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Loomis, Sayles & Co. sued Citigroup, alleging the bank caused more than $70 million in losses while executing two separate trading orders that swamped the market.

Late-payment rates are rising at nonbanks that lend to people with lower credit scores. "We're probably entering a stretch where you're going to see a separation between those that are relatively good underwriters and those that are not," one analyst said.

Thomas Prame is leaving Old National Bancorp, which recently merged with his former employer First Midwest Bancorp, to join a smaller rival with aggressive growth plans.

An outage with the issuer's bill payment site unleashed a torrent of complaints on social media and to the Consumer Financial Protection Bureau — even after the company said it had resolved the issue.

A federal judge in New York vacated the guilty plea of a former Deutsche Bank trader who admitted to conspiring with others to manipulate the Libor interest rate benchmark, after an appeals court overturned the convictions of two of his ex-colleagues earlier this year.

Two laws signed Friday by President Biden extend the statute of limitations for fraud cases involving pandemic-relief programs. One of them would have a particular impact on Paycheck Protection Program loans made by nonbanks.

A vast majority of IT leaders at banks want to ditch passwords for something better and safer, and many tech vendors are moving in that direction already. But it's easier said than done.

Elba Arenas takes over from Jim Barbarich, who is planning to retire at the end of next year.

A snappy swipe-fee settlement, Synovus's new risk chief and more in banking news this week

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

Mark Burgess succeeded James Wileman as president and chief executive of the Anchorage-based credit union this month.

The Federal Reserve released its large bank requirements for 2023 based on the results from this year's stress test. Most of the banks tested will need to maintain or increase their tier one capital holdings.

Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.

Legal marijuana dispensaries typically can't accept regular payment cards. But after the pandemic drove broader adoption of online and in-app payments, consumers may finally be more willing to stop using cash when buying weed.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Early Warning Services brought back its Authentify moniker for a new digital ID service. It's not being marketed as a way to stop P2P fraud, but it should appeal to banks wanting to improve security for online transactions.

The very upstarts that gave the prepaid card issuer a run for its money in recent years are seeing their valuations fall and their belts tighten. At the same time, Green Dot CEO Dan Henry expects that it can help consumers manage their cash flow amid economic stress.

A warning for investment bankers who enjoyed lavish bonuses for 2021, when banks opened their wallets to reward busy dealmakers amid a war for talent: Don't expect a repeat this year.

Revolut Ltd. plans to increase its crypto headcount by 20% across Europe, the U.K. and U.S. over the next six months, a bright spot in the current digital-assets industry downturn and a rare sign of growth against the backdrop of a wider slowdown in hiring by tech firms.