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The Federal Reserve imposed the restrictions after conducting supplemental stress tests tied to the pandemic. But Vice Chair of Supervision Randal Quarles says it is now clear banks would have had sufficient capital regardless.

Dana DeFilippis will take the helm at the Chalfont, Pa.-based credit union next month. She succeeds retiring CEO David Whitehead.

Private equity firm Advent International is merging portfolio companies Transaction Services Group and Clearent, paving the way to another payments giant.

Bank of America cut some of its staff in the global banking and markets division this week. The latest cuts mark an end to BofA's pledge not to eliminate any jobs in 2020 as the global pandemic flared.

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

JPMorgan Chase is stepping up its search for acquisition targets as competition intensifies from financial technology firms and other new rivals.

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.

A new report from CUNA Mutual Group shows just how much COVID-19 and the economic slowdown impacted the credit union industry in 2020.

Financial services firms, from traditional banks to fintech payment processors to data companies, need to beef up their compliance teams, raise standards and improve education to ensure teams are ready to tackle the latest types of financial fraud, says ACAMS' Rick McDonell.

Early Warning's person-to-person payment network predicts that real-time settlement through The Clearing House's RTP network will enhance its appeal.