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Barclays has long faced questions from investors about the viability of its Wall Street operations because the investment bank consumes more capital than other, higher-returning divisions across the firm.

The U.S. Justice Department and 16 attorneys general sued Apple Thursday, accusing the iPhone maker of violating antitrust laws by blocking rivals from accessing hardware and software for digital wallets and other features.

The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it's paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.

The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It's the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.

Federal Reserve Chair Jerome Powell said at the Federal Open Market Committee press conference Wednesday that a slower pace of reduction could help the central bank avoid shrinking its holdings further without disrupting the banking system.

The average annual cash bonus fell 2% to $176,500 in 2023, the lowest since 2019. The drop was far less dramatic than it was in 2022, when the average bonus slumped 25%.

Thomas Halpin, who heads global cash management for North America, talks about real-time processing, generative AI, central bank digital currencies and why the ISO 20022 messaging standard is cool.

It will take time for the banking industry to work through issues with CRE loans, Brian Moynihan says in discussing the aftermath of last year's banking crisis and New York Community Bancorp's recent warning about its exposure to troubled debt.

Credit card late fees are annoying, but that's why they work as a disincentive to prevent late payments. By making them much smaller, the CFPB will actually be working against the interests of low-income consumers.

Ant Group, the company behind Alipay, plans to set up independent boards for its international, database and digital technologies operations as it pushes forward the overhaul of its fintech business, according to a memo seen by Bloomberg.

Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.

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.