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Rakefet Russak-Aminoach, who led the Israeli bank for seven years, now funds and helps build fintechs that work with other fintechs and banks.

Deutsche Bank's management board agreed to take a financial hit after criticism from regulators of widespread use of private communication channels among staff via applications such as WhatsApp.

The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

A recent report found that less than 5% of challenger banks are breaking even. Will these startups be able to achieve profitability before investors’ patience wears thin?

The legislation, sponsored by Rep. Carolyn Maloney, D-N.Y., is said to have been withdrawn from consideration by the House Financial Services Committee because it lacked the necessary Democratic votes to pass.

Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of the bank’s expansion beyond its Manhattan base.

Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.

Federal Reserve Chair Jerome Powell said the Board of Governors has a limited role in determining which firms are granted master accounts, an emerging point of contention between Congress and the central bank. 

In global news this week, Walmart and Payoneer team up for U.K. e-commerce, metaverse banking advances in Italy, Stripe expands its global bank transfer footprint, and more.

The Consumer Financial Protection Bureau issued a proposal that could ultimately lead to tougher limits on what banks and other issuers charge cardholders for late payments.

The Government Accountability Office said that examiner guidance at the Office of the Comptroller of the Currency didn’t take into account new statistical methods to uncover potential redlining.

Bank of America is rolling out a host of travel sweeteners to ultra-high-net-worth customers. It’s partnered with the luxury-travel firm Indagare to offer the experiences to members with more than $10 million in their accounts.

The buyer, which is based in North Carolina, said buying GrandSouth Bancorp would give it more than $1 billion of assets and eight branches in South Carolina.

JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market.

Inter is listing on Nasdaq and plans to offer banking and payment products tailored for immigrants in the States.

The Federal Reserve has started a hiking cycle that's expected to continue with half-point increases in June and July, Marvin Loh, senior macro strategist at State Street Global Markets, will assess the June Federal Open Market Committee meeting and tell what he expects the panel to do in the future.

Democratic senators led by Bob Menendez urged the Federal Reserve to take a more active role in the selection process of the heads of its regional banks so that more diverse candidates would be considered.

The Community Reinvestment Act has failed to reduce anti-Black racial discrimination in financial services, to lower poverty or to lessen environmental destruction.

Missed payments are rising among nonprime credits as higher prices on other goods leave consumers with less money to pay back their car and truck loans. The uptick may be a sign that the stellar credit environment for lenders is starting to turn.