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Mastercard's security reinforcement, digital-dollar pushback and more in banking news this week.

Strong climate policy and continued development of stress-testing tools by central banks are essential to transitioning to carbon neutrality.

Executives at banks north of the border pointed this week to several potential U.S. economic snags, including inflation, the possibility of a housing market correction and soaring energy prices.

The government-sponsored enterprises will start releasing information similar to what large banks already do, starting in the first quarter of 2023.

In testimony to the House Financial Services Committee, the Federal Reserve’s vice chair gave a thorough accounting of the Fed’s thoughts on issuing its own digital currency without committing to any specific course of action.

The nation’s six largest credit card companies are facing questions from the Consumer Financial Protection Bureau over their alleged failure to report customer payment data on a regular basis. The agency says that the industry’s practices can hurt consumers’ ability to qualify for cheaper loans.

The agency recently updated a policy document to include technological innovation as a top priority and said it was considering creating a safe harbor for those who develop new products to fight financial crimes.

PayPal Holdings began laying off staffers who worked in risk management and operations this week as the firm seeks to shore up profits after growth in spending on its platform stagnated in recent quarters.

Companies that use artificial intelligence or machine learning in their loan decisions are legally required to provide a specific explanation when applications get denied, the Consumer Financial Protection Bureau said in a policy statement.

Wells Fargo, Citigroup and JPMorgan Chase were among the large banks that last year experienced net losses of high-level bankers in their corporate and commercial units, according to a new report. Bankers are leaving largely for jobs at private equity and debt funds, according to the authors.

The industry is adopting a more progressive agenda. With it comes a sharper lens on inclusion.

American Express is the first issuer to use the search giant's virtual card technology, which uses tokenized credentials to replace other authentication methods.

Royal Bank of Canada posted earnings that topped analysts’ estimates as business loans and solid credit conditions powered its retail banking business.

Bankers are not pleased with a new bill introduced by Maxine Waters, D-Calif. — aiming to help underserved markets — that would expand credit unions' membership and remove restrictions on their business lending.

Banking groups are concerned that their long-fought-for Office of Supervisory Appeals Committee was disbanded without public comment.