Finance

Cross-border money transfer provider WorldRemit has secured $175 million in new capital in a Series D funding round to challenge legacy money transmitters in the fast growing cross-border payments market.

Although Libor will will not be phased out until at least 2021, Randal Quarles said making the switch early is "consistent with prudent risk management."

Lori Bettinger is one of the organizers of NXG Bank, which has applied to open in Columbia, Md.

Midsize banks are more profitable overall than both their smaller and larger counterparts, and the strategy that some of the best performers in this group use to stand out is specialization.

The launch of a combined securitization platform for Fannie Mae and Freddie Mac is meant to ease the transition to a new housing finance system. But questions remain about how the mortgage sphere will adapt to the single security.

Password management app and secure digital wallet provider Dashlane completed a $110 million Series D funding round led by Sequoia Capital. It also hired Lyft’s chief marketing officer, Joy Howard, to take the same role at Dashlane.

London-based processor Checkout.com’s recent $230 million Series A investment is an indicator of investors’ huge interest in cross-border e-commerce and payments in emerging markets.

SunTrust CEO Bill Rogers on Thursday explained the direction he and BB&T chief Kelly King are going with the new name, but gave no hints on what it is or when it will be unveiled.

Grasshopper Bancorp will target the innovation economy in New York City and other markets across the country.

Just two years after it was founded, Brex Inc. is close to securing new funding at a valuation north of $2 billion, according to people familiar with the matter.

Citigroup can beat consensus expectations in 2020 regardless of higher interest rates or stronger global growth, and is well positioned for potential supply chain shifts in Asia, Goldman Sachs said in an upgrade of the stock to buy from neutral.

Banks and credit unions “push back” against an FCC proposal to limit calls; Miami gets the next assistant the bank says is not intended to replace humans.

Wider net interest margins compared to a year earlier helped make up for a slight decline in loan balances, as nearly two-thirds of banks reported higher profits in the first quarter.

A burgeoning trade war, the U.K.’s planned exit from the European Union and escalating tension between the U.S. and Iran have weighed on market sentiment in recent weeks, Citigroup CEO Michael Corbat said Wednesday.

More than 66% of the banks reported a jump in net income during the first quarter but new risks are emerging in interest rates and underwriting, the Federal Deposit Insurance Corp. said Wednesday.

The bank dropped out of the bidding for the card over profitability fears; returning to the market could boost Barclays' investment bank.

Currently, the maximum a federal credit union can charge on most loans is 18%. But a proposal from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez to lower that to 15% on consumer credit could reduce access, experts said.

It's tempting to reach for higher returns on securities in anticipation of tightening margins. However, that strategy has pitfalls, including underestimating risks or being caught flat-footed by future rate moves.

JPMorgan tells OxyContin maker to take its business elsewhere; reelection tallies are smaller than last year’s.

The California-based institution posted growth in loans but saw net income fall from a year earlier.