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Research shows the number of fraudulent transactions and dollar amounts involved are soaring as merchants increasingly go digital. Credit card and other companies are expected to more than double what they invest in AI and other tech to fortify their systems.

By acquiring First Sound Bank in Seattle, the fintech would control the strategic direction of the combined company and won't have to share revenue, CEO Luvleen Sidhu says.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

Citizens Financial Group, which has offered instant financing for the Xbox All Access program since 2019, will now provide point-of-sale loans for Microsoft PCs, tablets and other products and services.

Despite rising wages and savings, Americans are stressed by debt and pessimistic about their financial prospects. For banks, delving into the reasons is the first step in helping customers achieve a greater sense of economic security.

Investment activity that takes place outside the banking system requires a new, broad-based set of global regulations to tackle inherent instability, the Bank for International Settlements said.

The guessing game is over about President Biden’s pick for Federal Reserve chair, but several names are in the mix for three additional vacancies on the board, including vice chair for supervision.

The transaction will enable possible acquisitions and provide cost savings of $500,000 a year by allowing the Virginia bank to redeem a block of higher-cost notes.