The Latest

Citizens Financial Group, which has offered instant financing for the Xbox All Access program since 2019, will now provide point-of-sale loans for Microsoft PCs, tablets and other products and services.

Despite rising wages and savings, Americans are stressed by debt and pessimistic about their financial prospects. For banks, delving into the reasons is the first step in helping customers achieve a greater sense of economic security.

Investment activity that takes place outside the banking system requires a new, broad-based set of global regulations to tackle inherent instability, the Bank for International Settlements said.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

The transaction will enable possible acquisitions and provide cost savings of $500,000 a year by allowing the Virginia bank to redeem a block of higher-cost notes.

The prepaid card issuer Green Dot backed out of the deal for fear of inheriting a regulatory problem. Republic plans to pursue a separate legal challenge alleging breach of contract.

As Visa and Mastercard weigh raising rates and retail heavyweights like Amazon push back, the fintech sees an opening for a lower-cost payments alternative that banks and credit unions can offer merchants.

Like many smaller financial institutions, Centra Credit Union in Indiana is trying to reduce its tech-maintenance burden by shifting some applications to the cloud, starting with data analytics.

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.