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Strong trading and investment banking fees also contributed to a 42% increase in profit to $12.1 billion in the fourth quarter.

Fresh market interest and government action have created a chance for payment technology providers like Circle to promote blockchain-powered transactions.

While fintech's advancement creates a pathway for innovation, it also expands exposure to unintended risk, says Flywire's Mike Massaro.

Daily edition for January 15, 2021.

Issued in the final days of the Trump administration, the regulation has united banks, gun-control advocates and environmentalists in opposition. It could be blocked by Congress or a comptroller chosen by the new president.

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union.

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear whether the incoming Biden administration will keep the mortgage giants on the same reform path.

The National Credit Union Administration and the Consumer Financial Protection Bureau will hold strategy sessions and share information tied to consumer protections at institutions with more than $10 billion of assets.

A sponsorship deal between the regional bank and the league will emphasize economic empowerment and financial education. It's a good example of how corporations increasingly seek to associate their brands with a cause or purpose, experts say.

Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity.

Branch has been with WOCCU for 31 years, the last 10 of them spent as CEO.

The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.

A slower-than-expected rollout of the COVID-19 vaccines and the threat of social unrest after the Jan. 6 riot at the U.S. Capitol could threaten the recovery, according to an American Bankers Association panel.

Diane Arnold, who will succeed the retiring Gregory Shook in July, has been with the bank since 2002. She is currently the chief lending officer.

Smaller financial institutions and fintechs need to work together to continue closing the unbanked gap through expanded digital banking capabilities.

Most consumers expect to be offered a variety of digital payment options in stores in a post-COVID-19 world, and small and midsize business believe that change will be permanent, a Visa study finds.

What started as Mezu and went through 18 difficult months competing as a payments offering has now rebranded as Alviere, with a broader range of digital banking services.

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May.

The Office of the Comptroller of the Currency finalized a rulemaking Thursday morning opposed by the industry that forces the largest banks to provide services to gun businesses and other sectors to which banks have curtailed lending.

Goldman Sachs will work with the digital-payments upstart Marqeta on offering checking accounts for Main Street consumers.