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In a new report, the Treasury Department also raises the question of scrapping the $10 billion threshold for debit card issuers in the Durbin amendment.

Banks that offer a wide array of products and services are confronting extraordinary challenges. They aren't doomed, however.

Sharonview Federal Credit Union in Indian Land, South Carolina, named Herb White as its new president and chief executive. He will replace outgoing CEO Bill Partin on Jan. 1.

Apollo Global Management has agreed to acquire Sector Financial, which focuses on middle-market direct lending, as part of its purchase of a portion of Credit Suisse Group's securitized products group, according to people with knowledge of the matter.

Square will launch an Amex-branded credit card next year through its app, targeting its U.S.-based sellers using the card network's fintech-centric approach.

The fall of a major cryptocurrency exchange and subsequent drop in digital currency prices represent an opportunity to some bankers, who say investors and businesses will turn to regulated companies for crypto help.

The Consumer Financial Protection Bureau is challenging a recent appeals court decision that its funding through the Federal Reserve Board violates the separation of powers doctrine. That ruling "threatens to inflict immense legal and practical harms" on financial regulation, the CFPB says.

Since the start of the month, the San Francisco-based bank has announced the addition of three wealth management teams — one each from Merrill Lynch, JPMorgan Chase and Wells Fargo.

The agency released two reports Tuesday outlining shortcomings of the background check industry and pledged to root out false information and faulty practices in the space.

Simpler and more inclusive application processes are helping these lenders address the pain points that underserved borrowers encounter at other institutions.