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Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.

Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.

Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.

While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.

By pairing its real-time transfer app with China's UnionPay card, Visa is pursuing business in the huge country, where shifting regulations create hurdles for outside companies.

Two years on from a federal report recommending the creation of a resolution fund to guard against disorderly bankruptcies, concentration among nonbank mortgage companies has only increased. Congress must take action to avoid a crisis.

A group of Senate Democratic lawmakers warn proposed rule change would handcuff regulators from stopping risky bank behavior before it causes financial harm.

Treasury Secretary Scott Bessent appeared to urge the crypto industry to deal with bankers in the yield stablecoin issue during his regular testimony in the Senate Banking Committee Thursday.

American Banker's 2026 Predictions report finds that nonbank entities and check fraud are major threats to local banks in the coming months.

This month, Bank of America plans to unveil new incentives for cardholders with higher account balances. Reworking the rewards program is one lever the firm is pulling in its effort to lift the annual profit of the consumer unit to $20 billion by the end of the decade.

Noelle Acheson argues that growing demand for dollar-denominated stablecoins is going to give the Treasury Department increasing influence over the direction of the U.S. economy, perhaps at the cost of the Federal Reserve.

The Spanish banking giant is accelerating its U.S. growth plans with the pending acquisition of Webster Financial in Connecticut. The combined entity will be the second-largest foreign-owned bank operating in the country.

The latest directive, which takes effect in March, allows only U.S. citizens and nationals to seek government-guaranteed financing. It's drawing criticism from Democrats in Congress, small-business advocates and some lenders.

The payment company opened a new office in Dublin to battle rivals like Adyen, Stripe and PayPal.

In a contentious House Financial Services Committee oversight hearing, Treasury Secretary Scott Bessent sidestepped questions on the Trump family crypto conflicts of interest and inflation with pugnacious responses to Democratic lawmakers' questions.

Treasury Secretary Scott Bessent is slated to testify in the House Financial Services Committee Wednesday morning as part of the committee's regular oversight of the Financial Stability Oversight Council.

The Spanish banking giant, which has been trying to grow its U.S. business, plans to acquire the Connecticut-based parent company of Webster Bank.

At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.

HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company's key metric.

Two large proxy advisory firms exert extraordinary and pernicious influence on public companies in the U.S. Congress must act to protect American businesses and the investors whose future relies on them.