Finance

William "BJ" Losch will become chief financial officer at the Wilmington, North Carolina-based small-business lender. The former CFO of Iberiabank will take over the vacated position at First Horizon on an interim basis.

Dozens of digital tools are billed as democratizing finance. But a number of entrepreneurs still see massive gaps.

Fed Vice Chairman for Supervision Randal Quarles says the benefits of a central bank digital currency are “unclear,” and that a digital dollar could actually “pose significant and concrete risks.”

Deserve, a credit card technology startup, raised $50 million from backers including Mastercard and Ally Financial’s strategic investment arm, its chief executive said in an interview.

Upgrade, a lending startup that counts Banco Santander SA and SVB Financial Group’s Silicon Valley Bank as investors, is seeking to triple its valuation in a fresh funding round, according to a person with knowledge of the matter.

Four companies — Regions Financial, MUFG Americas Holdings and the U.S. arms of the Royal Bank of Canada, BMO Financial— felt they had something to prove to the Federal Reserve after being assigned higher capital buffers than most of their peers last year. Will their decisions pay off for shareholders?

How the pandemic is accelerating trends in financial advice and changing the way Americans manage their money.

The cloud-based software vendor has completed a $10 million funding round through BlackFin Capital Partners and Picus Capital.

How technology is enabling new types of payment transmission and what this means for banking.

The huge buffers that banks built up over the pandemic are protecting the financial system from looming threats, regulators told President Biden during a meeting that also touched on climate change, extension of credit to the underserved and other topics.