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Longtime Visa president Ryan McInerney will become CEO in February 2023 when Al Kelly steps down from the post he's held since 2016. Kelly will become executive chairman of the board following the transition.

TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.

The subprime consumer lender, whose stock price has sagged this year, is being sold to an asset management firm. Elevate's CEO told employees that "the current market conditions present a challenging backdrop for our organization and so many others in the consumer finance industry."

The bank postponed its quarterly earnings report and warned of a $27.5 million loss tied to troubles in its digital- asset mining loan portfolio.

FTX co-founder Samuel Bankman-Fried, one of his related companies and two other top executives at the collapsed cryptocurrency exchange received massive loans from an affiliated trading arm, Alameda Research, according to a bankruptcy court filing Thursday.

While rising rates buoy revenue for the country's largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet, exacerbating a capital squeeze that's prompted most of them to halt buybacks.

Securities and Exchange Commission Chair Gary Gensler and Treasury Under Secretary for Domestic Finance Nellie Liang see urgency in shoring up liquidity in government debt markets during times of stress.

The National Credit Union Administration has asked Congress to restore its authority over credit union service organizations and other vendors, but some in the industry say the regulator already has enough on its plate.

The embattled cryptocurrency mogul Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with "incessant and disruptive tweeting" that appears aimed at moving assets away from the control of a U.S. court in favor of one in the Bahamas, U.S. lawyers for the bankrupt crypto platform FTX said in a court filing.

North Carolina Republican Patrick McHenry — who's in line to lead the House Financial Services Committee after the GOP won control of the chamber in the midterm elections — has called for the Fed to stay focused on controlling inflation. Democrats, who retained the Senate, have begun to voice concerns that higher borrowing costs will hurt jobs and potentially cause a recession.