The Latest

Under the Federal Reserve’s loosened restrictions, big banks can buy back a limited amount of their stock starting next quarter, but only JPMorgan Chase has announced detailed plans to do so.

Safaricom Plc. is in negotiations with fund managers, investment banks and insurance companies to partner on a raft of mobile phone-based savings and wealth-management products, Chief Executive Officer Peter Ndegwa said in an interview in Nairobi, Kenya’s capital.

Citigroup promoted 70 women in its latest class of managing directors, the most ever but still less than a third of the total.

The pandemic and social unrest made 2020 one of the most challenging years in recent memory, but there is much the industry can learn from the past 12 months.

The pandemic has forced Bank of America, Chase, PCSB and other banks to find new ways to maintain connections with their customers and communities.

The Pennsylvania senator, who will chair the Banking Committee if Republicans hold their majority, agreed to modify an amendment restricting the Federal Reserve’s emergency powers that Democrats had criticized as too extreme.

Digital financial services provider Vacuumlabs is partnering with Global Processing Services to boost mobile app-based and e-wallet features for businesses of all sizes.

At least two items on the industry's Paycheck Protection Program wish list were delivered: provisions allowing many existing borrowers to obtain new funding and streamlined forgiveness for loans of $150,000 or less.

Many companies had to pivot sharply in just a month or two. Others were rewarded richly for their earlier investments in digital technology.

A long-awaited COVID-relief package in Congress is expected to extend liquidity measures for the industry and provide assistance to consumers that could help lenders avoid rising delinquencies.