Organization Root Tag

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

Recent delays may be frustrating, but the Office of the Comptroller of the Currency isn't closing the door on financial technology companies. However, applicants will have to be patient, forthright about their business plans and willing to actively engage any state or federal regulatory agencies that the OCC consults.

Square is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from CEO Jack Dorsey.

Congress had been close to passing legislation to help banks serve cannabis firms. Now Democratic leaders have all but abandoned the effort, prioritizing a riskier proposal to decriminalize the drug.

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

The Reserve Bank of India says the card brand failed to comply with a requirement to store transaction details locally. The handling of payment information has become a point of contention between the Asian nation and American firms.

Sens. Sherrod Brown and Elizabeth Warren criticized Federal Reserve Chair Jerome Powell over reg relief policies instituted by the central bank, signaling that some progressive lawmakers may be reluctant to give him a second term.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

As the Federal Reserve mulls whether to establish its own digital currency, Chair Jerome Powell told lawmakers that cryptocurrencies designed to have the stability of bank deposits and money market funds should be regulated accordingly.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Bank of America expects interest income to rise as stronger borrowing outweighs the impact of low rates. The upbeat forecast is in contrast with remarks from JPMorgan Chase executives.

PNC’s recent acquisition of BBVA's U.S. operations won quick approval from regulators, but a recent presidential directive promises more scrutiny of such deals, according to CEO Bill Demchak.

The card brand is working with 70 cryptocurrency companies to meet consumer demand for paying in bitcoin and other digital currencies at the point of sale. It had little choice given that most retailers don't accept crypto directly and are in no rush to do so.

The organizations that received charters this year emphasize digital access and remote work, and aim to address the economic disparities highlighted by the pandemic and the nationwide wave of racial justice protests.

Wells Fargo’s average loans tumbled in the second quarter as consumers and businesses, buoyed by pandemic stimulus programs, refrained from more borrowing.

Fiscal restraint, the reversal of enormous amounts of monetary stimulus, smarter regulation and job retraining are among the public policy steps that could interrupt the long U.S. tradition of boom-and-bust cycles.

Income from stock trading and investment banking trounced analyst estimates in the second quarter and made up for weaknesses in the company's much bigger fixed-income and credit card divisions.

The company fell short of net interest income projections as loans and leases in the consumer banking unit dropped 12% from a year earlier. However, loan balances grew from the first quarter — the first sequential increase in a year.