The company is rolling out a special-purpose credit program to help address what it describes as "the biggest barriers to achieving homeownership." Such programs are gaining popularity among banks.

After eight years leading one of the nation's most prominent Black banks, Michael Pugh will become chief executive of the Local Initiatives Support Corporation.

Citizens Bank of Edmond in Oklahoma, in conjunction with the digital-banking platform Narmi, recently launched an account-opening process that occurs completely online. The project, completed in less than three months, could be a model for community banks that want to innovate but fear being a low priority for vendors.

Artificial intelligence can and should be integrated into the business of banking, but with adequate safeguards in place to mitigate the technology's potential vulnerabilities.

Corporations are leaning harder on virtual cards as post-pandemic business travel ramps up amid hybrid work arrangements, according to a new Mastercard survey. Visa separately has extended its collaboration with virtual-card technology provider Conferma Pay.

During the recent banking crisis, both businesses and wealth management clients moved their money out of banks. Commercial deposits have since recovered, but those in wealth accounts continue to decline amid fierce competition from both inside and outside the banking system.

Fraudsters are using sophisticated skimming devices to steal more card data — and they aren't afraid to encroach on bank property to do so, according to new data from Fair Isaac Corp.

The deal with private equity firm KKR follows an earlier announced sale of $1.3 billion in medical office loans. The Columbus, Georgia-based company has said it's "proactively optimizing the balance sheet" to position itself for long-term growth.

Bank of New York Mellon, U.S. Bank and others are looking at how the Federal Reserve's instant settlement network could safely speed up routing, payroll and billing.

The real threat is from undercapitalized banks, and regulators must require large banks to have enough capital to eliminate that threat.

The Federal Reserve has outlined the process state member banks must follow before issuing, redeeming or holding stablecoins. The agency also says it will create an examination process to monitor novel activities.

The Alabama bank is rolling out an online platform for corporate clients to manage billing-related communications with their own customers.

Moody's said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.

Goldman Sachs told Sen. Elizabeth Warren, D-Mass., that it made $60 million on the purchase and sale of part of Silicon Valley Bank's loan portfolio.

The release of two malicious language models — WormGPT and FraudGPT — demonstrate attackers' evolving capability to harness language models for criminal activities.

Bankers say regulatory burden, rising costs and intensifying competition will reignite a drive for scale and spur dealmaking provided interest rates level off and the economic outlook improves.

Many small-business lenders have less than 18 months to figure out how to gather and report on an extensive array of data.

Despite faster payments' momentum, fragmented systems and cash's resilience continue to hobble cross-border peer-to-peer remittance speed, says MoneyGram CEO Alex Holmes.

Putting the pressure on employees to return to the office could cost financial companies their leadership.

Ybarra, who leads the megabank's sprawling institutional clients group, plans to depart in the first half of next year. Citi says it's assessing how to allocate his responsibilities.