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Shortcomings in security testing and monitoring of clients could also trip up payment industry players who need to meet new requirements by 2025.

In an exclusive interview, the moderate Virginia Democrat and co-chair of the Community Development Financial Institution Caucus touched on the future of community development, cybersecurity and nonbank regulation. 

The average turnover rate has risen to 23% this year from about 16% in 2021, according to a Crowe Global survey of more than 400 banks. Raises and more generous benefits aren't enough to keep workers, the firm warns.

The regulators issued a joint statement Friday morning reaffirming their commitment to the international regulatory framework, but it remains to be seen if they will do so by the Basel Committee's January deadline.

A Government Accountability Office report found that regulators scaled back supervisory examinations during the pandemic in part because of banks' technological shortcomings.

The new card is meant to make the advance-payroll offering a more appealing way to fight rising expenses.

The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million.

Financial downturns hit lower-wealth communities first and cause them to suffer the longest.

Revolut Ltd. is launching a one-click payment feature in a bid to rival PayPal Inc. and other tech giants at online checkouts.

Alanna McCargo is president of the Government National Mortgage Association (Ginnie Mae). Previously, McCargo served as senior advisor for housing finance to HUD Secretary Marcia Fudge.