria Vullo, who once said, “Toddlers play in sandboxes. Adults play by the rules.” But any movement away from the collaborative development of regulations for new financial services products would be a setback for consumer choice.

The children's research hospital is tapping into the fast-growing market for digital currency donations and NFT sales to appeal to millennials, who are more likely to have crypto investments.

As Mastercard Installments nears launch, the card network is lining up tech partners to connect issuers to its buy now/pay later ecosystem.

The move away from the scandal-plagued London interbank offered rate is going smoothly, according to a new survey of lenders and corporate borrowers. But many customers still face operational challenges ahead of a mid-2023 deadline for switching older loans.

Banks across Europe and the U.S. committed to lend tens of billions of dollars for leveraged buyouts and acquisitions. Now they need to find buyers for the debt, and demand is relatively weak.

When the U.S. announced sanctions against Russia two weeks ago, many feared U.S. banks would bear the brunt of a payback cyberattack. Experts disagree on why that hasn't happened and whether the danger has passed.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.