Hungary’s commercial banks have started the initial testing phase of an instant payments scheme, with plans to go live on July 1 for domestic broadscale use.

An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.

Sens. Kevin Cramer, R-N.D., and Martha McSally, R-Ariz., will fill the two GOP vacancies in the new Congress.

The Montgomery, Ala.-based institution has paid out more than $4.8 million to members over the last eight years.

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules.

An “emergency merger” with troubled Progressive Credit Union gives PenFed – already the nation’s third-largest credit union – the ability to welcome any potential member nationwide.

Banks, retailers and technology companies have spent years relentlessly working to replace cash with plastic, digital or mobile alternatives. And cash has hit back hard.

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.

Industry trade groups, which have been active in fighting lawsuits that allege violations of the Americans with Disabilities Act, hailed the decision.

The credit union rewarded members based on the CU's performance last year and the depth of their relationship with the institution.

The agencies are weighing a plan to reduce the scope of residential real estate transactions requiring an appraisal, but appraisers have warned that the proposal could have consequences.

The Office of the Comptroller of the Currency advanced the ball last year by collecting public feedback on modernizing the law, but all three federal bank regulators will have to reach consensus on a formal proposal.

In her New Year’s message, CFPB Director Kathy Kraninger called on the agency to ensure that consumers are treated fairly and that “the marketplace is innovating.”

Both CUNA and NAFCU have responded to the bureau's request for input by raising concerns about cybersecurity, public complaints and more.

Facebook’s WhatsApp unit has been testing its payments app in India since May; investors price in an almost a 90% probability of no Fed hikes this year.

As the federal budget dispute shoves an increasing number of government workers to the sidelines, there’s a window to provide payments relief that’s superior to options such as payday lending and bartering.

Denice Schultheiss became director of the Office of Credit Unions in Michigan after John Kolhoff left to lead the Texas Credit Union Commission.

These CEOs don't just run their credit unions, they're also the chief executive for their community -- and despite a desire to serve, they face some unique challenges.

As perhaps the world's most wide-reaching, comprehensive data protection rule, the General Data Protection Regulation is having a ripple effect that almost seemed inevitable.

With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.