Organization Root Tag

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis.

PayPal released a survey of online small and medium-sized merchants that expressed caution about the upcoming holiday season, as 70% do not plan to hire new or rehire furloughed staff.

The agency finally detailed how it may implement congressional requirements to collect information on credit to small businesses. Lenders below certain asset thresholds and that make few business loans could be off the hook.

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.

The two biggest U.S. banks trimmed expectations for net interest income as low rates and tepid loan growth weigh on revenue.

JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years.

Originations in the third quarter are on pace to double what the Detroit lender reported a quarter earlier, adding more high-yielding loans to the balance sheet.

Banks are augmenting their use of masks, distance markers and the like with apps to notify employees of exposure to infected individuals and technology meant to make branch visits safer.

With the Office of the Comptroller of the Currency considering a special charter for payments firms, a state regulator group said large money transmitters can opt for the “one company, one exam” program next year.

The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums.

With the Office of the Comptroller of the Currency considering a special charter for payments firms, a state regulator group said large money transmitters can opt for the “one company, one exam” program next year.

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking.

Square is entering the earned wage access (EWA) fray, but it’s taking a tailored approach that aims to drive transaction volume within its Cash App.

JPMorgan Chase's CEO says he fears productivity is slipping and that workers, particularly younger ones, are feeling alienated.

The reductions will affect less than 1% of Citi's global workforce, and with recent hiring the overall headcount probably won’t decline, the company said.

Embedded finance isn’t an intentional attempt to overthrow banking; most companies are just trying to meet customers where they’re at when it comes to payments, says Kunai's Sandeep Sood.