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Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

The Maryland-based credit union has promoted Chief Operating Officer Tonia Niedzialkowski to president of the organization with an eye toward eventually naming her CEO.

The number of Paycheck Protection Program loans to U.S. small businesses more than doubled in the third week of the latest round of pandemic relief aid, as Bank of America and JPMorgan Chase each processed more than $1 billion in funding.

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.

Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

illionaire Jack Ma’s Ant Group delivered about $2.3 billion in profit in the quarter right before Chinese regulators brought down the hammer on the financial technology giant’s record public offering and ordered it to scale back its sprawling business.

Randy Glassburn spent 33 years in the industry and recently led his credit union through a merger into Financial Center First Credit Union.

The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.