The Latest

Bank of America will pay a $10 million fine to the Consumer Financial Protection Bureau and refund fees to 3,700 customers over allegations that it processed illegal out-of-state garnishment orders.

Financial institutions need to begin sharing profiles of fraudsters posing as legitimate customers. The technology to do it securely is already available.

United Community, which bought Reliant Bancorp in Tennessee earlier this year, would deepen its presence in several Southeastern markets and expand its wealth management business with its deal for Progress Financial.

Affirm Holdings, the buy now/pay later startup led by former PayPal Holdings co-founder Max Levchin, will be offering its services to Fiserv’s merchant clients as part of an agreement announced Wednesday.

In global news this week, Grab gets approval to offer digital banking in Malaysia; Italy's post office invests $27 million in a a buy now/pay later lender; Apple struggles to appease Dutch regulators; and more.

Long Game, which Truist acquired for an undisclosed sum, allows consumers to set savings goals and earn extra cash by playing casino-style lottery games.

Democrats face the brunt of this year’s tough elections among the key financial committees in Congress, but Republicans are retiring in greater numbers.

Johnson, who currently heads a housing-finance industry group, will take over this summer from longtime president and CEO Richard Hunt.

During the pandemic, consumer lenders have found it easier to collect payments because the federal student loan moratorium has made many borrowers more liquid. A plan for blanket forgiveness reportedly under consideration by President Biden could sustain that trend.

Representatives of the retailer community will face off against payment card network and bank executives over credit and debit card interchange during a Wednesday hearing to be chaired by Sen. Dick Durbin.