Finance

Blockdaemon has seen rapid growth in the past year, and has won customers including JPMorgan Chase and Citigroup.

The move brings state-chartered banks and credit unions in sync with their federal counterparts by enabling them to open checking accounts for consumers who have had accounts closed for writing bad checks.

Unchained Capital, a Bitcoin-based custody-service provider and lender, has raised $25 million in funding, valuing the company at $125 million.

The Curql Fund, an investor in upstart technology companies, is trying to help credit unions build relationships with cutting-edge firms.

The pace of the U.S. recovery picked up somewhat in the past two months, sparking price pressures as businesses contended with worker scarcity and rising costs, the Federal Reserve said.

Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.

While the industry is facing greater pressure to scrutinize the environmental risks associated with its financing activities, many banks also sense opportunities in climate change. Here are some examples.

There’s so much spare cash sloshing around U.S. funding markets that investors are choosing to park almost half a trillion dollars at the central bank — earning absolutely nothing.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

Bank of Montreal’s fiscal second-quarter earnings beat estimates as the waning COVID-19 crisis allowed the lender to set aside less for souring loans and gave a lift to the company’s personal and commercial banking businesses.

The industry reported a net release of reserves, helping to make up for a record-low net interest margin and the first year-over-year decline in loan balances in nearly a decade, the FDIC says in its latest Quarterly Banking Profile.

A group of fintech venture capital firms have made a fresh investment in Resolve, a firm that offers alternative supply chain finance.

The bank has been working with tech companies to rewrite algorithms that can take advantage of forthcoming quantum machines sooner than originally thought, to price derivatives, calculate risk and use machine learning.

The banking technology provider Zeta raised $250 million from SoftBank Vision Fund II at a valuation of $1.45 billion, winning its first venture backing to help fuel its expansion.

Business leaders in Atlanta and San Francisco warn that the digital divide will widen if Black-owned companies can't accept online and mobile payments.

Figure Technologies, the blockchain-based startup co-founded by Mike Cagney, is closing its latest funding round that values the company at $3.2 billion.

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.

The biggest U.S. banks criticized a pair of proposals designed to help consumers who don’t use their services.

Share buyback programs, shelved by many banks last year amid pressure from regulators to preserve capital, are back in vogue, with three dozen banks announcing such plans in April alone.