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The San Francisco bank's employee retirement plan allegedly overpaid for preferred stock that was eventually deposited into employees' retirement accounts. The bank said that it "strongly disagrees" with the Department of Labor's allegations, but it agreed to the payment in order to resolve the matter.

Renovite Technologies supports reconciliation and security, and is part of a series of moves the bank is making to counter the fintech incursion into payments.

While the total number is less than some previous rounds, the reductions are a resumption of Goldman's annual culling cycle that it had largely paused during the pandemic, according to people with knowledge of the matter.

An appeals court ruled that the electronic delivery of private information that was not made public did not constitute real harm to the consumer.

The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.

Ann Marie Nelson has tendered her resignation as president and CEO of Adventure Credit Union in Grand Rapids. The company named Amanda Garabedian, its chief operating officer, as interim CEO.

By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.

The three challenger banks have defied the odds and created business models that have made them net positive in a market where fewer than 5% of startups are making money.

VTB, one of the largest state-run financial institutions in Russia, is allowing transfers in yuan without using the SWIFT messaging system. However, building scale without access to Western markets will be a challenge.

The Mortgage Bankers Association forecast comes as bankers continue keeping an eye on their commercial real estate portfolios, including office buildings. The MBA also noted that many companies have long-term leases on their offices, likely making the hit more gradual.