The Latest

The longtime global head of liquidity and cash management will step down in the fourth quarter, HSBC announced in an internal memo. She will be replaced by Manish Kohli, Citigroup's global head of payments and receivables.

A hike in guarantee fees charged to lenders for the companies’ backing of loans was due to expire this year, but lawmakers now want to extend it to raise $21 billion for the bipartisan package.

The card brand has been pitching itself as a testing ground for central bank digital currencies, a payment portal for stablecoins and — most recently — an accelerator for startups.

In his new book “The Day the Markets Roared,” the noted economist Henry Kaufman gives a spellbinding account of the interconnected forces of political power, influence and the lessons the market learns from history.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.

State Street is set to offer cryptocurrency reporting, reconciliation and processing services to its private-fund clients in the latest sign that digital assets are gaining acceptance on Wall Street.

The payments company has completed development of its all-in-one portal. It's an ambitious project, but the first few services — such as bill pay and savings — are relatively straightforward.

Transaction volume soared at the peer-to-peer service in the second quarter. That rising popularity among consumers, coupled with Zelle's relationships with a growing number of transaction rails, could make the network a vital hub in the U.S. push for speedier payments.

Citigroup has gone back to requiring employees — regardless of their vaccination status — to don masks when they’re in the office, according to a person familiar with the matter.

The state's department of financial services is asking firms that it supervises to report information about the composition of their boards and senior leadership. It expects to publish aggregate findings in early 2022.