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Apple was accused by Affinity Credit Union of using its market power in the mobile device industry to fend off competition from other payment card issuers and charging them fees to boost its bottom line.

The comments from the agency's under secretary for domestic finance came as it issued a request for feedback on the risks and opportunities of digital assets.

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Octane Lending is among the financial companies that have begun adopting software that the startup FairPlay calls "fairness as a service" as regulators scrutinize banks' artificial intelligence-based loan decisions.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.

The combined institution would have more than $4 billion of assets and 36 branches across Oregon and Washington.

If the agency’s treatment of Bank of America is extended to the rest of the industry, it will cause widespread confusion and excessive regulatory burden.

By accumulating a network of specialized fintechs, the card brand can connect those vendors to banks and merchants that want to build new payment services.

Chris Conway will step down as president and CEO of Educational Systems Federal Credit Union early next year. He will be replaced by Chief Financial Officer Girado Smith.

Net interest income at Bank of America rose 22%, exceeding expectations even in a higher-rate environment. However, net income fell as expenses rose and investment banking revenues fell amid market tumult.