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The move gives stockholders a greater portion of recurring, predictable income as private equity asset sales stagnate due to higher interest rates and jitters over a potential recession. In exchange, the firms' dealmakers will get a bigger slice of the gains when their investments pay off.

While ransomware group Alphv/Blackcat claims to have orchestrated the incident, title insurance company Fidelity National Financial has not yet stated whether confidential data was compromised.

JPMorgan set a target last year of $1 billion in "business value" generated by AI in 2023, and the firm increased that goal to $1.5 billion at its investor day in May.

Total loans at U.S. banks with less than $10 billion of assets grew by 1.9% in the third quarter, according to S&P Global Market Intelligence data. That was a slowdown from the previous quarter, and concerns about the viability of commercial real estate lending could dampen activity further.

Morais, who leads the auto lender's consumer and commercial banking divisions, is preparing to leave as Ally Financial conducts a search for its next chief executive officer. She had been seen as a potential candidate to replace outgoing CEO Jeffrey Brown.

Australia plans to put Apple Pay and Google Pay under the same rules that apply to credit cards, NatWest is inviting customers into its branches for a tabletop game about the perils of financial scams and more.

Two years after acquiring the installment lender Afterpay, Block, which also owns Square, is seeing the payoff of a strategy that focuses on the sale of specialty items.

Small towns, in which community banks are disappearing, have increasingly little to offer nascent businesses in the way of reliable credit.

Goldman Sachs, which has been trying to jettison its struggling credit card business, now has a potential way out of its partnership with Apple.

The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.