The Latest

UBS Group Chairman Colm Kelleher said the bank will focus on the very richest US clients, backtracking from a plan to serve a broader segment of affluent customers after it abandoned a deal to buy the robo advisor Wealthfront.

Policymakers from across the ideological spectrum can work in tandem with banks to ensure every American has access to the financial tools they demand and deserve.

Royal Bank of Canada posted earnings highlighting its strength at home a day after striking the company's largest deal ever to bolster the business.

HSBC Holdings has announced plans to shutter more than 100 of its U.K. branches next year as the bank pushes more of its customers to use its online services.

In global news this week, Virgin Atlantic upgrades its payment system, Ireland proposes cash preservation regulation, PayPal's under pressure in Poland, and more.

The Inflation Reduction Act is starting to change the way bankers view their climate targets.

Early next year the 2nd Circuit Court of Appeals is slated to consider whether certain loans are actually securities.

Central Pacific Bank, which has branches on the Big Island, is tracking the eruption of Mauna Loa in an effort to limit the risk of service interruptions. So far, the impacts appear to be limited.

The Federal Deposit Insurance Corp. lacks a board member with state banking regulatory experience as required by law, the Conference of State Bank Supervisors says. None of President Biden's picks — including acting Chair Martin Gruenberg — meets that criterion.

Lenders that offer streamlined refinances in the future shouldn't be required to consider the borrower's income or employment status, according to the Mortgage Bankers Association. The trade group's comments were part of its response to a request for information on mortgage products that would support the financial stability of households.