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The National Credit Union Administration found that O.F. Toalston Federal Credit Union and Mingo County Education Federal Credit Union — which were placed into conservatorship last month — would never regain sustainable operations.

While many of the details around FTX's remarkable collapse will only be revealed as it progresses through bankruptcy, interviews with FIA conferencegoers this week show they're facing a reckoning of their own.

In global news this week, Spanish banks test a CBDC, RBC offers buy now/pay later in Canada, and Microsoft expands its relationship with a British fintech.

The Biden administration is considering extending its pause on student loan repayments, now set to resume Jan. 1, in response to legal challenges to its student-debt forgiveness program, according to people familiar with the internal discussions.

Visa is working with online travel agencies to promote the use of virtual cards and tokens to streamline payments, refunds and add-ons.

In a new report, the Treasury Department also raises the question of scrapping the $10 billion threshold for debit card issuers in the Durbin amendment.

Banks that offer a wide array of products and services are confronting extraordinary challenges. They aren't doomed, however.

Sharonview Federal Credit Union in Indian Land, South Carolina, named Herb White as its new president and chief executive. He will replace outgoing CEO Bill Partin on Jan. 1.

Apollo Global Management has agreed to acquire Sector Financial, which focuses on middle-market direct lending, as part of its purchase of a portion of Credit Suisse Group's securitized products group, according to people with knowledge of the matter.

Square will launch an Amex-branded credit card next year through its app, targeting its U.S.-based sellers using the card network's fintech-centric approach.