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Best known as a maker of ATMs and point-of-sale devices, Diebold Nixdorf is launching a new cloud platform to support merchants and their customers as transactions become more hardware-agnostic.

A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.

Revolut’s Chief Revenue Officer Alan Chang is leaving the U.K. financial technology startup for a new cryptocurrency venture and is seeking to raise roughly $100 million in financing.

Thousands of staff, billions of dollars and three decades of complicated relationships. Some of the world’s largest banks are starting to pull back from Russia, but it’s not going to be easy.

Citigroup’s Greg Girasole and Alex Kriete, who were tapped by the bank last year to oversee a new digital-assets group inside its wealth management division, are departing. 

Emma Hayes, who is also the chief diversity officer for the African American Credit Union Coalition will take the lead on programs to further diversity, equity and inclusion for the Raleigh, North Carolina, credit union.

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The deal for Horizon Community Bank in Arizona is the fifth instance of a credit union agreeing to buy a bank this year, and the second such deal for the Phoenix credit union, which bought Pinnacle Bank in 2019.

Prosecutors say Rafael Martinez and his company, MBE Capital, used false information to reap more than $71 million in fees from loans made under the Paycheck Protection Program.

The company has filed a lawsuit against the banking commissioner for threatening to end its partnership with a bank that enables consumer loans to exceed the state’s 36% interest rate cap. OppFi’s argument: Its bank partner is the true lender.