The Latest

The Federal Reserve on Thursday approved Bank of America's model for assessing its risk-based capital requirements under Basel III's so-called "advanced approaches" process, making it the final U.S.-based global systemically important bank to have its own model approved.

Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.

NexTier in Butler, Pa., has agreed to buy Eureka Financial in Pittsburgh.

ShopKeep and MasterCard have entered a marketing partnership that includes pushing merchants to adopt the EMV standards.

The New York licensing process for virtual currency companies is stoking fears that firms which do apply could inadvertently open themselves up to prosecution.

SIM card and EMV technology provider Gemalto is working with Samsung to help the telecom company introduce Samsung Pay in Europe.

Global money transfer provider WorldRemit has launched a service to enable customers in 52 countries to use its application to send money to all Bosnian and Croatian bank accounts.

More than a year after CUNA declared that credit unions had surpassed the 100 million-member mark, NCUA today confirmed it, citing that membership at federally insured CUs rose to 101 million members in the quarter ending June 30.

Software problems have recently plagued Bank of New York Mellon, HSBC and the New York Stock Exchange. Thorough testing and new quality standards can help financial institutions weed out weaknesses in their code that could (literally) break the bank.

DCB Financial has agreed to sell its headquarters in Lewis Center, Ohio, for $8.2 million.