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Shares in Silicon Valley Bank's parent company plunged 60% after executives announced they would sell a large bond portfolio at a big loss. The market "seems to be pricing in greater liquidity needs" than the bank currently anticipates, one analyst said.

In a subcommittee hearing on the CFPB, Rep. Andy Barr, R-Ky., sought to dismiss "sky is falling" concerns about other agencies' funding structures being questioned in wake of potential Supreme Court decision.

The card network is examining how to make incentives more personal by using advanced technology to sift through a trove of consumer spending data.

René Jones explained to shareholders how breakdowns occurred following the bank's acquisition of People's United Financial. An analyst called the remarks a "big mea culpa."

In his first dedicated remarks on cryptocurrencies, the Federal Reserve's top regulator said the central bank is well positioned to mitigate risks to the banking system.

The pandemic's push to expand contactless mass-transit payments has produced a 120% increase in Discover's transit transactions since 2020 as more commuters opt for the pay-as-you-go approach versus prepaying.

A disagreement over growth with its original banking-as-a-service provider prompted challenger bank HMBradley to seek a new and larger sponsor and purchase a new core.

Williams, the only woman to ever lead the Office of the Comptroller of the Currency, will help guide the bank as it continues to strengthen its compliance efforts.

The "Taking Account of Bureaucrats' Spending Act" would subject the Consumer Financial Protection Bureau to congressional appropriations and change the name of the bureau to the Consumer Financial Empowerment Agency.

The lawmakers, led by Senate Banking Committee Chairman Sherrod Brown, D-Ohio, said that "banks are delaying the process of resolving their fraud claims by weeks and even months."