Consumers welcome more generous forgiveness policies and the chance to have past defaults erased from their record, but they need assistance connecting the dots, financial services executives say.

The Department of Justice is prosecuting ex-JPMorgan Chase bankers under federal racketeering law, a move public interest advocates hope could lead to more accountability for financial firms.

The startup FuturePay is working with Cross River Bank to offer an instant line of revolving credit in a manner similar to how BNPL lenders operate.

Tuesday’s announcement provides clarity to institutions that are trying to stay ahead of quantum computing’s threat to data security.

The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.

Dermot McDonogh will be the custody bank's chief financial officer, as incoming CEO Robin Vince starts making his mark. The two each spent more than two decades at Goldman Sachs.

The nine banks in the group are experimenting with lending, secondary market and payments activities on the Provenance blockchain as they seek ways to perform basic banking tasks more efficiently.

Banks and payment companies may have to decide whether to proactively protect or prohibit transactions for abortion treatment. Any action — or inaction — can be seen as taking a position on the highly divisive issue.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The Federal Reserve’s aggressive rate hikes are leading corporate clients to demand higher deposit rates, according to industry consultants. Some banks are better positioned than others to weather the changing landscape.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

The Federal Reserve System is facing increasing demands from the Senate to revamp the process for granting master accounts, disclose more information to the public and pick more diverse leaders. That pressure makes executive searches at the Kansas City and Chicago Fed banks more complicated.

Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.

"It's probably the only asset class where maybe the client knows more than the advisor right now," Maxwell Lane, head of product for Flourish, said at Financial Planning's Invest conference.

The U.S. retail arm of Bank of Montreal plans to reduce the charge from $36 to $15, following the approach taken by M&T Bank and Huntington Bancshares.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

An independent investigation found no evidence of a pact with Wells Fargo’s attorney but omitted mention of the other big questions emanating from the case.

House Financial Services Committee Chair Maxine Waters is the second top Democratic lawmaker to dress down the megabank in recent weeks. Senate Banking Chair Sherrod Brown wrote a similar letter to Wells Fargo CEO Charlie Scharf in late May.

Large banks are facing an increasingly difficult challenge on environmental and social issues: balancing the demands of progressive activists and their own employees with those of Republican state officials. One analyst calls it the “goldilocks dynamic.”