The Latest

In their first direct appeal to President Biden, financial institutions and other industries' trade lobbies called on the administration to abandon its proposal that would give the Internal Revenue Service new information on customer accounts.

The partnership enables issuers to offer credit and debit cards to spend crypto balances.

The U.S. Treasury is creating a new role of point person for racial equity, hiring JPMorgan Chase veteran Janis Bowdler for the job.

The European Union plans to soften the blow to banks from new capital rules, arguing that an easier stance ensures lenders can keep funding the economy as it recovers from the shock of the pandemic.

The New Payments Architecture was delayed for years due to COVID and other factors. It will move ahead focused only on push payments instead of replacing two national rails.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

The state has a poor track record of managing customer-facing operations. It’s difficult to see an upside in the current push for a state-run bank — especially when neobanks are already offering the same services it would provide.

On Jun. 30, 2021. Dollars in thousands.

Treasury Secretary Janet Yellen defended Federal Reserve Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term — even though in the past she’s expressed some misgivings about rulemaking under his watch.