The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.
Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.
The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.
The House advanced a resolution that would roll back a Securities and Exchange Commission resolution that banks argue cuts them out of the crypto custodying business, but President Biden said he would veto it if it passes the Senate.
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
The Federal Trade Commission recently blasted two companies for their murky business practices and confusing charges. Industry experts say many digital and recurring payments are inviting more regulatory scrutiny.
The central bank is merely an instrument of Congress when it comes to setting card interchange fees. Only by making lawmakers feel the heat will the industry see meaningful change.
A group of 24 institutional investors say a recent pledge by the British bank to restrict financing for companies that focus exclusively on fossil-fuel exploration and extraction doesn't go far enough.
Banco Bilbao Vizcaya Argentaria SA took its offer for Banco de Sabadell SA directly to shareholders, a rare hostile move that the Spanish government said it opposed on concerns over job cuts and reduced competition.
After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.
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