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Treasury assistant secretary for economic policy Ben Harris, one of Joe Biden's top economic aides, has left the administration after years of advising the president.

Despite shareholder worries, UBS Chairman Kelleher expresses confidence in navigating the challenges of integrating Credit Suisse at the at the company's annual general meeting of shareholders in Basel, Switzerland.

Users of the stablecoin Tether were able to access the U.S. banking system via the Signet payments platform, which was operated by failed Signature Bank.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

Stripe said growth in payments volume slowed last year after a pandemic surge, even as it helped more large business clients handle payments over the internet. 

PhonePe backs away from a buy now/pay later acquisition, Germany fines EY for Wirecard scandal, and more.

Despite numerous changes to the Consumer Financial Protection Bureau's final rule on Section 1071 of the Dodd-Frank Act, lenders worry that expenses associated with reporting small-business lending data will cause smaller institutions to end their underwriting programs.

The cost and scope of data sharing were among bankers' top complaints, while fintechs would like fewer restrictions, a report by the Consumer Financial Protection Bureau found. 

The fintech founder was also Square's first chief technology officer and the chief product officer of blockchain-based payments company MobileCoin.

When Colm Kelleher became chairman last April, he inherited feasibility studies by predecessor Axel Weber dating back to at least 2020 on what a takeover of Credit Suisse Group AG would look like.