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The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability.

Rakuten Inc. plans to raise 242 billion yen ($2.2 billion) by selling shares to investors including Tencent Holdings Ltd., Walmart Inc. and Japan Post Holdings Co., bankrolling expansions into AI, finance and mobile.

Large banks and aggregator sites, like Bankrate, tend to outperform regional and community banks, but smaller institutions can compete by publishing valuable content and creating web pages for individual branches.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four years ago.

The e-commerce giant's Amazon One palm-scanning can enroll consumers for building access and other use cases that require an ID.

There’s a theory in corporate America that women in positions of power don’t help other women. Citigroup Chief Executive Jane Fraser doesn’t buy it.

In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.

The legislation would extend the Paycheck Protection Program for two months and give the Small Business Administration more time to remedy persistent system glitches that have delayed the processing of thousands of loan applications.

There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts.

The agency's new leadership, which has already unwound numerous actions from the prior administration, said the January 2020 guidance implementing criteria for punishing firms that mistreat customers was “inconsistent with the bureau’s duty to enforce Congress’s standard.”

Nellie Liang, President Biden's pick to serve as the Treasury's undersecretary for domestic finance, didn't wait to be nominated before beginning the task of strengthening Wall Street oversight.

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

Wells Fargo is dropping the Abbot Downing name for managing ultrarich clients’ money as wealth and investment management head Barry Sommers remakes the unit.

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, appears to have the edge.

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them.

The nomination of Gary Gensler as chairman of Securities and Exchange Commission will now be voted on by the full Senate, but Rohit Chopra's nomination to head the Consumer Financial Protection Bureau remains held up in the Senate Banking Committee.

“Supervised firms that are not making adequate progress in transitioning away from Libor could create safety and soundness risks for themselves and for the financial system,” a Fed division director said.

JPMorgan Chase has hired former HSBC executive Jeremy Balkin as the new head of fintech and innovation for wholesale payments.

Goldman Sachs Group said it will commit $10 billion in investment capital over the coming decade to help address the disproportionate biases that Black women have faced for generations.

Citigroup is punishing investment firms that kept payments the bank accidentally sent to Revlon lenders by blocking them from certain new debt offerings led by the bank, according to people with knowledge of the matter.