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Wyoming Republican Sen. Cynthia Lummis, one of the crypto industry’s staunchest supporters in Congress, is planning to introduce a comprehensive bill next year that would cover everything from how digital assets are taxed and categorized to consumer protections. 

The buyer, Union Bank of the Philippines, will pay about $904 million for Citi's local credit card, unsecured lending, deposit, brokerage and investment businesses.

Daily edition for December 23, 2021

There are more than 20,000 Holocaust survivors in the New York City area, and roughly a third of them are said to live in poverty. New York-chartered financial institutions should voluntarily waive transfer and processing charges on payments to reparations recipients, the state’s financial services regulator says.

The mission of the North Carolina company, founded by banks to archive digital images of checks, has evolved over the last 20 years. It is migrating to a public cloud to help it expand beyond check services.

President Biden extended the pause on federal student loan repayments by another three months as the U.S. faces a fresh wave of COVID-19 cases from the omicron variant, removing a near-term threat to millions of Americans’ finances.

These executives are adapting to changing customer demands amid rebounding M&A and coronavirus-related challenges.

Maxine Waters, the House Financial Services Committee chair, is questioning Federal Deposit Insurance Corp. chief Jelena McWilliams's claim that board Democrats' request for comment on merger policy was invalid without her support.

Consumers are pushing card networks and issuers to develop programs that reward them for spending on sustainable products and other initiatives to mitigate climate change.

A dispersed workforce presents added cybersecurity challenges resulting from employees accessing their organization’s networks through a home connection. This new reality reinforces the need for financial institutions to transform their digital infrastructure to guard against breaches.

Daily edition for December 22, 2021

With the Biden administration suffering setbacks in trying to appoint a Senate-confirmed leader at the Office of the Comptroller of the Currency, acting Comptroller Michael Hsu could emerge as the consensus choice, observers said.

The Consumer Financial Protection Bureau sued LendUp in September, alleging that the digital payday lender consistently misled customers about the benefits repeatedly using its loan products.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties. 

The state Department of Financial Protection and Innovation issued a cease-and-desist order against Nano Banc, saying the troubled bank violated an earlier consent agreement when it replaced five board members and appointed a new CEO without the regulator’s permission.

Unity of Eatonville Federal Credit Union will spend its first year focusing on auto lending and deposit services.

Kit Snyder, who has led Consumers since 1983, will be succeeded by Scott Sylvester, the credit union's chief operations officer.

Eli Tinsley, the bank's chief banking officer, was promoted to president and chief executive.

Experts discuss the proliferation of chief diversity officers across the industry and what it may mean for future progress in diversity.