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The Bureau of Labor Statistics reported Tuesday morning that consumer prices rose 0.3% in December, with annual inflation stuck at 2.7%, lending credence to the Federal Reserve's cautious stance toward interest rates heading into 2026.

The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.

Financial markets took a tumble Monday morning after Federal Reserve Chair Jerome Powell announced that he was the subject of a Justice Department inquiry concerning the central bank's headquarters renovation. Lawmakers and former Fed officials decried the move as political intimidation.

Coastal Financial in Washington State has acquired GreenFi, one of its fintech partners. The move is designed to buy time in order to figure out the best long-term strategy for the struggling neobank.

Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants.

The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.

The 6-2 vote represents a win for the megabank, which has been fighting a nationwide push to organize its workers. Some 28 branches have voted in favor of unionization, while three have rejected unionization.

Despite attracting $2 billion in deposits, the cloud-native unit proved too expensive to maintain, prompting a strategic retreat by parent company SMBC.

Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.

The American Bankers Association and other groups contend the president's plan to cap credit card interest rates at 10% would drive consumers toward less regulated, more costly alternatives.