Organization Root Tag

Carol Juel, the bank's tech and operations chief, is pushing the use of agile concepts across the organization. Here's how her efforts are paying off in developing new products, speeding up team meetings and even helping employees schedule their kids' activities.

The IRS and Justice Department waged a successful campaign to crack down on UBS and other Swiss banks for facilitating tax evasion. Coinbase, Kraken and other crypto exchanges should take note.

The regional Fed bank said it was making the move “due to the recently elevated COVID-19 health risk level in Teton County, Wyoming.”

The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.

Critics of consolidation say the Federal Reserve and other agencies are too quick to greenlight bank deals. But the truth is banks face many hurdles to merger approval, and they don’t bother to apply — or take a hint and withdraw their applications — if they can’t clear them all.

The move means companies can give consumers options other than ACH transactions or debit cards to receive disbursements for insurance claims, health care or gig work.

The Biden administration will soon face tough decisions on whether to renominate Jerome Powell as Federal Reserve chair and whom to select for vice chair of supervision and other posts.

Victor Ngo, 33, has pleaded guilty to making a false statement to JPMorgan Chase when he said his medical marijuana dispensary was a wellness and fitness company.

The agency's new platform can reach a decision on Paycheck Protection Program loan reimbursement in minutes and has handled hundreds of thousands of applications since its Aug. 4 debut. The original process required a lengthy form.

The agency signaled during the Trump administration that it would approve more industrial loan companies following an extended freeze in new charters due to policy disputes. But the thaw will likely prove temporary now that the board's makeup has changed.

The bank's earlier decision to stop accepting applications for the consumer loan product had sparked a backlash among customers and lawmakers.

The Pittsburgh bank's commitment covers areas that include renewable energy, clean transportation and green buildings.

The measure bans banks that discriminate against gunmakers from entering into government contracts. Citigroup, which supporters of the law were targeting, has lost market share while Bank of America and JPMorgan Chase have gained ground.

The U.S. and its neighbor to the north are each developing frameworks to give consumers control over financial data and allow companies to transfer account information. A recently issued Canadian government report could influence efforts in both countries, analysts say.

The incident, which may have exposed customers’ account information to other customers, was caused by a technical glitch, the company wrote in a notice posted on a state attorney general's website.

Paul Camp will join the company in November to run its new Global Treasury Management division. Wells Fargo says the goal in combining its treasury management and global payments units is to improve service for clients doing business in multiple countries.

Yolande Piazza, the former Citi FinTech CEO who is now a leader in Google’s financial services group, explains why banks should accelerate their moves away from legacy computing systems and what the outcomes could be.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

The card network is bringing Verizon into its innovation lab to turn more phones into payment acceptance devices and use the growing number of consumer gadgets and digital assistants to better verify consumer identities.

The Boston-based firm plans to close its two midtown Manhattan offices, the company said. Its New York-based staff will work remotely or from buildings in New Jersey and Connecticut.