Banks must seek and obtain prior approval before engaging in cryptocurrency-related activities, and those that already engage in such activities must immediately notify the agency, the New York State Department of Financial Services said. 

Citigroup said it will wind down its consumer banking business in China, a move that is expected to affect about 1,200 employees in the country.

Citigroup told employees they can work from anywhere for the final two weeks of the year, as Chief Executive Jane Fraser bucks a trend among rivals to get office workers back to their desks full time.

Dort Financial Credit Union in Grand Blanc, Michigan, has agreed to buy Flagler Bank in South Florida. The deal would allow Dort "to better serve our members who spend winters in Florida," its CEO says.

The acquisition of Malvern Bancorp in Pennsylvania would provide added heft in suburban Philadelphia markets. It is easily First Bank's largest-ever M&A deal.

HSBC Holdings will no longer finance new oil and gas fields or related infrastructure in a move that climate activists say puts it ahead of many peers in addressing global warming.

Micron's planned semiconductor chip factory near Syracuse along with IBM's expansion project in the Hudson Valley could inject as much as $120 billion into markets inside the footprint of the combined NBT Bancorp and Salisbury Bancorp. NBT CEO John Watt calls the economic investments a "transformational opportunity" for the region.

Danske Bank A/S admitted to fraud and agreed to forfeit $2 billion to end a long-running U.S. probe into money laundering at its Estonia branch, an embarrassing episode that led to the ouster of top management and pushed thousands of customers to leave.

Hanno Berger, a German lawyer dubbed the mastermind of Cum-Ex, was sentenced to eight years in prison for his role in part of a sprawling tax scandal that's robbed billions of euros from government coffers and embroiled some of Wall Street's biggest names

Bank of Montreal, which is working to close the largest acquisition in its history, is selling C$3.15 billion ($2.31 billion) in equity to make sure it can meet Canadian regulators' recently increased capital requirements.

The overwhelming majority of top leaders at large U.S and Canadian banks expect a prolonged downturn in 2023, according to a recent survey. Almost none of them expect it to be particularly harsh, though.

The West Virginia-based Summit would gain 10 branches in Maryland and Delaware through its $54 million agreement to buy PSB Holding Corp.

Goldman Sachs Group aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead.

After spending the past two weeks participating in media interviews, former FTX Chief Executive Sam Bankman-Fried is being more selective when it comes to appearing before Congress to discuss the collapse of his cryptocurrency empire.

Bank of America Chief Executive Brian Moynihan said he has no intention to leave his post, responding to a report that he's on the Biden administration's short list to replace Treasury Secretary Janet Yellen if she steps down.

Metro Bank and two of its former senior managers were hit with penalties by the U.K.'s financial watchdog for knowingly giving investors misinformation linked to the lender's capital adequacy.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

The U.S. Supreme Court agreed to consider a Coinbase Global appeal over a user lawsuit in a case that could bolster the ability of companies to channel customer and employee disputes into arbitration.

The National Credit Union Administration's emergency exemption allowing for remote board and membership meetings at federally chartered institutions is scheduled to lapse at year-end. The agency's chairman recommended hybrid meetings as an option that can satisfy traditional meeting requirements.

Former JPMorgan Chase gold and silver trader Christopher Jordan was convicted of wire fraud affecting a financial institution by a federal jury in Chicago, the latest win for U.S. prosecutors in their crackdown on illegal "spoofing" trades and market manipulation.