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A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

During a House hearing, Democrats advocated for measures that ensure businesses keep accepting paper money, while Republicans argued in favor of chartering more fintechs and promoted stablecoins to extend access to the underbanked.

The new ATMs deter card-skimming fraud through encryption, individually paired card readers and a design that requires users to dip their cards at an angle.

Goldman Sachs Group posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks.

Daily edition for October 15, 2021

The wealth management business is undergoing considerable transformation. The pandemic has created a new breed of investors, with distinct expectations and tastes formed by new technology and having lived through the financial crisis.

Charlie Scharf faced tough questions Thursday in the wake of a recent $250 million fine. Analysts did not get the clarity they sought on how much longer the bank will be constrained by a three-year-old consent order with the Fed.

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets.

In a bid to boost fee income, the Minneapolis company is upgrading its payments technology to allow businesses to manage inventory, payroll and other functions — as well as make payments — all in one place. The tech is modeled after an offering from Square.

Banks and other stakeholders are trying to stop a proposal requiring financial institutions to submit more account data, but the Biden administration says opponents of the measure are spreading the false notion that it would reveal information about specific transactions.

The bank looks at every opportunity to expand in the U.S. through organic growth or acquisition and will consider them all as they become available, the head of Toronto-Dominion Bank’s U.S. operations says.

Jane Fraser told analysts the company will spend what’s necessary to satisfy regulators’ concerns about risk management and internal controls. That includes incentives to encourage senior executives to resolve the problems promptly.

Gov. Randal Quarles is no longer vice chair for supervision, and the Federal Reserve Board will make bank regulatory policy only when multiple members reach consensus. Observers expect inaction until the Biden administration fills key leadership posts.

U.S. consumers have been more punctual than ever before in paying back debts as the economy rebounds from the pandemic. 

Talwar, who is leaving his job as chairman of Goldman's consumer bank this month, explains his philosophy on innovating within a large organization, making a digital-only unit work within a 150-year-old institution, and how he deals with skeptics.

The company posted a 58% increase in net income, fueled by increased loan demand from both consumers and businesses, as pandemic fears ease. It expects strong GDP growth through next year.

The $317 million deal will provide the London company with a large base of American clients and help it compete with technology firms like Square, PayPal and Stripe.

After extending its deadline for request for comment on cryptocurrency by a month, the National Credit Union Administration heard from credit unions and other organizations that want clarity on the boundaries the agency plans to set.

Chase Payment Solutions combines Chase Merchant Services with WePay, a fintech the bank bought in 2017, to provide more tailored offerings — such as card acceptance without a merchant account — to entrepreneurs.