The Latest

The bank is close to an agreement with Cerberus’s French banking outfit; the two-day, first-of-its-kind sale attracted a winning bid that was 21% higher than the market price.

A new report from the regulator shows slower growth in membership and lending, as well as a decline in the number of credit unions reporting profits.

As the fintech industry matures and takes stock of how it has disrupted the banking industry for good, it’s critical we continue placing value on specialization to create a better, customer centric experience for all, says Moorwand's Luc Gueriane.

The scrutiny on installment lenders could prompt them to fine-tune their offerings and diversify into new markets.

Jelena McWilliams, a Trump appointee, pushed back Wednesday on reports that an incoming Democratic majority may be able to enact policy at the Federal Deposit Insurance Corp. without her support. "The chairman really controls the board agenda," she said.

The Federal Reserve will determine within days whether to extend the easing of the supplementary leverage ratio for big banks past March 31, Chairman Jerome Powell says. And it's a couple of weeks away from announcing whether there will be limits on second-quarter dividends and buybacks, he says.

The American Fintech Council and the Financial Technology Association say they’ll promote responsible innovation, fair access to financial services and more. Their dozens of members include some of the biggest names in fintech.

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers.

"On streets, online and in many Asian-owned small businesses, we are seeing physical assault, verbal harassment and refusal of service," JPMorgan Chase CEO Jamie Dimon wrote in a memo to staff. "These racist acts cannot — and will not — be tolerated."

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year.