The Latest

Former Celsius Network Chief Executive Alex Mashinsky, whose once highflying crypto lender went bankrupt last year, was sued for fraud by the New York attorney general — the latest fallout from turmoil in the industry.

JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions as cybercriminals drained $272 million from its New York bank account.

The top five have over five billion dollars in total loans and leases as of June 30, 2022.

John Deese stepped down as president and CEO of the West Palm Beach credit union, effective Dec. 31.

Federal Reserve Bank of Kansas City President Esther George said the central bank should raise its benchmark interest rate above 5% and hold it there well into 2024 to bring inflation down.

The California bank, which owns the technology underlying the Diem stablecoin from Meta, said its deposits plunged 68% in the fourth quarter but that it has more than enough cash on hand to weather the storm.

Rising interest rates and the potential for weakening economic activity could result in moderating loan demand in the new year. Some bankers are already being more selective in their lending.

Minneapolis Federal Reserve Bank President Neel Kashkari compared the recent inflation to rideshare surge pricing, and called for a new approach to gauging and modeling price pressures.

Student borrowers in the U.S. are struggling to keep up with other kinds of debt even while college payments are frozen, and a surge in delinquencies is likely if the government's debt-relief plan fails, according to a new study.

As 2023 begins with an aura of economic uncertainty, businesses will seek a competitive advantage in how they accept and initiate payments, Dwolla COO Dave Glaser contends.