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Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.

Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.

Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.

Citi's top executives are considering buying a bank, according to anonymous sources. Such a move would help ramp up deposits to help fuel other operations, they said.

The Federal Deposit Insurance Corp.'s Office of Inspector General said in a Thursday report that staffing cuts over the past year could strain supervision and the agency's response to a crisis.

The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.

American Banker data finds that regulatory clarity is the top ask from executives holding back on adoption planning.

Square, Block's merchant-focused business line, is trying to make more loans to seasonal businesses and first-time clients.

The bank-led companion to the Zelle P2P app faces a market where tech giants such as Apple have huge market share and a headstart of more than a decade. Paze exec Eric Hoffman told American Banker there is still a large addressable market for digital wallet users.

Citizens Financial Group President Brendan Coughlin discusses how AI is changing everything at the bank — from answering questions that previously went to call-center representatives to producing client reports at lightning speed.

From transaction to transaction, it is impossible for merchants accepting major credit cards to know with certainty what interchange fees they are being charged. Until that's fixed, the interchange wars will continue.

The Federal Reserve authorized a bid by Morgan Stanley to incorporate its German investment bank under its U.S. bank subsidiary. Three Biden nominees on the Fed board dissented, citing concerns that the move could heighten risks for the U.S.-based investment banking giant.

In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.

Federal Reserve Gov. Stephen Miran on Thursday detailed a plan to reduce the central bank's balance sheet, saying a smaller footprint would reinforce policy boundaries but could also bring more market volatility.

The Canadian bank laid out its rationale Thursday for opening new branches in California. The objective is to increase density in the Golden State, and subsequently achieve greater market share and higher returns.

The legislation would grant the Consumer Financial Protection Bureau, among other agencies, more oversight of airline-branded credit cards and rewards schemes.

PayPal, Stripe, Visa and Mastercard must be vigilant against offboarding clients for political or religious reasons, the Federal Trade Commission warned Thursday.

Financial security teams must treat AI like a junior analyst, requiring humans to own decisions and approve any responsive actions to threats.

The French crypto wallet company is expanding into the U.S. and growing its institutional enterprise offerings as new regulation opens opportunities for digital asset investment.

New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.