Finance

Core CPI, which excludes food and energy, rose to 3.1%, up from 2.9% in June.

The Providence, Rhode Island-based bank has hired Aunoy Banerjee as its next CFO, a role that will be vacated by State Street hire John Woods. Banerjee is currently the CFO of Barclays Bank PLC.

Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.

In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce.

Revenues were up for the quarter, but stock compensation-related expenses brought the neobank to a negative net income.

As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.

The payment company increased its financial outlook, partly on the shoulders of new forms of artificial intelligence, such as "codename goose" that are making it possible to update products faster.

BNP and Barclays joined JPMorgan's investment into the Wall Street fintech's products, which help banks with optimizing their balance sheets.

Coastal Community Bank reported smaller profits in the second quarter as it prepared for a growth spurt. "We think we're winning the right business," said CEO Eric Sprink.

The online lender reached profitability ahead of schedule with a boost in loan volumes and increased its outlook for the year despite macroeconomic uncertainty.

Global Payments executives touted the company's Genius point of sale rollout and Worldpay acquisition during a second-quarter earnings call with analysts, but some are concerned the reinvention is coming too late.

Lenders and servicers must determine how quickly to act as some legislators look to enable the move a key regulator has ordered while others urge deliberation.

Equity investment in the sector reached $10 billion for two quarters in a row as the sector weathered tariff uncertainty and saw an increase in exit deals.

Jay Brogdon, currently president of the Arkansas bank, will take the helm at the beginning of next year.

First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.

Employment came in below estimates, which some economists expect could move the bond market in ways that affect loan costs even before the Fed meets next.

The San Antonio-based company plans to remain in state borders, but sees opportunity for growth in major markets.

The decision to rejoin the CEO and chairman roles comes roughly two months after regulators removed an asset cap that had stunted the San Francisco-based company's growth for seven years.

President Donald Trump is bringing in bank leaders to meet with him one by one at the White House. Beyond the economic discussion, there's a chance at a big payday for their firms.

The card network said inflation remains in check and any impacts of Capital One moving cards to the Discover network will be muted and delayed until 2026.