The Latest

Ajay Banga is almost certain to become the next president of the World Bank, replacing David Malpass, who announced plans to step down almost a year early.

The equity deal means that Acorns will gain a foothold in the U.K. and Europe, where GoHenry, the challenger bank it acquired, also operates.

Challenger banks MoneyLion, Acorns and Moves are partnering with "taxtech" companies to extend free or low-cost filing help to customers.

The Consumer Financial Protection Bureau issued a broad policy statement on what constitutes an "abusive" act or practice. Industry has long sought to narrow the definition.

The neobank purchased the fintech lender in an all-cash offer, but did not disclose the price tag.

Stripping out the 25 largest banks by U.S. assets, Federal Reserve data showed the industry gained back $5.8 billion of deposits.

Pinwheel, which automates the setup of direct deposit at new accounts, endured a brief and unexpected surge in traffic during mid-March's bank runs.

Switzerland's Office of the Attorney General said Sunday it was working to gather information on "numerous aspects" linked to the takeover, without specifying further what it was looking for.

Bank regulators have historically neglected the needs of Black communities. Channeling funds to the banks that serve them would repair some of the damage.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.