The Latest

Since romance frauds generate more than 10 times the money for scammers per event than other types of fraud, 2020 saw a substantial boost in the use of this tactic.

Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.

Wells Fargo is dropping the Abbot Downing name for managing ultrarich clients’ money as wealth and investment management head Barry Sommers remakes the unit.

Cheese, a new challenger bank aimed at Asian Americans and immigrants to the U.S., has established a fund to support groups that serve communities affected by racist attacks and economic hardship during the pandemic.

The company is anticipating at least $175 million in losses in 2021, but its recent acquisition of Radius Bancorp will reduce funding costs and allow it to develop a full gamut of banking products that its CEO says will eventually yield big profits.

Biden’s CFPB and SEC choices move to the full Senate following mostly party-line banking committee votes; the bank is making a 10-year commitment to channel capital to benefit Black women.

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

Google bought Brian Brinkley's startup Zavers as part of its mobile wallet strategy. Today he heads QRails, where he's able to apply Google's experiences to a more welcoming market.

Slow settlement on traditional rails can cause dangerous delays in moving funds, says AppBrilliance's C. Eric Smith.

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, appears to have the edge.