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The core function of the Federal Home Loan Bank System — advances to member institutions — plummeted 20% last year to $350 billion, its lowest level in 15 years. That erosion of purpose is emboldening critics, who say the Home Loan banks need to change or face irrelevance.

Ryan Goldberg succeeded Mark Shobe, who had led the institution since 2000.

Robyn Luhning, the bank’s head of environmental and social risk management, takes the position at a time when financing for the fossil-fuel industry faces scrutiny. Other large banks have created similar roles in recent years.

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.

The U.S. is poised for recession most likely in 2023 and bank stocks are expected to fall behind the broader market, according to 525 respondents to the Markets Live weekly survey.

The company provides incentives through the online statements of many large card issuers — but it faces more competition than ever from fintechs and "super apps." To stay in the game, Cardlytics is scooping up more data to sharpen its pitches.

Barclays is developing a global private credit strategy, according to several people familiar with the situation, seeking to take part in the fast-growing $1.2 trillion asset class.

The bank plans to separate the two roles “upon the next CEO transition,” it said in a proxy statement Monday.

Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.

JPMorgan Chase will have to face claims that it made 160 unwanted calls to a cardholder in violation of federal law, a federal judge in Pennsylvania said.