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Wells Fargo is pulling back from student lending as the surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy.

The Main Street Lending Program is off to a slow start, while the PPP is extended five weeks to distribute the remaining $130 billion in loans; the European regulator is softening its stance to allow more deals.

The report from the regulator offers an industry-wide look at how credit unions have fared during the pandemic. Since the outbreak worsened in April and into May, credit quality could possibly worsen while earnings may sag even further.

The U.K.’s six major banking groups are now required to have implemented the new Confirmation of Payee (CoP) scheme for Faster Payments and Chaps as part of a regulatory push to tackle the rampant rise in Authorized Push Payment (APP) fraud.

During the wave of fintech innovation that has occurred over the past decade or so, innovators have gone without meaningful and reliable access to the financial data and processing ecosystem.

The 2008 financial crisis transformed banking regulation. But how have those changes held up in the current recession, and what might be coming next?

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City.

Neil Dauby, the Indiana company's chief commercial banking officer, will have oversight of all operations, reporting directly to Chairman and CEO Mark Schroeder.

With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says.