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The decision does not end the digital-asset bank's goal of gaining access to the central bank's payment system, but it does make its road to approval more difficult.

JPMorgan Chase has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study. 

Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

Senate Democrats and banks want to subject industrial loan companies to Fed supervision, but even without legislation observers say the FDIC is skeptical of new applications.

Federal Reserve Vice Chair Lael Brainard is a top contender to become the head of the White House's National Economic Council, according to people familiar with the deliberations.

Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

Treasury Secretary Janet Yellen advised Congress that her department is deploying an additional accounting maneuver to avert breaching the federal debt limit.

The Federal Reserve's quantitative-tightening program risks being propelled toward an early end as U.S. politicians bicker in Washington over raising the national debt limit, according to some economists and bond market participants.

Working appraisers say government efforts to curb discrimination are pressuring them to inflate values, putting banks and borrowers at risk.

The Consumer Financial Protection Bureau sent a memo asking employees to take a survey that will help the Office of Personnel Management formulate a coordinated governmentwide policy.

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

The declining credit quality included more borrowers with higher credit scores falling behind on their credit card payments. But executives said the increase remains within expectations as it continues seeing "very linear normalization" in credit.

The Wall Street Journal reported the Fed is investigating Goldman Sachs' Marcus division, the company's effort to reach U.S. consumers that has been scaled back. The New York bank's stock fell 2.5% after the news.

Speaking at an event hosted by the Council on Foreign Relations, Federal Reserve Gov. Christopher Waller said the Federal Reserve has a long runway for its balance sheet reduction.

JPMorgan Chase kept Chief Executive Jamie Dimon's total compensation at $34.5 million for his work in 2022, a year in which the firm's profit fell by almost a quarter and the stock notched its worst annual performance in over a decade.

A proposal by the Consumer Financial Protection Bureau to rein in credit card late fees could result in changes to a "safe harbor" that would favor consumers rather than financial institutions.

Cleveland-based KeyCorp posts a subdued profit in the wake of a loan loss provision that was more than six times greater than the level of fourth-quarter net charge-offs.

In a speech delivered Thursday afternoon, the Federal Reserve's vice chair said she does not see a wage-price spiral driving inflation, but rather a "price-price spiral."

The U.S. government reached its limit on how much money it can borrow on Thursday, teeing up a high-stakes battle in Congress.