The Latest

Attorneys from Holland & Knight warn that Treasury is targeting financial services companies in Minneapolis and at the southern border in an AML crackdown.

First National Corp. in Virginia announced the sale of its two North Carolina branches. Meanwhile, a number of larger competitors are laying plans for growth in the Carolinas.

After losing nearly $700 million in the fourth quarter as bitcoin's valuation tanked, Brian Armstrong stressed product diversification will help the company navigate the downturn.

The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein. 

The New York bank's technology leaders have been working to reengineer back-office work and give some of it to Anthropic's Claude generative AI model.

The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future. 

The Small Business Administration plans to bar green-card holders from receiving federal small-business loans. The result will be devastating for large swathes of the U.S. economy, costing jobs and cutting tax revenue.

When even a savvy expert in payments systems can't efficiently manage the transfer of funds to relatives in a crisis zone, it demonstrates that the system is failing us. We can and must do better.

The Consumer Financial Protection Bureau's complaint portal has been flooded in recent years, but corporate debt collectors, industry attorneys and consumer advocates question whether the bureau's efforts to reduce the volume will help consumers as much as it helps the firms they're complaining about.

Rich Guerrini said the bank plans to expand its advisor ranks by about 50% as it targets mass affluent and other new clients with personalized branch-based service.