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John Zmolek has been involved with the Seattle-based institution for more than three decades. A successor has not yet been named.

Making gig workers’ pay automatically available at no cost each day or after each completed shift would benefit everyone, while providing a win-win scenario for the worker and platform alike, says Payfare's Marco Margiotta.

About half of U.S. workers received an unexpected financial expense each month for 12 months overlapping most of the COVID-19 pandemic, with many resorting to bouncing checks or payday loans to cover the costs.

Payments technology provider NMI is acquiring USAePay to boost its multichannel service offerings for its independent sales organization network, as well as bank and fintech innovation partners.

The product — a special class of shares in JPMorgan's Empower money market fund — will initially be distributed by the Harbor Bank of Maryland, Liberty Bank & Trust, M&F Bank and Unity National Bank, according to a statement.

Wells Fargo plans to sell its asset management business to two private equity firms, part of Chief Executive Charlie Scharf's efforts to dump nonessential operations and help the bank emerge from years of scandals.

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

The organizations are working to deliver $1 million in grants to help some of the most treasured and vulnerable restaurants in the U.S. get through the pandemic.

The lack of federal legalization creates processing challenges, but there are emerging solutions, says Fincann's Nathaniel Gurien.

Daily edition for February 23, 2021.

Small shops are facing more competition online. Combined with the impact of Brexit, this has made it even more important for businesses to sell overseas.

It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

Treasury Secretary Janet Yellen said a digital version of the dollar could help address hurdles to financial inclusion in the U.S. among low-income households.

From delivering water door to door to turning offices into shelters, bankers in the state have adapted their hurricane-response plans to offer customers and employees relief from the past week's snow emergency and power outages.

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.

M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

More than a decade after the near collapse of the financial system and the bruising fight over Dodd-Frank put the industry and a Democratic administration in conflict, President Biden and the financial services sector are allied over the COVID-19 relief plan.

If policymakers are serious about revitalizing low-income communities, they should require all fintechs and other nonchartered lenders to adhere to the Community Reinvestment Act.

Libre by Nexus deceived detainees into believing they owed a monthly charge related to their proceedings before U.S. Immigration and Customs Enforcement, according to a lawsuit filed by the consumer bureau and three states.