The Latest

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

In congressional testimony, the Federal Reserve chair said the Board of Governors is processing the comments on its capital reform proposal. Putting forth an entirely new proposal is "very plausible."

Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

Orlando-based Cogent Bancorp's Brandon Ghee, a former NFL player, has launched a business line focused on providing banking services to professional athletes and the growing number of college standouts earning six- and seven-figure incomes.

As the head of enterprise technology and security, Guild tries to stay ahead of fraudsters and other bad actors.

Wells Fargo unveiled a new credit card and is bolstering how it rewards customers for their spending, crucial steps in Chief Executive Officer Charlie Scharf's mission to make the fourth-largest U.S. bank a bigger player in a space long dominated by rivals.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

A blizzard of new rules and regulations strikes at the fundamental strengths of the U.S. banking system, and will have negative impacts on both American consumers and businesses.

In 2023, the Biden administration pledged to reduce "junk fees." Ahead of this year's State of the Union, we revisit what progress has been made.

The letter, which was sent to bank regulators, represents a further escalation of lawmaker criticism of the Basel III endgame proposal, and comes just as Federal Reserve Chairman Jerome Powell is set to testify in the House Financial Services Committee.