The Latest

A conversation with Penny Pennington, manager partner at Edward Jones.

Democratic leaders in Congress want to extend the interest rate limit applying to service members to all consumers. Republicans and industry representatives warn such a broad restriction will hamper lenders' ability to price risk.

Citigroup attracted close to $15 billion in net new money across its Asia Pacific wealth management business in the first six months of 2021, as hundreds of new hires helped the lender mark one of its strongest half years on record for the unit.

Two upstate New York credit unions are combining to create an $8 billion-asset institution, continuing a trend of bigger deals driven by a need to match the scale and technological capability of rival banks.

The legislation would establish a quick process for legacy financial contracts to swap in the Secured Overnight Financing Rate after the London interbank offered rate all but expires in 2023.

The longtime global head of liquidity and cash management will step down in the fourth quarter, HSBC announced in an internal memo. She will be replaced by Manish Kohli, Citigroup's global head of payments and receivables.

A hike in guarantee fees charged to lenders for the companies’ backing of loans was due to expire this year, but lawmakers now want to extend it to raise $21 billion for the bipartisan package.

The card brand has been pitching itself as a testing ground for central bank digital currencies, a payment portal for stablecoins and — most recently — an accelerator for startups.

In his new book “The Day the Markets Roared,” the noted economist Henry Kaufman gives a spellbinding account of the interconnected forces of political power, influence and the lessons the market learns from history.

The digital lender, which bought Radius Bancorp in February, still expects to record a full-year loss partly because of merger-related costs. But its stock price soared Thursday after it reported second-quarter net income of $9.37 million.