The Latest

Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, "Going Infinite."

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.

Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; shareholders approve the Banc of California-PacWest merger; and more in the weekly banking news roundup.

Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.

The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry's shallow bench of women in C-suite roles.

While bipartisan concerns have been raised about workplace abuse at the Federal Deposit Insurance Corp., experts say Chair Martin Gruenberg is unlikely to bow to calls for his resignation in part to protect the agency's regulatory agenda. But that could change if those calls become more stringent and bipartisan.

Dream Chasers upped its bid for Carver, one of the nation's largest and highest-profile Black banks, by a quarter, to $3.25 per share, dismissing the growth strategy interim CEO Craig MacKay outlined in a recent shareholder letter.

Bankers and others now will get until Jan. 16 to weigh in on a proposal that would require more large banks to hold long-term debt. Regulators say they wanted to give the public more time to thoroughly assess its implications.

Even if the 30-year fixed were to slip further to 6.4%, it is not enough to end the seller's strike, economists said.

Canada's government is preparing legislation to promote open banking development, Mastercard has gained approval to process payments in China, and more.