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Warren Buffett’s Berkshire Hathaway exited a bet on Synchrony Financial during the first quarter as the company continued to pare back its investments in financial firms.

HSBC has extended its instant cross-border payments network to small and midsize businesses through a digital wallet built for storing and spending foreign currency.

Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

The executive faces a tall order in meeting loan balance and deposit goals at the online consumer bank; Warren Buffett’s firm sold 99% of its leading stake in the bank in the first quarter.

After much anticipation, the Federal Reserve last year finally joined the Network for Greening the Financial System, which develops regulatory best practices for combating climate risks. But all U.S. banking regulators must participate for the effort to succeed, some observers argue.

As contactless payments skyrocket, the chance for fraud gets larger, says ClearSales's Rafael Lourenco.

Cryptocurrencies provide a streamlined way for content creators on Twitter, Twitch, YouTube and other platforms to accept donations directly from fans.

Daily edition for May 18, 2021.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

The Department of Financial Protection and Innovation has tapped Christina Tetreault as the head of the newly created Office of Financial Technology and Innovation.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The U.S. arm of Mitsubishi UFJ Financial Group has hired nine bankers away from Wells Fargo in an effort to expand its restaurant finance group. The lender focused on the fast-casual and quick-serve segments during the pandemic and anticipates growth in that sector.

Financial institutions said they needed more time to weigh in on issues such as how they use artificial intelligence for fraud prevention and underwriting.

During the pandemic-induced lockdowns, the Federal Reserve loosened a rule requiring banks to cap certain savings withdrawals at six per month. Some banks have since dropped ceilings and associated fees, while others have stood pat.

Silvergate Bank CEO Alan Lane, former HSBC executive Stuart Levey and experts at Anchorage Bank are helping Facebook make its digital currency more palatable to regulators and potential bank partners.

The Amsterdam bank offers to directly credit a small business's invoices early after a vetting process — but before the invoice is paid.

American Express has created a path for PayPal to immediately accept digital versions of consumer credit cards as soon as the cards are approved.

Year to date Dec. 31, 2020. Dollars in thousands (Dec. 31, 2020)

On Dec. 31, 2020. Dollars in thousands.