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Credit Agricole has suspended its activities in Russia, joining a growing list of lenders scaling back their business in the country after the invasion of Ukraine.

David Miree will become global head of diversity, equity and inclusion for the New York megabank. He will succeed Brian Lamb, who will move into a new role in the firm’s commercial banking business.

European bank regulators are set to start work later this year on adding climate-change risks to the framework for setting capital requirements, in a shift that would penalize lenders for failing to prepare for losses from extreme weather and the shift to clean energy.

The cybercriminal group N4ughtySecTU claimed to have stolen 54 million personal records from the credit bureau and demanded $15 million.

Though it's one of the largest U.S. credit unions at $15 billion of assets, the organization still works with a number of fintechs to live up to its name.

Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient.

The two similarly named companies had planned to merge. At issue is whether Amalgamated Financial in the Big Apple violated terms of that agreement when it called off the deal in February.

Federal student loan borrowers are likely to experience a notable increase in delinquencies once forbearance concludes in May, a report from the Federal Reserve Bank of New York found.

Russian banks are reportedly courting the Chinese payment network to overcome the loss of Visa and Mastercard. The strategy would test China's willingness to provoke a response from the international community.

Daily edition for March 22, 2022

The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.

Sanctions imposed over the Ukraine war prompted the French bank to tell commercial clients it won't process their Russian transactions after March.

On Dec. 31, 2020. Dollars in thousands.

On Dec. 31, 2020. Dollars in thousands.

A new Securities and Exchange Commission proposal would require public companies to report climate-related risks across their value chain. That could be especially difficult if it means banks have to account for their borrowers' emissions.

Banking executives and analysts worry that the Federal Reserve's aggressive plan to raise interest rates will be insufficient to tame inflation and overcome economic fallout from the war in Ukraine.

Federal Reserve Chair Jerome Powell said the central bank will take the “necessary steps” to get inflation down even if that means increasing interest rates more rapidly than currently anticipated and eventually to levels that slow the broader economy.

JPMorgan Chase and HSBC are among the banks that have set up shop in virtual worlds or plan to.

Ramp, a startup that offers corporate cards and other finance tools to businesses, raised $750 million in a funding round that valued the fintech at $8.1 billion.

A growing chorus of voices seems to share the view of former New York banking regulator Maria Vullo, who once said, “Toddlers play in sandboxes. Adults play by the rules.” But any movement away from the collaborative development of regulations for new financial services products would be a setback for consumer choice.