It's hard to see FedNow as a revolutionary solution because it's not actually much newer, faster or cheaper in many cases than existing payment services.

The job cuts come amid caution about the industry's growth potential in the second half of the year. Some 45,000 positions have been lost in banking and related industries over the last two-plus years.

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

The longtime payments executive plans to maintain the company's alternative pricing as a way to address the growing criticisms of interchange.

Tighter credit standards and lower demand for business loans could make it harder for the Fed to achieve the soft landing it's seeking. Still, bankers are cautiously optimistic, noting that some businesses are using their savings to invest at a time when borrowing costs are high.

Roughly 55% of people sentenced for embezzling funds from 2007 to 2017 were women, according to new research. Some experts suggest women are more likely to hold accounting and money-handling jobs, while others say the trend is a reflection of biases by employers and law enforcement.

Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.

The bank developed its cloud-based Ally.ai platform within months. Now it has rolled out its first use case: summarizing customer service calls so the agent doesn't have to multitask.

There has been a recent surge in organizing efforts among credit union employees. To discourage this, leaders should pay workers well, provide good benefits and be accessible.

Unionizing a workplace is an arduous process, meaning that employees who organize are dedicated to change. Executives must seize on these moments to address workers' concerns instead of reacting defensively.

Expansions in the state by giants such as JPMorgan Chase and Bank of America could accelerate credit union consolidation, as evidenced by two recent deals.

There is an urgent need for a new class of security solutions that will allow people to retain control of their decentralized financial lives with confidence and safety.

A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

Consumers favor credit cards that offer better spending rewards and that card issuers should consider providing services to help their customers manage growing account balances, J.D. Power's annual survey found.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.

The latest draft emphasizes integrating cybersecurity into core governance functions and broadens its scope beyond just critical infrastructure sectors. It also offers guidance on dealing with novel threats, such as newer strains of ransomware.

Many institutions are building internal development programs to lower the barriers of entry to more senior roles as aging leaders retire.

Offices impacted are located in Chicago, Cincinnati and Kansas City, a company representative said Wednesday.

Establishing a conduct risk authority in the U.S. would go a long way toward restoring trust in the banking industry.