The Latest

The Federal Reserve permanently banned a former Goldman Sachs Group managing director from the financial industry for improperly using and disclosing the regulator’s bank-supervision information.

It’s past time for Congress to investigate these transactions at the federal level.

Bank-issued prepaid benefits cards were supposed to help state governments deliver these funds more efficiently. But the pandemic scrambled the economics of these programs.

Citigroup and Bank of America are partnering with four large European banks to create a methodology for assessing how well companies in the air-travel sector are doing in meeting climate-related targets.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Carol Marx succeeds longtime president and chief executive Dennis Tanimoto, who retired in February.

The billionaire entrepreneur Peter Thiel called Warren Buffett, Jamie Dimon and Larry Fink members of a “finance gerontocracy” opposed to a “revolutionary youth movement” that embraces Bitcoin.

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

The Cincinnati bank is joining other large and regional banks in scrapping nonsufficients-fund fees. The move comes amid continued regulatory pressure on the industry to curtail overdraft fees and related charges.

The guidance follows similar instructions laid out by the Office of the Comptroller of the Currency late last year.