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HSBC Holdings named Georges Elhedery as its new chief financial officer, setting up the bank's former markets boss as a potential front-runner to eventually replace CEO Noel Quinn.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.

Loans at the Utah bank increased 6% in the third quarter. Executives said a darkening economic forecast could lower that figure.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

The digital card-issuing company Marqeta will offer bank-as-a-service options to nonbanks; Cross River Bank teams with American Express for card issuing on behalf of fintechs; and a Discover Global Network study reveals 78% of fintechs are interested in partnering with payment networks.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

The agency expects one in five borrowers to be eligible for the new pricing benefits.

The bank is using Google Assistant technology to power its virtual assistant, Fargo, according to Michelle Moore, head of digital at Wells.

Former Bank of England Gov. Mark Carney has dismissed reports that Wall Street banks threatened to walk out of the climate-finance coalition he heads, but also said that "tension" within the group needed to be addressed.

The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.

Treasury Secretary Janet Yellen said that while the U.S. financial system remains resilient, the current backdrop has created the conditions where risks to its stability could appear.

The nation's three largest lenders — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group — said they are allowing more flexibility, eschewing a minimum number of office days per week, as experienced elsewhere.

A New Hampshire bank recently rolled out the nation's first biodegradable debit cards, Bank of America next year will begin making all credit and debit cards more environmentally friendly and one of the biggest global card manufacturers vows to eliminate all traditional plastic cards by 2030.

Congress will eventually turn its attention to the fact that taxpayers are subsidizing payments to large financial institutions.