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Sandra Thompson has won praise from homeownership advocates for suspending a fee imposed on borrowers that was meant to recoup Fannie Mae and Freddie Mac's pandemic-related losses, among other actions she reversed. On Tuesday, President Biden said he will nominate her to be the permanent director of the Federal Housing Finance Agency.

Allan Kemp McMorris was previously CEO of Oakland County Credit Union. He joined Vibe when the two organizations merged in 2019.

The decision comes after New York state instituted a mask mandate for businesses that don’t require proof of vaccination.

HSBC Holdings is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel.

At their peak over Cyber Weekend, payments were 50% higher than the average day in 2021. Cyber Weekend refers to the four-day period beginning on Black Friday, the unofficial kickoff of the U.S. holiday shopping season.

A clash among FDIC board members has intensified a debate about whether regulators should take a tougher look at large M&A deals. House Financial Services Chair Maxine Waters added to the frenzy by calling for a moratorium on approving big acquisitions.

The American Bankers Association urged the agency to maintain “an orderly, transparent policymaking process” after three Democratic directors had approved a board action without including Trump-appointed Chair Jelena McWilliams. The U.S. Chamber of Commerce went a step further, accusing them of trying to “circumnavigate” McWilliams’ authority.

The acquisition of MoffettNathanson is the latest in a string of moves by Silicon Valley Bank’s parent company to extend the reach of its investment banking arm into the tech sector.

The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.

Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.