Federal Reserve Bank of New York

The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July.

Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020.

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

Goldman’s consumer unit, Marcus, has so far lost $1.3 billion; big lenders like JPMorgan Chase and Amex are making loans for small-ticket items like clothes and cosmetics.

Black and Hispanic owners of one-person businesses are more likely to be discouraged from applying for financing, and they’re less likely to receive financing when they do apply for it, than their white counterparts, according to a new report from the New York Fed.

The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies.

The Federal Reserve Bank of New York said two of its top officers are departing — including Simon Potter, who oversees its strategically vital trading desk — in a rare double exit from its senior ranks.

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.

The central bank issued an enforcement action against Sumitomo Mitsui Banking Corp. and its New York branch, citing deficiencies related to risk management and compliance with the Bank Secrecy Act.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

Recent data from the Federal Reserve suggests lenders are growing pessimistic about the credit environment. But is that a sign of trouble ahead, or just sound risk management?

New research from the New York Fed found that banks with more than $50 billion of assets originate more subprime car loans than small banks and credit unions do.

An effort to increase awareness of the transition to a new benchmark rate, and nudge banks to start preparing, is expected to intensify in 2019.

Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed.

Entrepreneurship among veterans has been declining over the past 20 years, according to a report by the SBA and the New York Fed.

Entrepreneurship among veterans has been declining over the past 20 years, according to a report by the SBA and the New York Fed.

Few small businesses in Puerto Rico applied for credit to finance recovery from hurricane damage. The reasons are instructive for financial institutions’ response to disaster recovery, the New York Fed says.

The Danish bank found more than $200 billion of suspicious deals at its Estonian branch; merchants can opt out of the deal as another case on network rules continues.

The agencies are looking into firm's forex pricing; the Fed is accused of stalling on a novel banking idea.