The Latest

Taavet Hinrikus turned his startup into the one of the world’s biggest digital-payment firms, giving returns of about 35,000% to early investors including Peter Thiel’s Valar Ventures.

Large and regional banks are not only slashing overdraft fees, they’re introducing small-dollar loans to help customers cope with income shortfalls. The policy changes made recently by just five banks could save consumers as much as $2 billion a year, according to a new analysis.

Democrats cited the increasing share of home purchases by Wall Street firms while Republicans pointed to rising conforming loan limits and other measures by Fannie Mae and Freddie Mac during the Senate Banking, Housing and Urban Affairs committee hearing.

The largest U.S. banks will be tested against a hypothetical massive surge in unemployment and a crash in commercial real estate in the Federal Reserve's annual stress tests, according to scenarios announced Thursday.

Unlike decentralized cryptocurrencies like Bitcoin and Ether, central bank digital currencies are government-backed digital versions of the local currency.

Pat Toomey, the top Republican on the Senate Banking Committee said Congress should weigh an overhaul of the U.S. Federal Reserve Regional Bank system and consider consolidating regional banks that are “wandering” into issues such as climate change.

"In many cases, these are fees where there's not even a service provided or where the bank or financial institution doesn't even do any work,” Rohit Chopra of the Consumer Financial Protection Bureau said Thursday in public remarks.

The Pennsylvania bank expects to generate $1 billion in loans this year from new lines of business focused on broker-dealers, insurance companies and more.

The Chicago bank, which is being acquired by Old National Bancorp, agreed to pay roughly $250,000 under an agreement with the Federal Reserve.

Lisa Schlehuber, who has led the Indianapolis credit union since her appointment as chief executive in 2005, will step down on April 15.