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Public transit is recovering slowly from the pandemic, but ridership could increase if cities cater to a strong demand for contactless ticketing and digitized fare discounts, according to Visa.

Second-quarter profits fell 27% to $4.5 billion in what's shaping up as a tough quarter for many large banks. Yet investors responded favorably to Citigroup's unexpectedly large hauls from currencies, commodities and interest rates trading and its shuttling of corporate money over borders.

Regulators are poised to extract about $1 billion in fines from the five biggest U.S. investment banks for failing to monitor employees using unauthorized messaging apps.

Wells Fargo missed analysts’ earnings estimates as home lending slowed and the bank set aside more than expected for potentially soured loans as the Federal Reserve’s rate hikes started to cool the once-hot housing market.

Lawmakers and regulators alike appear increasingly unlikely to make significant progress in crypto policy before autumn, frustrating analysts and advocates alike.

The San Francisco bank reported a 31% increase in loan originations during the second quarter. Analysts are wondering whether it will be able to secure enough low-cost funds to avoid eroding margins.

Several groups raised concerns at a public hearing about the Canadian bank’s proposed acquisition of Bank of the West. They accused BMO of shortcomings in its mortgage lending to Black and Latino borrowers and said they won’t support the deal without the bank's firm commitment to help underserved communities.

In a letter calling for the Federal Reserve Board to establish penalties for officials who violate new ethics policies, Senate Banking Committee Chairman Sherrod Brown and other Democrats expanded their push for enhanced Fed accountability.

Credit quality at the largest U.S. bank by assets remains strong for now, but a top executive issued a warning about what may lie ahead.

The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, which levied the penalties, say Bank of America unfairly froze customer accounts in its effort to stop rampant fraud in a program that distributed pandemic aid through prepaid debit cards.