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The bank is the first to offer a service from The Clearing House’s Real Time Payments network that lets businesses send bills to retail clients, who are given the option to pay them immediately.

Temenos and Mbanq created a platform to offer technology and compliance services to credit unions via application programming interfaces.

During third-quarter earnings calls, Bill Demchak of PNC raised concerns about stablecoins, while Jane Fraser of Citigroup pledged that there will be accountability for fixing her company's regulatory troubles and Jamie Dimon of JPMorgan Chase sounded downbeat about the Biden-era regulatory environment.

Mark Drinnon succeeds Beverly Boling, who retired from the CEO role in September.

The upstate New York company, which has agreed to acquire People’s United Financial in Connecticut, is the latest bank to negotiate a multibillion-dollar spending commitment with the National Community Reinvestment Coalition.

In their first direct appeal to President Biden, financial institutions and other industries' trade lobbies called on the administration to abandon its proposal that would give the Internal Revenue Service new information on customer accounts.

The partnership enables issuers to offer credit and debit cards to spend crypto balances.

The U.S. Treasury is creating a new role of point person for racial equity, hiring JPMorgan Chase veteran Janis Bowdler for the job.

The European Union plans to soften the blow to banks from new capital rules, arguing that an easier stance ensures lenders can keep funding the economy as it recovers from the shock of the pandemic.

The New Payments Architecture was delayed for years due to COVID and other factors. It will move ahead focused only on push payments instead of replacing two national rails.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

The state has a poor track record of managing customer-facing operations. It’s difficult to see an upside in the current push for a state-run bank — especially when neobanks are already offering the same services it would provide.

On Jun. 30, 2021. Dollars in thousands.

Treasury Secretary Janet Yellen defended Federal Reserve Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term — even though in the past she’s expressed some misgivings about rulemaking under his watch.

The New York bank had hoped to find a buyer for its South Korean retail franchise but now plans to wind down operations instead.

PayPal said it isn’t pursuing an acquisition of Pinterest, ending days of speculation over a potential $45 billion deal.

Michelle Moore, head of consumer digital at Wells Fargo, is leading development of an entirely new banking app and a virtual assistant named Fargo that will roll out next year.

Daily edition for October 25, 2021

The Financial Stability Oversight Council's guidelines for regulators avoided measures that banks feared such as fossil fuel loan limits and rigid new stress tests. But the panel is recommending rules that would require financial institutions to disclose their exposure to global warming.