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New York Community Bank and Synovus Bank are among the founding members of the group, which will use the US Dollar Forward stablecoin on the Provenance blockchain.

A U.S. central bank digital currency is coming, and what form it takes could spell opportunity — or trouble — for the banking industry.

Brian Knight of the National Association of State Credit Union Supervisors will prioritize collaboration with the National Credit Union Administration in his efforts to help state-chartered institutions stay competitive with federally chartered credit unions as well as community banks and fintechs.

Daily edition for January 12, 2022

If the payments company moves ahead with a digital currency rollout, its network of merchants and consumers as well as its retail-payments focus could give it the upper hand over banks, whose products are limited to cryptocurrency exchanges, wholesale payments and other specific uses.

The standard charge for customers who overdraw their accounts is $30 or more. Analysts say one megabank’s decision to slash the price will pressure competitors to take similar steps.

Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.

The companies will use funding obtained from private investors to develop or expand products that help business owners send and receive money more quickly and manage their operations.

Jerome Powell sought to strike a political balance at his reconfirmation hearing. He assured Republicans the Federal Reserve wouldn't overstep its authority on bank mergers and other matters, while telling Democrats the central bank has a responsibility to monitor financial stability and the risks of climate change.

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

Cryptocurrency kiosks are increasingly suspected of being used in the smuggling of human beings and drugs. Law enforcement agencies need more information about their locations, according to a government watchdog report.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Darrick Weeks takes over from Tom Knothe, who has been interim chief executive since June 2021.

Apollo Global Management has launched a new direct lending platform that offers individual investors access to large corporate loans, making it the latest non-bank lender to try to take advantage of soaring demand for private credit.

Chief Audit Officer Denise DeMaio will join Truist from MUFG, while Chief Information Security Officer Howard Whyte has experience at Boeing, Goldman Sachs and the FDIC.

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.

The nation’s second-largest bank by assets is the latest to roll out changes that will reduce its overdraft revenues. But in cutting its fee from $35, BofA is taking a different tack than many competitors.

Hundreds of bankers and credit union executives are seeking exemptions and changes to a Consumer Financial Protection Bureau proposal to collect race, ethnicity and gender information about small-business borrowers that they describe as burdensome and unworkable.

Daily edition for January 11, 2022

Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.