Subject Root Tag

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.

This year’s stress tests examined 23 banks including JPMorgan Chase and Goldman Sachs, with the remainder of the firms on an “every other year” test cycle. The capital requirements for those remaining firms are unchanged from last year.

Daily edition for August 06, 2021

A problem caused by the pandemic appeared to be resolved, but has returned in recent months. Here’s what happened.

Steven Schnall, the New York community development financial institution's founder and CEO, discusses its plans to let customers buy and sell bitcoin through their bank accounts, use a ring to make debit card purchases and have a better shot at a home loan.

Alabama Credit Union's agreement to buy Security Federal Savings Bank, a small commercial lender, renews lingering questions about whether small banks are prey for tax-advantaged credit unions.

The agreement between the state’s financial regulator and Meratas will subject the company to heightened regulation after years of criticism that income-share agreements have escaped scrutiny.

Republicans on the Senate Banking Committee objected to Biden administration picks for key jobs at the Department of Housing and Urban Development based on their past criticism of police practices. The nominees, including the prospective Federal Housing Administration chief, said their statements were taken out of context.

The Rhode Island company has been snapping up banks and nonbanks alike. It says that buying Willamette Management Associates in Oregon will augment its 2017 purchase of Western Reserve Partners.

First United Bank in Oklahoma bought a minority stake in Exencial Wealth Advisors instead of acquiring it outright to give the owners an incentive to stick around and help build the business — and to make it easier for the bank to bail if things don't work out.

The firm is offering customers of JPMorgan Private Bank a passively managed fund in partnership with NYDIG, CoinDesk said, citing two people familiar with the matter.

Wells Fargo is pushing its return-to-office plans back a month to early October, citing rising COVID-19 rates across the U.S.

As the Federal Reserve mulls the idea of issuing a digital currency, some industry representatives are already sounding the alarm. Their main concern is a new regime for storing cash will reduce demand for bank deposits.

Daily edition for August 05, 2021

Many banks reported sharp declines in income from home loans during the second quarter. The large gains they enjoyed last year thanks to a surge in refinancing activity are unlikely to return, according to bankers and analysts.

Sen. Patrick Toomey, the ranking Republican on the Banking Committee, has argued that research by the Federal Reserve into these topics could result in “mission creep.” Fed officials have said their job includes fostering inclusive economic growth and ensuring the banking system is girded against financial risks posed by climate change.

Companies like Arkose Labs say they're so confident in their ability to deter the attacks — automated attempts to break into online banking sites using stolen usernames and passwords — that they can offer banks a warranty.

Stacy Kymes, the bank's chief operating officer and a 25-year company veteran, will succeed the retiring Steven Bradshaw.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.