Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.

The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.

Block, the digital payments company run by Chief Executive Jack Dorsey, is under investigation by the Consumer Financial Protection Bureau and multiple state attorneys general in connection with its Cash App service.

The Federal Reserve's models assume interest rates will decline if the economy falls into a recession, but as big banks prepare for their annual stress tests, they should also be considering the impact of rising rates and higher inflation on their operations.

The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.

Empire Financial Federal Credit Union had been placed into conservatorship by the National Credit Union Administration in May because of “unsafe and unsound practices.” Another credit union has assumed its assets and deposits.

Here is a rundown of the regulatory, diversity, competitive and other challenges that executives explored at the Credit Union National Association's annual gathering in Washington.

A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.

Deutsche Bank is conducting an internal probe into the extent to which staff used private messaging channels such as WhatsApp, amid a crackdown from U.S. regulators on banks that fail to store business-related communication. 

Visa has suspended access for certain clients as it works to comply with sanctions imposed after Russia’s invasion of Ukraine.

The credit union had been in the custody of the National Credit Union Administration since June 2020 to address concerns of unsafe and unsound business practices.

President Biden’s four nominees to join the Commodity Futures Trading Commission told lawmakers that the main U.S. derivatives overseer should take on new responsibilities regulating cryptocurrencies.

The Federal Reserve Board is taking a fresh look at how financial firms get coveted access to the U.S. central bank’s payment system — a controversial question that’s weighing on President Biden’s pick to be Wall Street’s top bank regulator.

Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.

Lawmakers in New Mexico recently approved a stringent rate limit, and similar efforts are underway in Rhode Island and Michigan. The state-level actions are among the "numerous headwinds" facing high-cost lenders, one analyst said.

The European Union is discussing the exclusion of seven Russian banks from the Swift financial messaging system, but the proposed list spares the nation’s biggest lender and a bank part-owned by the Russian gas giant Gazprom. 

The industry reported a jump in trading revenue and investment banking fee income, which helped offset rising expenses, according to the Federal Deposit Insurance Corp.'s latest Quarterly Banking Profile.

The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.

CFPB Director Rohit Chopra said the bureau is concerned that the spike in car prices, due partly to the global chip shortage, could create incentives for servicers to illegally seize vehicles for their resale value.

While most banks are afraid to touch cannabis business until federal regulations are put in place, some are turning to fintech to automate compliance until then.