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Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.

The Brunswick, Georgia, credit union has hired Mary Jenrette, who was most recently senior vice president of private wealth management at the bank.

In a reversal of a Trump-era decision, the Consumer Financial Protection Bureau says it has the legal authority to test lenders for potential violations of a law protecting military borrowers.

Before its disappearance, Avaddon said it hacked Valley National Bank's network and threatened to leak sensitive data. The bank is still investigating.

Federal Reserve officials held interest rates near zero while signaling they expect two increases by the end of 2023, pulling forward the date of liftoff and projecting a faster-than-anticipated pace of tightening as the economy recovers.

In the past five years combined only 14 banks failed to meet the minimum market capitalization for inclusion in the index. In this year's rebalancing, 82 are being removed and some may have to consider strategic options to appease investors.

During lockdown, adoption of services like mobile order-and-pay, biometric authentication, contactless fare collection and digital currency accelerated. Consumers have more options than ever — and their behaviors will guide further innovation.

HSBC Holdings is set to announce the sale of its French retail unit to the private equity firm Cerberus, putting an end to a lengthy sale process that began more than 18 months ago.

Inventory shortfalls continue to constrain commercial lending, while the savings glut is holding back consumer borrowing, industry executives say. The good news: At some banks, pipelines are at or above pre-pandemic levels.

Financial firms can minimize the damage by understanding where key threats lie, educating employees and customers about phishing scams, and breaking down silos between compliance, fraud and security teams.