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The founder of a cryptocurrency research firm was accused by the Securities and Exchange Commission of promoting an initial coin offering without disclosing that he had been paid $5 million to do so.

After a bruising proxy fight that led to the ouster of the Philadelphia bank's former chairman and CEO Vernon Hill, remaining stakeholders find themselves in disagreement over a potential sale of the the company.

Late penalties on credit cards are set to rise 9% in 2023 under current rules that allow for increases tied to the Consumer Price Index. But Consumer Financial Protection Bureau Director Rohit Chopra says he wants to issue a regulation that could undo that inflation-related exception to limits on fees that banks may charge cardholders.

The $10.7 billion-asset credit union said 42 employees were terminated, primarily in commercial banking and mortgage lending-related positions, after the refi business "dried up."

In the coming midterm elections, bankers ought to pay attention to candidates for state treasurer, controller and other historically low-profile offices.

The bank's deal to acquire Renovite adds six new digital payment products. It is the latest in a series of investments designed to close the innovation gap created by fintechs.

The upstate New York bank took criticism last year over layoffs tied to its acquisition of People's United Financial. Connecticut's attorney general now has additional questions about both the job cuts and problems with a recent systems conversion.

Credit Suisse is considering reviving the First Boston brand name as the Swiss lender seeks ways to boost the fortunes of its beleaguered investment bank, according to people familiar with the matter.

Verve has offered its pumpkin spice loan since 2014 as part of a full menu of themed products.

A Texas city declined to award a bond deal this week to Citigroup even though the bank submitted the most competitive bid, showing how Wall Street is still contending with a Republican-backed state law that punishes financial firms for taking on gun policies.

The Minneapolis bank extended its purchase agreement until the end of 2022, six months after the deal's original targeted closing date. Large-bank acquisitions have been drawing closer regulatory scrutiny during the Biden administration.

A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.

Comerica and Oakworth plan new hubs, Goldman's payments venture and more in banking news this week.

The Office of the Comptroller of the Currency has stopped requiring the bank to provide quarterly progress reports about its efforts to mitigate cloud computing risks.

The payments giant has sponsored a patch on the NBA team's jerseys since 2018.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

Already the nation's largest Small Business Administration lender by dollar volume, the Wilmington-based bank plans to add more than 200 employees and spend $25 million on a new building.

The $536 million-asset credit union said the investment will "improve lives and close the racial and gender opportunity gaps" in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.