The Latest

The founding CEO of PayPal and former CEO of Intuit plans to launch Nirvana Money next month. It will combine basic banking with an alternative to a secured card that evolves into a normal credit card.

Three large regional bank CEOs will join their megabank counterparts delivering testimony to Congress for the first time this week.

The cloud retail firm NewStore is an early adopter of the tech giant's iPhone payment acceptance service, which some see as a step toward eliminating dedicated checkout lanes altogether.

Three years after expanding into credit cards, Goldman Sachs has quietly signed up a third partner, T-Mobile US.

American Express is on the hunt for software engineers, coders and developers, part of a 1,500-person hiring spree for its sprawling technology arm.

The megabank rolled out new and expanded employee diversity targets that it aims to meet by 2025. The goals include placing more Hispanics in leadership roles and boosting the number of LGBTQ+ members the company hires from colleges and universities.

The additional data that will become available as the economy slows should reveal the true strength of the technology companies some banks are working with and that should inform whether more regulation is required.

Adrienne Harris, superintendent of the New York State Department of Financial Services, previewed the agency's upcoming climate guidance in an interview with American Banker. Banks "cannot sacrifice" their fair lending and equity obligations "in order to mitigate climate risk," she said.

The Biden administration is officially neutral on the idea of a digital dollar, but a Treasury report released last week lauds potential "significant benefits" of a central bank digital currency.

A new Treasury Department request for comment invites the public to weigh in on how cryptocurrencies are used in illegal activities. It's part of the Biden administration's larger push to create a regulatory framework for digital assets.