Finance

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Growth in the KeyStone State was close to or surpassed national averages across a number of fields.

PayPal has joined a funding round for startup Cambridge Blockchain, reportedly the first investment the online payments giant has made in distributed ledger technology.

As N26 schedules its launch for midyear, it will face off against other startups and mobile-only spinoffs from incumbent financial institutions.

Jumia Technologies AG said Mastercard Inc. has agreed to invest 50 million euros ($56 million) in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.

Restaurant point of sale and back-office management provider Toast raised $250 million in a Series E funding round, valuing the company at $2.7 billion, and is adding David Yuan from TCV to its board of directors.

The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value.

The flagship division is on course to miss next year’s financial projections; Investors may be using SOFR swaps as a hedge against expected volatility.

Credit unions in Arkansas and Florida argue that allowing the industry to take deposits from cities and other public entities would help with funding and control for risk.

Community Bank of the Carolinas must raise about $4 million before becoming the state’s first new bank since the financial crisis.

The addition of the conservative pundit could signal the Trump administration's intent to have a more direct hand in central bank policies, yet Moore could experience his own transformation as a Fed governor.

The Scarborough, Maine-based credit union also posted a more than 4 percent uptick in membership.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

The Rhode Island-based institution also finished building a 27,000-square-foot operations center and branch.

Power Financial Credit Union's deal for TransCapital Bank marks the fourth time this year a bank has agreed to be sold to a credit union in the Sunshine State.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

The Association for Black Economic Power will receive an interest-free forgivable loan and a grant from the city to help pay for a retail space and equipment for the effort.

Andy Reed, who currently leads Texas People Federal Credit Union, will become president and CEO of the Dallas-based institution in May.

Some lenders, especially in markets like California, are preparing in case of a technology-industry stumble that hurts business, real estate and other loan segments. Whether those fears are well founded is a matter of debate.

These programs are becoming a more common employee benefit but many lack some of the tools users need to be successful.