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Banks have long lamented the lack of transparency surrounding the government's use of suspicious activity reports, which are submitted to Fincen and passed along to the department.

From consumer credit to deposits to inflation, President Biden's move to excuse up to $20,000 in student debt per eligible borrower will have ramifications throughout the banking sector.

Four consumer organizations joined the Independent Community Bankers of America in opposition to the automaker's push for an industrial bank. They cited consumer privacy concerns and the risk of mixing commerce with banking.

The combination of Klamath Public Employees Federal Credit Union and Pacific Crest Federal Credit Union would create an organization with more than $335 million of assets and roughly 24,000 members.

The agency issued an interpretive rule earlier this month that said digital marketers must comply with federal consumer financial protection law. Banks will need to double down on compliance when engaging with these companies.

Kathleen Orovitz will be the Rhode Island credit Union's next president and chief executive, succeeding Gary Furtado, who announced his retirement in June.

Affirm must demonstrate it can maintain healthy loan growth to regain investor confidence when reporting earnings results Thursday, while Klarna unveils results next week.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

Wealthier Americans cut their credit card spending for a third straight month in July as inflation and market volatility weighed on sentiment, according to a study by Bank of America Institute. 

The state's lottery program has begun referring the 30,000 people a year who buy winning tickets to credit unions for financial advice.