Banks and Congressmen alike see U.S. regulators' version of Basel III as overly stringent for the securitization market.

In a bid to help phase out passwords, Mastercard is launching an authentication service that enables consumers to confirm their identities with fingerprint and facial recognition technology when signing in to accounts.

Small banks appeared to notch a big win with the exemption from the Consumer Financial Protection Bureau's overdraft proposal. But some experts are questioning the CFPB's rationale, given research that shows small banks' overreliance on overdraft revenue.

The credit card issuer said it's "cautiously optimistic" about its borrowers' financial health, with charge-offs expected to rise not much further than pre-pandemic levels. The upbeat outlook contrasts with a key competitor's guidance of significantly higher losses.

The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.

The Salt Lake City bank says that it doesn't expect major losses, even though its problem loans grew at the end of 2023.