Finance

The Federal Reserve's latest rate hike will cost Americans with outstanding credit card debt more than $5 billion in additional interest over the next 12 months, according to an estimate from the personal-finance site WalletHub.

The state's largest banks posted solid third-quarter loan growth and earnings. But Hawaii's tourism-heavy economy is vulnerable to lofty inflation and the threat of a downturn.

Investment is flowing out of stablecoins into assets like U.S. Treasuries in response to prevailing macroeconomic conditions, according to Circle Internet Financial Chief Executive Jeremy Allaire.

In a departure from its decadelong strategy of embedding itself directly in merchants' checkouts — and a bid to add value — PayPal is launching support for Apple Pay and Apple's Tap to Pay.

The interest paid on consumer deposits has barely risen despite the Federal Reserve's aggressive rate hikes, writes Sen. Jack Reed, D-R.I., in letters to seven of the largest U.S. banks including JPMorgan Chase and Wells Fargo.

The fintech plans to use the capital to scale its platform, which uses machine learning to make loan decisions, with a goal of reducing bias in underwriting.

The consumer lending fintech is continuing to branch away from its original student loan refinancing gig to drive revenue and beat analysts' predictions.

The shift in refi behavior — in the wake of multiple Federal Reserve interest rate hikes — helped fuel a loan growth trend that's expected to continue through year-end.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Tom Hayes, the former UBS Group trader convicted in the U.K. over the Libor-rigging scandal, had a criminal indictment against him dismissed by a New York judge.