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U.S. lawmakers' efforts to pass significant crypto legislation by the end of the year are on life support, leaving in place Washington's scattershot approach to digital coins. 

Citigroup plans to offer automatic-sweep products seven days a week as banks respond to clients' demands for higher interest rates on deposits and faster access to their cash.

The September Federal Open Market Committee meeting may provide a turning point in monetary policy. Brendan Murphy, head of global fixed income, North America, at Insight Investment will offer his thoughts about the meeting and what to expect going forward.

Legislation that would make it simpler for banks to work with cannabis firms is always just about to arrive. But it never does.

In global news this week, Societe Generale makes a fintech acquisition, Mastercard expands in Latin America, Argentina fuels crypto mining, and more.

The European Union is looking to exchange views on the development of crypto legislation with U.S. officials during next week's International Monetary Fund-World Bank annual meetings, as calls grow for a more coordinated global regulatory framework.

Block's BNPL subsidiary will now offer users six- and 12-month interest-bearing loans for bigger-ticket purchases.

The bank regulators have promised new guidelines for large regional bank resolution plans. Some say the move is overdue, but others say it doesn't go far enough.

Investment banks were ordered to pay $1.8 billion in fines last week for employees' unmonitored communications on messaging apps like WhatsApp. Experts say other banks could also be subject to such fines if they're not careful.

The Biden administration is methodically laying out a regulatory framework for crypto markets, but until that is in place it's allowing those markets to reap what they have sown.

Daniel D. Robb of Jonesburg State Bank takes over as chairman of the American Bankers Association, which elected officers and board members for 2022-23 at its annual convention.

The Society for Worldwide Interbank Financial Telecommunications said its new capability, which lets users track trades from order to settlement, will be broadly available next year.

KServicing, a SoftBank-backed small-business loan servicer, filed for bankruptcy after the company, which holds old loans made by the online lender Kabbage, was weighed down by allegations of overly lax lending under the U.S. government's Paycheck Protection Program.

Analysts are watching to see if more lenders join the ranks of First Northwest in Washington state and Orrstown Financial Services in Pennsylvania, which laid off staff or closed branches to offset rising wages and other expenses.

Richard Ostrander will serve as general counsel for the reserve bank and sit on its executive committee. He will also advise the Federal Open Market Committee.

E-commerce transactions will fall under the same requirements that have long applied to in-person payments, according to a rule change the Federal Reserve Board finalized this week.

In a report published Tuesday, the nonprofit Finance Watch estimates that the 60 largest global banks have about $1.35 trillion of credit exposures to fossil fuel assets.

HSBC Holdings is exploring a sale of its operations in Canada, the latest move to streamline the lender that is seeking to head off a call by its largest shareholder to split up.

Canadian Imperial Bank of Commerce named Chief Risk Officer Shawn Beber as the new head of its U.S. division and tapped Susan Rimmer to lead the company's global corporate and investment banking franchise.

Centric named Rodney Parker as its new CEO. He succeeds Chris Craighead, who retired after 30 years as the credit union's leader.