The Latest

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.

Growing financial pressures have pushed more adults into living paycheck-to-paycheck and wanting to access their earned pay earlier, calling into question the value of decades-old payroll practices.

The San Francisco data aggregator has committed to minimizing how much data it extracts from bank accounts.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

Ando, a challenger bank focused on sustainability, is helping Virginia Community Capital Bank expand its 5-year-old clean energy lending program by finding a bigger pool of depositors who are eager to fund solar loans.

The largest U.S. bank, which often sets policies ultimately adopted by the broader financial industry, announced the change in a memo to staff Friday.

The Federal Reserve's decision to reexamine the Durbin amendment's Regulation II raises a host of concerns for banks and credit unions over the processing of purchases made online.

Chabot Federal Credit Union is combining with University Credit Union, which was founded on the UCLA campus.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.