Economy

Credit unions reported gains in a number of key areas but member business lending and new auto loans took a hit as overall growth continued to slow.

While executives at the Buffalo, N.Y., bank said they would take a closer look at spending, especially given the potential for interest rate cuts, they described investments in tech talent as an essential cost of doing business.

The challenger bank startup will use the new cash to double its U.S. headcount.

For ISOs, it's hard to watch someone else deliver payment services in their place.

Although the presidentially directed reports on housing finance reform are "essentially done," FHFA Director Mark Calabria doesn't expect them to be published until August or September.

Ahead of a House hearing to examine his company's proposed merger with SunTrust, King tried to downplay regulatory concerns.

A centerpiece of her “economic patriotism” bill is to transform private equity firms, which she said will buy a company and bleed it dry before “walking away enriched even as the company succumbs.”

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

CEO William Demchak, encouraged by early returns from new branches in Dallas and Kansas City, Mo., plans to enter even more markets.

The decision gives the vast majority of banks and credit unions another year to implement the controversial accounting method for loan losses.