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The Consumer Financial Protection Bureau is examining whether artificial intelligence discriminates against minorities and other applicants. But GreenState Credit Union in Iowa says the technology can be harnessed to make lending fairer in underserved communities.

JPMorgan Chase said it financed and facilitated $285 billion last year toward its $2.5 trillion, 10-year commitment to initiatives that combat climate change and advance sustainable development. 

The Federal Reserve’s most hawkish official cracked open the door to discussing the first 75-basis-point interest rate hike since 1994, a move economists say would be a last resort in case inflation further spirals out of control.

Observers say that while Michael Barr may not be progressives' first choice to be the Fed's top regulator, he has gained their support given the importance of the post and the pressure of looming midterm elections. What his exact policy prescriptions and priorities in the post-Dodd-Frank world will be, however, is unclear.

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.

Interest in digital assets is on the rise following an executive order from the White House and a recent report from the Fed.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.

The White House says the president will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act, as the central bank's vice chair for supervision.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

The Pittsburgh bank had warned that business activity in its capital markets unit was slowing because of economic uncertainty stemming from Russia’s invasion of Ukraine. But its fee income declined by more than the company anticipated in the first quarter, and looming rate hikes from the Fed will no doubt cut into mortgage income further.

The 30-year average has risen by more than a full percentage point in a little over a month.

Despite better-than-expected trading results, Citigroup reported a 46% decline in first-quarter earnings stemming largely from soaring noninterest costs and a $1.9 billion provision for souring loans tied to Russia.

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

Banks have supported initiatives aimed at closing the racial equality gap but the industry risks undermining this by fighting new rules to gather demographic data on small-business lending.

President Biden is seriously considering Michael Barr, a Treasury Department veteran and an architect of the Dodd-Frank Act of 2010, as the Fed’s chief banking supervisor, according to people familiar with the matter.

A new Consumer Financial Protection Bureau lawsuit claims the credit bureau and the ex-leader of a key unit failed to comply with a 2017 order to stop misleading consumers about credit reporting and monitoring services.

The past two weeks have seen a flurry of deals wherein Truist, Capital One and others pitch their brand alongside professional teams and their stadiums.

Former Federal Reserve Vice Chair for Supervision Randal Quarles and former Fed Gov. Daniel Tarullo say the central bank's top regulatory role insulates the board from allegations of political bias. Otherwise, the agency and its staff have to account for their regulatory decisions.

"With ACH payments there's a latency in how they are processed; it can take two to five days. Things can happen," warns Silvana Hernandez, senior vice president of digital payments at Mastercard.

A prominent advisor to shareholders is taking umbrage at the special bonus grants to Goldman Sachs Group’s chief executive and a top deputy — a rebuke that comes at an awkward time for the bank as its stock turns in the worst showing among peers this year.