Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.

Facing greater competition from fintechs and an increasingly global economy, BofA has improved its business-to-business capabilities with open banking, 24/7 processing, support for the euro and other features.

Small businesses are finding that tap-on-phone apps — which allow smartphones to accept contactless payments without additional hardware — are solving some long-standing pain points.

The Rhode Island bank continues to build out a national consumer banking platform, while also reducing its exposure to higher-risk asset classes as the economic outlook darkens.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.