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The Alabama-based bank, which reported $135 million in check fraud losses during a six-month period, says that it had changed the period of time it holds a deposit in an effort to become more customer-friendly. "We opened the door too wide, bad people came rushing in, and we didn't close the door timely enough," said CFO David Turner.

Bank investors hope they can party like it's 1995, when the U.S. economy stayed healthy even after aggressive Federal Reserve rate hikes. But a few analysts are a bit more cautious over whether banks' loan books will hold up as well this time.

The Treasury's Financial Crimes Enforcement Network launched its new database identifying U.S. business owners pursuant to the 2021 Corporate Transparency Act Monday, giving existing companies one year to file reports on their true owners and new companies 90 days after their creation to comply.

The bank's cross-border transaction service opens a new lane for customer acquisition in an increasingly competitive niche.

Projects are underway at a number of payment firms including PayPal, Circle and Ripple. Location and regulation will also play a big role in what the market looks like in the next year.

Making it easier for consumers to switch between competing banks will increase competition, resulting in major benefits for account holders.

Though new bank formation slowed somewhat in 2023, with only five de novos opening, the stage appears set for a more active year in 2024 with a number of groups working toward a charter.

2023 saw a recovery in ridership and signs of progress for contactless boarding. But there's still lots of work to do.

Executives at America's largest banks are making rosier predictions about the financial health of U.S. households than they were a year ago, when their forecasts proved to be overly pessimistic.

India softens stance on payment regs; a Dutch neobank turns to gen AI; and more.

After a year marred by the biggest US bank failures since the 2008 financial crisis, the nation's largest lender is on familiar footing — scooping up a rival, reeling in its clients and minting record profits along the way.

JPMorgan Chase and Citigroup were among the banks that voluntarily reported new information this year about the impact of their operations on climate change. The additional disclosures came in advance of new regulations that are expected in 2024 from the Securities and Exchange Commission.

Despite tougher economic conditions, BNPL lenders are driving growth by expanding to new audiences and checkout channels, as well as fine-tuning proprietary risk-management models.

Morgan Stanley said it expects to record its highest-ever income from Japan as bets on a shift in the nation's monetary policy fuel a trading revival.

The CFPB needs to think bigger — much bigger — when it comes to writing rules for Section 1033 of the Dodd-Frank Act.

The Investment Company Institute predicted a dire situation for bank loan funds should the SEC finalize an amendment that would reclassify many of these funds as illiquid.

America First Credit Union wants to grow 7(a) lending, but its expansion prospects depend on hiring more experienced lenders. That's proved a common challenge for other institutions as the Small Business Administration program continues to grow in popularity.

Citigroup, Barclays and Morgan Stanley are just a few of the firms joining JPMorgan in what suddenly feels like a rush into direct lending.

Of the 11 women on our list, only one – Citi's Jane Fraser – leads one of the U.S.'s 50 largest banks.

Banks large and small are selling some or all of their insurance subsidiaries, enticed by the high prices they're being offered. Here's a rundown of the deals that were struck in 2023.