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The product will transform customers' deposits into digital tokens that can be sent instantly anywhere in the world, the company says.

UBS's schedule, which targets the integration to be finished by the end of 2025, is very ambitious and not certain to be met, according to sources.

The unit, which includes a $10.2 billion portfolio of private student loans, could fetch interest from alternative asset managers or rival student-loan platforms.

Kristine Braden, the head of Citigroup's Europe unit, is leaving the U.S. lender amid Chief Executive Officer Jane Fraser's comprehensive reorganization of the top management structure to boost returns.

Former Deutsche Bank investment banker Rashawn Russell, who has denied defrauding investors in a cryptocurrency fraud, appears ready to change his mind and plead guilty to fraud charges, court records show.

Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.

The Wall Street firm terminated several leaders of the unit who communicated on unauthorized channels and didn't comply with an internal review.

The five-year deal puts Citizens' brand name in front of New Yorkers, as the bank continues to expand after buying HSBC's East Coast branches as well as Investors Bank last year.

Regional banks had a rocky time after three banks failed in 2023. Van Saun discusses his strategy for Citizens with Editor-in-Chief Chana Schoenberger.

A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.

The bank aims to use new tech to make account-to-account transfers for merchants an easier option than credit cards.

Any comprehensive overhaul of the Federal Home Loan Bank System will have to navigate a dense thicket of countervailing regulatory and stakeholder priorities.

Recent Arizent research shows that having appealing digital spaces is one of the most important factors for customer experience at banks.

More than half of investment firms for the world's superrich seek opportunistic direct deals based on attractive valuations, Citigroup found in a survey of 268 family offices representing $565 billion in net worth.

The securities have been hard to sell in part because the bonds will probably pay below-market coupons for years.

Franklin Templeton has joined fellow asset manager powerhouses Fidelity and BlackRock in the race to win approval to offer the first U.S. exchange-traded fund that invests directly in bitcoin. 

The proposed rule would make it virtually impossible for lenders to enter into routine hedging transactions.

The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.

The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward.

Brokered deposits had nothing to do with this year's bank failures, and regulators shouldn't pretend otherwise.