Finance

UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.

As companies mature out of their startup phase, their sales growth curves begin to flatten and costs start to rise — unless, of course, they change their business model. And that’s exactly what Square is doing to maintain its startup-style growth.

Square gave an earnings forecast in the current quarter that missed analysts’ estimates, amid increasing spending on new products beyond its central payments processing business. The profit projection outweighed a strong sales outlook, sending shares down in extended trading.

One of the world's biggest banks wants to boost profits by cutting out voice brokers acting as middlemen in the largest derivatives market.

The credit union hsa been a Sharetec client for five years but was stuck in a contract that left it unable to convert until now.

The Mississippi company will pay $86 million for seven branches with $318 million in deposits.

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.

Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers.

The Atlanta-based technology provider has added five new CUs this year as it expands its suite of product offerings.

The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.

Cryptocurrency venture Bitfury raised $80 million from investors including the merchant bank founded by billionaire ex-Goldman Sachs Group Inc. partner Mike Novogratz.

American Express' VC wing is taking efforts to solidify its position in two sectors that are quickly maturing: APIs for small businesses and digital travel concierge services.

The decision by Citigroup’s board to name an independent director as its next chairman — and not elevate CEO Michael Corbat to the post — is seen as good governance, but it’s also a sign that the company’s recovery from the financial crisis remains a work in progress.

Retailers and restaurants have vigorously supported the ability to pay anywhere from any device, but that technology has not taken hold in more institutional businesses such as health care. It's not for lack of trying from developers.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Apple’s decision to stop disclosing its mobile device sales — along with reports that the company's newest iPhone didn't draw the huge crowds Apple is known for — signal that it may lose the clout that allowed it to collect fees for Apple Pay.

The Missouri company will pay $213 million for the largest bank in Los Alamos, N.M.

Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks.

The advocacy group argues that major core processors are not helping small banks keep pace with customers' technology demands.

Regional lenders would be subject to less regulation while the biggest banks would see no change; the insurance giant got hit with claims from several large natural catastrophes.