Daily Edition

In a memo to staff on Tuesday, Citigroup announced a new head of U.S. consumer banking and said that two of its other high-ranking bankers would essentially switch roles.

Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.”

PayPal Holdings Inc. and GiveSendGo have parted ways after the Christian crowdfunding site helped raise funds for people who attended last week’s violent event in Washington.

A team led by Michael Lipsitz, a lawyer hired away from Santander last year, will look at everything from whether prices are fair to whether complaint data contains notable trends.

Japanese card issuer and acquirer JCB International has worked with real-time payments software provider ACI Worldwide to launch a web API-based payment service.

Michael Moeser, senior analyst at PaymentsSource, talks to Matt Oppenheimer, co-founder and CEO of Remitly, about how the remittance market has handled the coronavirus pandemic, and what will happen going forward.

Federal Reserve Gov. Lael Brainard said regulators are seeking to "understand the potential benefits and risks" from utilizing artificial intelligence in the financial services sector.

Congress acted first when it freed financial firms from having to disclose the beneficial owners of commercial clients. Now it's time for regulators to further ease anti-money-laundering reporting requirements by freeing them from filing duplicative or unnecessary suspicious activity reports.

Some categories of businesses, such as restaurants, have different needs the program doesn't adequately address, says LendingFront's Jorge Sun.

Australia Hoover, who started as a call center employee in 1996, succeeds Betsy Mercier, who is retiring after 22 years at the helm.

In the wake of last week's riot at the U.S. Capitol, New York-based Signature is also calling on the president to resign before his term ends next week.

The Stamford, Conn.-based credit card issuer said Tuesday that Brian Doubles, the president and former chief financial officer, will succeed Margaret Keane in April.

Bank of America’s employee-funded political action committee is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week.

The giant retailer is looking to expand its menu of financial services products; in the face of competition, the banks are trying to simplify the product to get more people to use it.

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base.