The Latest

Barclays said it will give a £1,200 ($1,460) pay raise to 35,000 of its U.K..-based staff, the latest lender to boost wages as the cost-of-living crisis deepens.

The top five had a combined portfolio of nearly half a billion dollars.

An accounting bulletin from the markets regulator is making it harder for bank regulators to give banks clarity in how they can provide crypto custody services. 

An independent investigation found no evidence of a pact with Wells Fargo’s attorney but omitted mention of the other big questions emanating from the case.

Firms owned by people of color have suffered more over the last two years than those owned by whites, according to a survey by the Federal Reserve Banks. Asian American-owned firms reported the biggest increase in financial challenges.

House Financial Services Committee Chair Maxine Waters is the second top Democratic lawmaker to dress down the megabank in recent weeks. Senate Banking Chair Sherrod Brown wrote a similar letter to Wells Fargo CEO Charlie Scharf in late May.

In a new interpretative rule filed Tuesday, the agency gave states a green light to expand on federal laws that protect consumers from unfair treatment by credit reporting agencies.

The retail giant ignored fraudsters’ use of its money transfers in consumer scams that cost victims hundreds of millions of dollars, according to the Federal Trade Commission. Walmart called the agency’s lawsuit “factually flawed and legally baseless.”

The combination of the Cornerstone League and the Heartland Credit Union Association is the latest in a series of mergers changing the national makeup of the credit union industry.

After being hard-hit financially by the pandemic and the surging inflation that followed, the generation entering adulthood is meshing their love of late-‘90s nostalgia — think cargo pants, bucket hats and disposable cameras — with a dose of old-fashioned frugality.