Finance

Seven of the 11 largest credit unions in the country by assets experienced a year-over-year drop in earnings in the second quarter, with increased deposit costs being a primary culprit.

Coinbase Global, the largest U.S. cryptocurrency exchange, said its second-quarter loss narrowed and revenue exceeded estimates.

Their links to the Treasury have been considered a source of strength and still are, but less so, according to one rating agency. Others disagree.

The payment company's CEO views Afterpay, a buy now/pay later lender it bought two years ago, as a way to drive usage of Cash App and broaden consumer experiences.

The acquisition of Silicon Valley Bank helped push the bank's capital ratio to 13.4% in the second quarter, above its target range. But First Citizens said it would focus on absorbing SVB, and assess the impact of new capital rules, before restarting buybacks.

Despite healthy second-quarter revenue growth, PayPal's stock fell Thursday amid higher-than-expected losses from merchant loans.

The Seattle bank, which has lost about two-thirds of its market value this year, is also said to be considering raising capital and selling assets.

Investors should expect "consistency, predictability," says COO Tyler Wilcox, who is scheduled to take over for longtime CEO Chuck Sulerzyski when he retires next spring.

In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.

Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.