Merchant

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

A board member of the National Credit Union Administration urges vigilance against threats that many institutions ignore at their peril.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

A criminal group called Prilex has stolen millions in a scheme involving fake repair people installing malware on point of sale terminals.

Bipartisan legislation co-sponsored by Reps. Lance Gooden of Texas and Peter Welch of Vermont would require large banks to support at least one network other than Visa or Mastercard. Banking industry groups argue that it would help big retailers at the expense of consumers.

The breach was quickly followed by fake text and app messages to customers that appeared to come from the challenger bank.

Klarna Bank, months after announcing major job cuts and taking a $39 billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation, people familiar with the matter said. 

The Federal Housing Finance Agency soon will commence a review of the Federal Home Loan Bank System. For the process to be successful, the actual users of the system and the institutions that will be the most impacted by any changes to its mission, mandate or role need to add their voice to the conversation.