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The levy targets large financial institutions as a source of revenue. Industry groups argued that it discriminates against out-of-state banks, but the Washington Supreme Court disagreed.

The tech company has abandoned plans to offer checking accounts in partnership with banks and will instead focus on being a technology provider for them. Citigroup says it will press ahead with aspects of the digital banking project on its own.

Bank of America’s online-banking platform went down for several hours Friday, leaving thousands of customers locked out of their accounts before service was restored.

A U.S. effort to regulate stablecoins favors policing them like lenders, which could jeopardize the future of tokens from firms that refuse to seek federal banking licenses.

The move is one of several the company announced this week and appears to position Anthony Restel, the current chief operating officer, as a potential successor to CEO Bryan Jordan.

A bug in a recent update of the decentralized finance platform Compound sent users nearly $90 million worth of cryptocurrency in error, leaving its creator’s CEO begging users to voluntarily send it back.

The Iowa credit union's deal for Home Savings Bank in Madison, Wisconsin, is the 11th this year to feature a credit union buying a bank.

Having the U.S. Postal Service offer bank accounts is a bad idea for many reasons, including privacy concerns. The USPS, which has reportedly spied on Americans' social media accounts, cannot be trusted with a window into their finances.

Eagle said it would pay $41.3 million for First Community Bancorp. It would be the bank's fourth purchase of a Montana bank since 2018.

By limiting the credit offered to new borrowers during the pandemic, banks created an opening for installment lenders like Affirm, Afterpay and Klarna.