Organization Root Tag

Fraser and Chief Financial Officer Mark Mason are under pressure to show that, after repeated attempts by predecessors to restore investors' faith in the New York-based company following the 2008 global financial crisis, this time will be different.

The card networks are expanding their development of accelerators for women and minority-owned businesses, improving these entrepreneurs' access to venture capital.

Republican lawmakers spelled out concerns that the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important could circumvent the lawmaking process when it comes to cryptocurrency.

Citigroup recorded a $1.3 billion reserve build tied to its exposure in Argentina and Russia, it said in a filing.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.

A potential antitrust lawsuit may open iPhones to outside payment apps. But any bank that seeks to profit from the Department of Justice's moves will face a host of other challenges.

After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd's murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.

The CFPB's plan to block medical debt from appearing on credit reports will have damaging unintended consequences, limiting consumer access to both credit and health care.

The legislation is the latest step in California's effort to crack down on high-cost small-business loans.

The megabank will report a hit to its earnings this Friday from what one analyst called an "accounting nuisance." The charge, which BofA will make up over time, is due to the bank's use of a Bloomberg-developed interest rate index that gained little traction.

Treasury Secretary Janet Yellen said Monday the agency's Financial Crimes Enforcement Network has received over 100,000 entries for its beneficial ownership information registry, and will set additional regulations to address money-laundering risks in real estate transactions early this year.

The company is poised to report quarterly earnings this week that are expected to reveal revenue growth at seven times the average pace of its peers.  

The majority of those affected are in support functions, reflecting the removal of management layers and improved technology and automation capabilities, the company says.

These executives have taken charge at firms like PayPal, Discover and Early Warning Servcies during a volatile time for the entire industry.

Alberto Musalem, a finance professor with experience in both the public and private sectors, will take over the reins at the regional reserve bank in April.

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.

James Gorman, chair and CEO of Morgan Stanley, expressed optimism in an interview Wednesday that the proposed Basel III endgame capital proposal would "definitely change" before it is finalized.

In a crowded market for mobile payment apps, the search giant hopes to expand its support of driver's licenses, providing a key method of authentication for more financial services.

Germany, traditionally a cash-heavy economy, is seeing a rise in debit card use. Meanwhile, Indian regulators accuse several crypto exchanges of violating anti-money-laundering rules.