Investments

Southern Bancorp, a community development financial institution, will devote part of a multimillion-dollar investment from the payments giant to developing technology that helps consumers budget, buy a home and more.

The fintech, which is going public through a merger with a special-purpose acquisition company, has updated its logo and messaging to emphasize its capabilities in e-commerce and digital marketing. It's part of a trend of traditional payments such as TransferWise, Fattmerchant and even Mastercard repositioning themselves to win over investors.

It is possible for financial firms to value the future of the planet and lift up marginalized communities while still generating strong returns for shareholders. Here's how.

Goldman Sachs Group and JPMorgan Chase are ditching safeguards on credit lines to CLO managers, to defend their market share as arrangers in the lucrative business.

Federal Reserve Chairman Jerome Powell said the market dislocations of the past year resulting from the pandemic had changed the impact that the supplementary leverage ratio was having on the largest banks. After temporarily easing the requirement, the central bank is considering longer-term reforms.

In the past five years combined only 14 banks failed to meet the minimum market capitalization for inclusion in the index. In this year's rebalancing, 82 are being removed and some may have to consider strategic options to appease investors.

The largest financial institutions say the agency’s proposal to require public companies to disclose their contributions and vulnerability to climate change is consistent with investor demand. Community banks say it would create an unnecessary regulatory burden.

Fitch says it will be weighing failures of management standards and practices at banks more heavily when considering possible downgrades. ESG advocates are cheering the development.

The company's payment processing platform supports the likes of Uber and Square in their ambitions to create all-in-one offerings that bundle financial and other services.

Dave, a banking startup that’s been backed by investors including Mark Cuban and Capital One Financial, agreed to go public in a deal with a blank-check firm that values the company at $4 billion.