Daily Edition

Bank of America is keeping to its original hiring plans despite challenging economic conditions that have prompted others to pull back, Chief Executive Brian Moynihan said.

The Cleveland company says a second-quarter decline in investment banking and debt placement revenues won’t change its plans to keep hiring bankers to expand that business.

The National Credit Union Administration is considering a rule that would bring its cyber incident reporting framework into alignment with those of other regulators, but would still be more permissive than the 36-hour limit imposed on banks.

The card network's shares fell 10% on Thursday from news that it's conducting an independent investigation of its student loan operation, signaling potentially costly regulatory actions ahead.

The Georgia bank said inflationary pressures and interest rate hikes could erode interest among borrowers, particularly in the commercial real estate business. Total loans grew at a 12% clip in the second quarter.

Kristy Kim, co-founder and CEO of TomoCredit, started out trying to help immigrants like herself access credit. With the latest funding round, she hopes to expand beyond credit cards.

The recent drop in stock prices and valuations is prompting fintechs to focus more on their core competencies. This doesn't mean an end to innovation, but companies will be more selective about how they allocate resources.

Colorado Democratic Rep. Ed Perlmutter's pot banking bill would create legal certainty for banks to do business with the legal cannabis industry and reduce the industry’s reliance on cash. 

The senators called for the Consumer Financial Protection Bureau to consider more instant transactions to be categorized as “errors” or “unauthorized,” making them the responsibility of institutions rather than customers. 

Federal Reserve Chair Jerome Powell recently sold more than $1 million of municipal bonds issued by various entities across the U.S. as tough new ethics rules took effect for central bank officials in the wake of a trading scandal last year.

Banks in the U.S. and Middle East continue to do what self-sanctioning is stopping their European counterparts from doing: financing the trade of crucial Russian crops and fertilizers.

HSBC has agreed to sell its Russian unit to local lender Expobank, the latest international bank to exit the country following its invasion of Ukraine.

American Express, Capital One and JPMorgan Chase hope to entice affluent travelers by enhancing access to airport lounges, many of which have reached capacity after travel rebounded.

The Buffalo, New York, bank flagged urban hotels and construction projects as potential sources of trouble. “But there’s nothing that’s flashing red right now that says there’s a big crisis coming,” said a top executive.

Executives said Wednesday that more than half of the deposits that left the Chicago trust bank were “nonoperational” in nature, or excess funds that institutional investors are moving elsewhere for higher returns. The outflow wasn’t unexpected as interest rates rise.