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Credit Suisse Group executive Yves-Alain Sommerhalder is leaving, adding to top-level departures as the firm seeks to get back on its feet amid a massive restructure.

Custodia's lawsuit with the Federal Reserve over master account access is poised to advance to trial. Regardless of the outcome, the case will be consequential.

The agreement, which still needs court approval, should help what remains of the online small-business lender as it moves through bankruptcy proceedings. After Kabbage emerged as a major Paycheck Protection Program lender, some of its key assets were sold to American Express.

In this month's roundup of American Banker's favorite stories: JPMorgan Chase moves third parties away from screen scraping, Wells Fargo launches its new virtual assistant, bank CEOs predict a return to office within the next three years and more.

Affinity Federal Credit Union in Basking Ridge said Kevin Brauer will succeed John Fenton as president and chief executive on Jan. 1.

The proliferation of mobile banking and online payment services like PayPal is one of several reasons more consumers have joined the financial mainstream, according to the FDIC's latest report on Americans' access to banking services.

Wage transparency is seen as being particularly important for women, who are often paid less and could benefit from information that helps them negotiate higher salaries.

The bureau said it wants additional comment on business practices at technology giants, including whether companies are adhering to key consumer protections.

The bank is tapping shareholders — including new investors led by the Saudi National Bank — to help fund a restructuring that includes slashing Credit Suisse's workforce by 17% and breaking up its investment banking unit after years of missteps and steep losses.

A Justice Department probe into a controversial corner of the crypto world — Tether — has been struggling to reach a conclusion. Now a new team is taking a crack at investigating whether executives behind the popular stablecoin committed a crime.

The board of the Federal Deposit Insurance Corp. is required by law to have a member with state bank supervisory experience. That perspective has been absent for too long.

The Dutch payment company is offering merchant loans, a product that's become a staple of firms like Block and PayPal that have been luring entrepreneurs away from traditional financial institutions.

Tom Hayes, the former UBS Group trader convicted in the U.K. over the Libor-rigging scandal, had a criminal indictment against him dismissed by a New York judge.

Almost 70% of bank chief executives surveyed by KPMG said they envision fully in-office working environments within the next three years. That is close to double the average of other white-collar industries.

A federal judge in Wyoming said the scope of the lawsuit could change but that he expects it to proceed. It would be the first master account challenge to go to trial.

Protesters blocked traffic around JPMorgan Chase's New York City offices Friday morning, calling for Gov. Kathy Hochul to use a tax on the wealthy to fund climate measures. 

Citi unit backs fintech rewards, Mastercard's multinational score and more in banking news this week.