The Latest

The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.

The bank is connecting billers and brokerage accounts as it builds the case for instant funding. It also points to countries such as Brazil and India as models to follow.

The Securities and Exchange Commission, having already approved spot bitcoin ETFs, ought to follow through and grant the same approval to spot ethereum funds. Doing so would create a new surge of investment, with positive economic impacts.

Investors reacted negatively to New York Community Bancorp's divestiture of a $5 billion loan warehouse portfolio to JPMorgan Chase. The deal has triggered a debate about whether other banks might retreat from lending to nonbank home lenders.

CEO Kevin Cohee is convinced WiseOne, the AI companion OneUnited Bank rolled out late last year, can help customers make better financial decisions. Cohee also wants to see his passion for personal fiscal improvement play to a wider audience, through development of a nationwide financial literacy curriculum.

A presidential advisor for housing could be the solution for the "alphabet soup" of federal agencies that don't understand the industry, Mortgage Bankers Association CEO Bob Broeksmit said.

As part of a sweeping digital enhancement of its consumer payment cards, Visa will enable banks to issue an account as a credit, debit, virtual or Pay in 4 installment loan, based on the user's preference at the time of purchase.

The $116 million deal to acquire HMN Financial in Rochester would mark the 26th acquisition of this century for Alerus. The transaction is slated to close in the fourth quarter.

Titi Cole, CEO of legacy franchises at Citigroup, is stepping down in June to pursue opportunities outside of the financial services industry.

Companies such as Synctera, Treasury Prime and Unit are diversifying their services or enabling more direct contracts between banks and fintechs to survive in an evolving regulatory environment.