Organization Root Tag

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.

Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

Bill Demchak, in a panel hosted by Brookings on Tuesday, said that last year's bank failures wouldn't have happened if the Office of the Comptroller of the Currency had been the supervisor.

The chair of the House Financial Services Committee called the last resort lending facility "a generation behind" broader capital markets. He said modernization should be part of the Federal Reserve's response to last year's bank failures.

The ruling further complicates an already complicated area — the law's mandate around beneficial ownership information reporting.

Clients that have a brokerage account with either bank can invest in the exchange-traded funds tied to the spot price of bitcoin, as the currency's value sits at historic highs.

As founder of the card network's Center for Inclusive Growth, Singh brings financial resources, corporate tools and volunteer expertise to small businesses around the world.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

Anu Aieyengar, Global head of M&A at JPMorgan discusses her career and her outlook for M&A activity in the year ahead.