John Paul Dillon pleaded guilty to nearly $1 million in fraud related to COVID-19 emergency small-business programs, including the Payroll Protection Program and the Economic Injury Disaster Loan Program and a fraudulent loan application for a mortgage.

The longtime payments executive plans to maintain the company's alternative pricing as a way to address the growing criticisms of interchange.

The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.

Tighter credit standards and lower demand for business loans could make it harder for the Fed to achieve the soft landing it's seeking. Still, bankers are cautiously optimistic, noting that some businesses are using their savings to invest at a time when borrowing costs are high.

Roughly 55% of people sentenced for embezzling funds from 2007 to 2017 were women, according to new research. Some experts suggest women are more likely to hold accounting and money-handling jobs, while others say the trend is a reflection of biases by employers and law enforcement.

Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.