The Latest

Cross-border payments, even small ones, take days to clear, cost 5% to 10% of the payment amount, and can be baffling to the consumer. Zenbanx, TransferWise and Ripple and other startups are trying to change this.

Morgan Stanley will pay $63 million to settle a series of government lawsuits claiming the bank misrepresented securities it sold to banks that later failed.

Trade groups for both industries put aside differences to seek congressional signatures on a letter urging FASB to reconsider its controversial proposal requiring early-stage loan-loss provisioning.

Fannie Mae and Freddie Mac unveiled an appeals process Tuesday that will allow an independent arbitrator to resolve disputes between lenders and the government-sponsored enterprises over loan repurchase demands.

A Federal Reserve task force issues criteria for faster payments initiative, part of the long road to build a framework to securely accommodate near real-time processing for digital commerce.

First Choice Bank in Cerritos, Calif., has promoted Nicole Swain to the newly created position of chief banking officer.

In a presidential race dominated by populists and even an aging socialist, the establishment candidates that bankers prefer — Hillary Clinton and Marco Rubio — had a good night in Iowa on Monday. But the race is far from over, and the Iowa results showed some ominous signs as well.

Russian billionaire Oleg Boyko’s private- equity company bought a stake in Germany’s Spotcap as the online lender backed by Rocket Internet SE secured its biggest financing to date.

Lawmakers in Connecticut want to curb deceptive and abusive collection tactics being used by banks and third-party collectors but details on how to proceed were sparse.

Fourth-quarter profit tanked at CIT Group in New York, as the costs to dismiss former OneWest Bank executives, and losses tied to the sale of Brazilian businesses weighed on results.