Organization Root Tag

The Canadian bank's stateside unit is hiring bankers and investing in growth, according to RBC Chief Executive Dave McKay, following a rough 2023.

Four years after its launch, the Mission Driven Bank Fund has ended its fundraising well short of its original $500 million target. Still, organizers are hopeful that the fund's performance will attract other investors to the sector.

U.S. Bank's merchant acquiring unit has expanded its partnership with embedded finance fintech Liberis to offer its small business clients working capital loans.The two companies previously offered loans in the U.K., Ireland and Poland.

Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.

Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.

The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.

The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.

Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes.

President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.

The deal will allow Workday to offer Chime Workplace, the neobank's suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.

A recent bargaining session was interrupted when union representatives learned that a Wells executive who wasn't in the room could hear what was being said. The bank maintains that it was a simple mistake involving a Microsoft Team meeting that should have been disconnected, but union officials aren't buying that story.

Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter.

The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.

A federal appeals court granted the government's request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.

Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.

Trump has yet to decide when Fannie Mae and Freddie Mac will return to the market in an IPO that regulator Bill Pulte says could top $1 trillion.

Trump's demand that Federal Reserve Board Governor Lisa Cook resign is the latest in his dangerous effort to assert control over the central bank. Fed independence is critical to the health of the U.S. economy and must be preserved.

Noelle Acheson writes that new blockchains from Circle and Stripe are about more than customization and control over the features. They're about redistributing power across the payments landscape

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

The Charlotte, North Carolina-based bank, which is focusing its growth push in the Southeast, is also planning to renovate 300 existing offices as part of an effort to attract more mass-affluent customers.