Finance

The verdict ends a decade-long lawsuit over the Federal Housing Finance Agency's amendment to a stock repurchase agreement in 2012.

The firms are increasingly seeking to integrate generative artificial intelligence into their products, and banks are potentially interested customers. But such efforts are costly, the risks are high and "they want to make sure that they get it right," experts say.

UMB Financial hired an outside company to provide customer service in connection with some of its credit cards and debit cards. In a lawsuit, the Missouri bank alleges that the vendor suddenly stopped performing its duties, and that the bank's own employees had to step into the void.

During the recent banking crisis, both businesses and wealth management clients moved their money out of banks. Commercial deposits have since recovered, but those in wealth accounts continue to decline amid fierce competition from both inside and outside the banking system.

The fintech's second-quarter results showed narrowing losses as well as membership and revenue growth, even as it took on marketing expenses and paid a data breach settlement.

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.

Median noninterest income at midsize banks rose 7.2% in the second quarter, exceeding expectations. Dallas-based Texas Capital stood out from the pack, reporting a large uptick in fee income thanks largely to its new investment banking platform.

The San Francisco company's student loan business suffered from the moratorium on federal borrowers' loans. But executives see a rebound ahead despite high interest rates dampening appetite for refinancing.

Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.

Despite a sharp drop in spending and rising delinquencies during the second quarter, the issuer's stock rose on news of lower debt, rising deposits and a new private-label partnership with Dell Technologies.

The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.