Citigroup restated fourth-quarter results after writing down a portion of a loan to Revlon it now owns after losing a court battle.

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners.

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

Banks lowered their loss provisions at the end of 2020, a sign they feel better about this year than last year, according to data from the FDIC. But loan balances fell for the second straight quarter and the annual loan growth rate was the lowest in seven years.

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance.

Prepaid customers’ COVID relief spending boosted the bank’s bottom line in 2020, but executives don't count on a repeat performance.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

With the SEC probing Ripple, MoneyGram sidelines its partner to nurture online operations, which hit a milestone by surpassing in-store Walmart remittances in December.

Net income and loan volumes at the Michigan-based credit union were both down in 2020 but noninterest income shot up 41% thanks in part to participation in the Paycheck Protection Program.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.

The tech giant says it will benefit heavily from its 2019 purchase of Worldpay as it seeks to provide digital payment services to merchants.

The arrangement, which focuses on merchant services, comes about six months after Global Payments secured a similar partnership with Amazon Web Services on the issuer side of its business.

Its success was driven by its support for buying and selling cryptocurrencies and its entry into the buy now/pay later market.

Its success was driven by its support for buying and selling cryptocurrencies, and its entry into the buy now/pay later market.

Some big banks trimmed their stockpiles that guard against loan losses in the fourth quarter, but overall allowances fell less than many observers predicted. The trend will likely continue given uncertainties surrounding vaccine distribution and the economy.

Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.

Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.

Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.