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Financial technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found.

Peach State Federal Credit Union in Lawrenceville, Georgia, is merging with Abbeville Community Federal Credit Union in Abbeville and Pickens Federal Credit Union in Pickens.

The Federal Reserve's campaign to tighten financial conditions has resulted in notably increased borrowing by U.S. banks at the central bank's discount window, normally a last-resort funding source.

University of Chicago economist Austan Goolsbee previously served as chair of the White House Council of Economic Advisers during the Obama administration.

The New York financial regulator said the move would help the agency ensure customer protections are in place in the volatile crypto market.

Carol Hauck will leave the role in the first quarter of 2023. The Sacramento, California-based company said it hired D. Hilton Associates to conduct a nationwide search for its next leader.

FTX's previously unknown ties to the banking system have raised questions about crypto's reach in traditional finance.

Wells Fargo cut hundreds more mortgage employees Thursday, the latest in a series of reductions across the industry after higher interest rates brought the pandemic-era home-lending boom to halt.

Dianne Dobbeck, head of the Federal Reserve Bank of New York's supervision group, said the banking system is sound, but potentially destabilizing risks must be monitored and addressed.

Treasury Secretary Janet Yellen, whose signature will soon appear on U.S. currency, joked with the talk show host Stephen Colbert that she worked hard to avoid the ridicule faced by some of her recent predecessors over their sloppy handwriting.