The Latest

HSBC Holdings, Credit Suisse Group,  Barclays and Royal Bank of Scotland Group were fined 344 million euros ($390 million) by the European Commission for their involvement in a foreign-exchange price fixing cartel. 

The commissioner of the Tennessee Department of Financial Institutions said Orion Federal Credit Union's deal for Financial Federal Bank violates the Tennessee Banking Act.

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.

Toronto-Dominion Bank’s Canadian operation is getting a boost from a rebound in consumer spending and the continued strength of the country’s housing market. The company’s U.S. retail operations haven’t gained the same momentum as the Canadian division.

Formerly incarcerated people have long faced barriers to entering the mainstream financial system. Banks such as Old National and Bank of Hawaii are taking steps to help them, but the industry can do more, according to a new white paper from the American Bankers Association Foundation.

The company, which will keep the Square brand for its card readers, also supports music, cash transfers, Bitcoin trading and other financial services.

The agreement resolves a lawsuit over consumer loans that had annual percentage rates as high as 198%. Chicago-based OppFi denied allegations that it engaged in unfair lending practices.

Reps. Rashida Tlaib and Alexandria Ocasio-Cortez called on Treasury Secretary Janet Yellen and Fed Chair Jerome Powell to be more aggressive in using their oversight of the financial system to combat risks associated with a warming planet. Recent recommendations from the Financial Stability Oversight Council do not go far enough, they said.

Some of the biggest names in crypto will head to Capitol Hill next week as lawmakers weigh new rules for the white-hot asset class.