The House Financial Services Committee held a subcommittee hearing with senior staff from banking agencies, while the oversight branch of the panel questioned some large banks on their ESG efforts in asset management units.

The Pittsburgh superregional reported lower second-quarter earnings as net interest income tapered and deposits fell from the previous quarter. CEO William Demchak predicted further weakening of loan demand and NII through the current quarter.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.

Solopreneurs are the new engine of business growth in the U.S., and banks and financial services regulators need to recognize their importance.

The Wildflower Foundation is seeking to raise $10 million for its Sunlight Loan Fund, which supports teachers who want to provide broader access to Montessori education. U.S. Bank recently closed on the inaugural commitment to the fund.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

Such concerns have taken on new importance with recent advances in artificial intelligence tools, which are "the most transformative technology of our time," Securities and Exchange Commission Chair Gary Gensler says.

Data-sharing runs through dozens of projects designed to generate revenue beyond the point of sale.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.

If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.

Experts and industry leaders said banks are pumping investment into technology that can connect information silos.

The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.

The New Jersey institution has hired Jeanne Scungio, a veteran banker who ran First Republic Bank's New York operations, to oversee its expansion into the Big Apple.

The private-equity firm plans to focus on innovation and acquisitions when it takes a controlling stake of the payments processor.

The Supreme Court's ruling on affirmative action in higher education has opened the door to challenges of diversity initiatives in the financial services sector, legal experts say. Internship programs for minority students could face scrutiny, as could efforts to increase workforce diversity.

The U.K. entrepreneur died from a rare form of bone cancer, with which he was diagnosed at the start of 2020.

The longtime chief executive of the Federal Reserve Bank of St. Louis will leave his post after 15 years to take an administrative position at Purdue University.

Venture capitalists are increasingly keen on firms that can guide merchants through a maze of emerging processing options.

Eligible customers would receive a credit of up to $5,000 that can be put toward expenses like closing costs, or used to secure a lower interest rate. It's the latest example of a bank launching a program aimed at extending credit to minority borrowers.

Before a hearing in which Sen. Elizabeth Warren, D-Mass., said she would reintroduce legislation making it harder for large banks to merge, the Senate Banking Committee sent three Federal Reserve nominees to the full Senate.