The Latest

More BNPL action, BMO's new Chicago digs and more in banking news this week

The boards of the Cornerstone League and the Heartland Credit Union Association are moving forward with due diligence to possibly combine the organizations, which serve credit unions in five states.

The New York megabank’s decision, which takes effect on July 1, emerged on the same day that the Supreme Court overturned Roe v. Wade. JPMorgan Chase is following the lead of Citigroup, which announced a similar policy at the start of the year.

Contactless payments went mainstream during the pandemic, but now some merchants are giving incentives for cash payments at the point of sale to offset higher fees owed to card networks due to inflation.

Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.

Kent Oram will step down on Dec. 31 after more than 15 years as president and chief executive of ICCU.

Elon Musk’s demand that executives be present in the office carries an important message for bankers.

With global tensions rising over Ukraine, the cutthroat competitiveness of the U.S. financial sector is yielding to partnership over the conviction that a cyberattack against even a group of minor banks — or a third-party service provider — could imperil everyone in a highly connected system.

Pushes for transparency on charitable donations and ghost guns, among others, were voted down.

JPMorgan Chase, Bank of America and Wells Fargo will account for more than $2 billion of the lost revenue, according to a new report from The Pew Charitable Trusts.