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Affirm, a three-year-old online lender that finances consumer purchases at the point of sale, has raised a $100 million in equity funding to help it boost distribution and develop new products and services.

Regulators struck down the living wills of five of the eight megabanks under evaluation, including JPMorgan Chase, Bank of America and Wells Fargo, requiring them to submit fixes to their resolution plans by Oct. 1 or face more stringent regulatory requirements.

Bank of America customers could soon interact with the bank via Facebook's Messenger app, the banking company said Tuesday.

JPMorgan Chase & Co., the biggest U.S. bank by assets, said first-quarter profit fell 6.7 percent on lower trading and investment-banking revenue and $479 million in wholesale credit costs.

As banks weigh blockchain-powered clearing and settlement solutions, the Royal Bank of Canada is looking at how the technology can bolster its customer loyalty schemes.

The word “tokenization” is being used far too broadly to describe a variety of payment security methods that perform different security functions.

WASHINGTON — The House passed a bill Tuesday that would create a new bankruptcy system for large financial institutions.

The Federal Reserve Board and Federal Deposit Insurance Corp. are set to give at least four megabanks a "harsh verdict" on their living wills, including JPMorgan Chase, according to an article by The Wall Street Journal, which cited "people familiar with the matter."

Profits soared at Bank of the Ozarks in Little Rock, Ark., thanks primarily to its expanding loan portfolio.

WASHINGTON — The Federal Reserve Board and the Federal Deposit Insurance Corp. should rethink the review process for big banks' resolution plans, the Government Accountability Office said in a report released Tuesday.