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The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

PayPal hopes to demonstrate its coin's utility by using it to take a stake in a company called Mesh.

Some of private credit's biggest lenders argue such trading would undermine this advantage by forcing them to constantly value the assets on a marked-to-market basis, rather than at their discretion, inviting volatility.

The Financial Crimes Enforcement Network issued an alert Thursday on avoiding business relationships with sanctioned Israeli settler groups in the West Bank, an effort that comes as the White House is pushing sanctions on foreign actors involved in destabilizing the region.

The Birmingham, Alabama bank cut down its workforce across divisions as higher interest rates put pressure on its business.

With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.

Banks can choose to only receive transactions instantly, and it's the most popular choice. Simply preferring to get paid faster isn't the reason.

The Treasury Department's Financial Crimes Enforcement Network fined a New York credit union employee $100,000 Wednesday in connection with a scheme to launder $1 billion using armored trucks and the credit union's Fed master account.

The Office of the Comptroller of the Currency fined City National Bank $65 million for a litany of risk management problems, including inadequate management of third-party risks and fraud risk management.

Deutsche Bank plans to cut 3,500 jobs over the coming years as Chief Executive Officer Christian Sewing seeks to make good on a pledge to lift profitability and return more money to shareholders.

An increase in deposits in recent months is prompting banks to seek out high-quality fixed-income assets to deploy money, market watchers say. The return of Wall Street buyers has pushed spreads well below year-end levels, jump-starting CLO creation and ginning up demand for loans.

The central bank massively increased the money supply during the pandemic. We paid the price with high interest rates throttling the real estate industry.

In this month's roundup of top banking news: Truist Financial announces plans to shutter 4% of its branch network, Fiserv pursues a special-purpose bank charter, Wells Fargo distributes a $1,000 bonus to lower-paid employees and more.

In this month's roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.

U.S. consumers remain healthy despite several factors that weigh on their spending, said CEO Michael Miebach.

The company declined to give specific details on how many jobs were affected. It has sought to rein in costs amid efforts to boost earnings.

PayPal, which employed around 29,900 workers at the end of 2022, announced a similar round of cuts last January.

The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.

The institution is investing more in analytics as it faces pressure from rival banks and fintechs using automation to attract cost-conscious treasurers.

Jim Esposito, one of Goldman Sachs Group's most senior executives, is leaving after almost three decades with the firm.