Finance

Investors in two subordinated bonds from Lehman Brothers received word that a payment is coming, just two weeks after the 12th anniversary of one of the world’s most spectacular banking collapses.

Robert D. Ramirez has accepted the top job at the South Florida credit union as it attempts to turn around following a steep decline in earnings and a jump in charge-offs.

To shore up the share insurance fund, the National Credit Union Administration would be wise to give the industry additional temporary investment options.

Looking to expand beyond its current role in providing compliant digital payment options for legal cannabis businesses, AeroPay has caught the attention of fintech investors.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.

The moves are intended to offset a protracted period of historically low interest rates and expectations of higher credit costs in 2021.

Petal, the credit card aimed at millennials and others with limited credit histories, has raised $55 million in a Series C as main street banks pull back on credit during the COVID-19 crisis.

New Enterprise Bank would focus on venture capital and private equity firms that are involved in investment between China and the San Francisco area.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform.

As more consumers look for alternatives to credit cards, investors are flocking to point of sale credit firms, with Affirm raising a fresh $500 million.

The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations.

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.