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The Federal Reserve Bank of Boston announced that Susan Collins, an economist currently at the University of Michigan, will be its new president, marking the first time a Black woman will lead one of the U.S. central bank’s 12 districts.

Martin Gruenberg, who became acting chairman of the Federal Deposit Insurance Corp. this week, has named a chief of staff, chief operating officer and general counsel. Their predecessors stepped down last week along with former Chair Jelena McWilliams.

The U.S. Treasury Department defeated a blue-state challenge to a rule that exempts buyers of high-interest loans from state interest rate caps.

Buffalo, New York-based M&T is the latest bank to announce changes that will save customers money but also reduce service-fee revenue.

R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.

Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.

Martin Gruenberg, who on Monday took the reins of the agency for the third time, vowed the Federal Deposit Insurance Corp. would set tougher standards for bank mergers, cryptocurrency-related activities and risk management tied to climate change. It will remain committed to CRA reform and support for minority banks, he said.

The U.S. Treasury Department is looking more closely at potential money laundering and the financing of terrorism through trading high-value art.

The work of creating a possible digital dollar inched ahead Thursday with research by the Federal Reserve Bank of Boston into the code that could eventually support such a currency.

The White House's pick for vice chair for supervision, Sarah Bloom Raskin, took the brunt of criticism from Republicans on Thursday. But it seemed to do little to sow doubt among the Senate Banking Committee's moderate Democrats about Raskin or fellow nominees Lisa Cook and Philip Jefferson.

Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

Republicans have knocked Sarah Bloom Raskin as too liberal on climate change and Lisa Cook as underqualified ahead of a Senate Banking Committee hearing Thursday. Meanwhile, a Democratic senator's illness threatens to stall nomination votes in the full chamber.

Congress waited too long to address the out-of-control housing market, leading to a crisis in 2008. Now, with home prices soaring and the government-sponsored enterprises' portfolios at record levels, lawmakers are in danger of repeating that mistake.

The "super app," which incorporates shopping, savings and other offerings, was well received by PayPal's users, but inflation and supply chain issues are likely to weigh on spending through the first half of this year, CEO Dan Schulman said.

Democratic Sen. Joe Manchin praised all five of President Biden's nominees for the Federal Reserve, an important signal for their confirmations in the 50-50 Senate.

January was a quiet month for traditional bank mergers and acquisitions, but some big-name firms still struck big deals. Here's a look back at the month's most noteworthy deals.

The Troy, Michigan-based bank is looking for companies already innovating across the various aspects of the home finance business.

Solomon jumped alongside Morgan Stanley’s James Gorman as the best-paid CEO at a major U.S. bank, followed closely by Jamie Dimon at JPMorgan Chase.

Michael Miebach told analysts that the card network expects earnings growth despite the economic impacts of the omicron variant and shipping delays. Mastercard does not have as contentious a relationship with the e-commerce giant as Visa does, he said.

The move could impact payments providers that rely on Apple’s iPhones to facilitate sales, such as Block’s Square, which dominates the market.