Organization Root Tag

Orders on the NASDAQ exchange were unable to execute early Monday morning because of an error with the exchange's price discovery tool. The error has since been resolved.

Stephanie Cohen's exit adds to the dwindling ranks of senior women at the firm as Chief Executive Officer David Solomon has failed to make good on his pledge of correcting the lack of women in the firm's top ranks.

As nonbank entities expand their market share in many traditional banking services and are increasingly intertwined in the banking system, regulators' approach to leveling the playing field has been incremental and situational.

Samsung and Curve are setting the groundwork for a return of smart rings and other devices that can turn top-of-wallet cards into a fashion accessory.

The Consumer Financial Protection Bureau is preparing to pick winners and losers in the consumer lending market, stifling innovation and curtailing freedom of choice.

The Paris court of appeals ruled against Bernard Mourad, saying the bank's cash and shares incentive programs "sought to ensure his loyalty in the long term." The judges said they were distinct from his performance compensation — covered by his salary and discretionary bonus.

The Federal Reserve and the Office of the Comptroller of the Currency both cited the nation's largest bank for having "inadequate" policies around firm and client trading activities.

Federal Reserve officials have hammered home the importance of bank readiness to borrow from the discount window. Getting banks to actually do so may require the Fed to make structural improvements to the system.

Analysts estimate the probe, which remains unresolved, could lead to a fine of between $500 million and $1 billion, and Toronto-Dominion has already said it is spending hundreds of millions of dollars to improve its risk and control infrastructure. 

The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.

TD Bank is among the latest to support Tap to Pay, which allows clients to accept contactless payments on their personal smartphones. Through its investment in Autobooks, it enables others to do the same.

"Don't fight the Fed" is the mantra of investors. But, when the Fed does not allow banks to meet the needs of their communities and shareholders through unfair regulations, like the politically motivated CRA final rule, bankers have no choice but to go to court to seek regulatory justice.

Here's how the former regulator thinks Fannie Mae and Freddie Mac could exit conservatorship and where he sees the residential market headed this year and next.

The rule updates requirements for how systemically important clearing networks prepare for and respond to operational risks.

In unrelated initiatives, the two companies are extending their use of open banking to create deeper client relationships.

The Senate Banking Committee for the second time has advanced Ron Borzekowski's nomination to lead the Office of Financial Research in the Treasury Department. The nomination languished amid partisan opposition last year.

The enforcement action involved problems with the Japanese-owned Union Bank's information security and operational risk controls.

The Columbus, Ohio, regional bank will focus first on Dallas before venturing statewide. Its move into the Lone Star State comes three months after announcing a similar initiative in the Carolinas.

Net income at the nation's more than 4,000 banks dipped markedly in the final quarter of 2023, though for the full year it exceeded pre-pandemic averages. Deterioration in commercial real estate and credit card lending is a concern, FDIC Chairman Martin Gruenberg says.

During a contentious exchange on his second day of congressional testimony this week, the Federal Reserve chair drew a line between the central bank's response to last year's bank failures and its current capital proposal.