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The technology company reportedly plans to launch a Venmo-style person-to-person payments service -- which could take business away from major financial firms.

Apple denies it wants to be a bank, but a report suggests it is developing a mobile payment system to allow iPhone users to send money to one another from their phones.

The service, which would compete with PayPal Inc's popular Venmo, would allow users to transfer funds from their checking accounts through Apple devices.

The National Credit Union Agency has sued several companies over securities sold to credit unions that failed during the financial crisis.

Goldman Sachs, JPMorgan and other major lenders reported dampened revenues after a quarter marked by global market volatility.

The bank will acquire General Electric's $30 billion middle-market commercial lending unit, a significant chunk of GE's remaining finance business.

The financial sector is still waiting to benefit from a U.S. Federal Reserve interest rate hike this year.

Asian markets opened higher Monday as investors focused attention on quarterly results. The biggest U.S. banks were scheduled to issue results this week.

The industrial giant is in advanced talks to sell a specialty finance portfolio, a person familiar with the matter said.

Six of the top financial institutions in the U.S. together used nearly 400 recognized tax havens in 2014. Their offshore cash totaled $126 billion.

The Financial Stability Board promises to draft rules that would prevent taxpayers having to bail out financial institutions by the time of the G-20 summit in November.

General Electric said it would sell its U.S. healthcare finance unit to credit card lender Capital One Financial Corp for about $9 billion as it winds down its finance arm and returns to its industrial roots.

The big banks are the first of six in the U.S. to post quarterly results between Tuesday and July 20.

Women account for fewer than one in 10 mutual fund managers, new data show, but that's still better than some other finance careers.

The two banks reported quarterly results Thursday amid a busy week of corporate results from the financial sector.

However, BofA's first quarter reversed a surprise loss from a year ago when it was hit with $6 billion for litigation expenses.

Investors weighed a series of mixed earnings from JPMorgan and Wells Fargo, the first two major banks to report quarterly results this earnings season.

The investment giant's first-quarter profit jumped 12 percent from a year ago, while Wells Fargo reported a rare earnings decline.

JPMorgan Chase is the first of six major U.S. banks scheduled to post quarterly results between Tuesday and April 20.

How well is Wall Street's strategy on actively managed mutual funds holding up for investors?

PNC Financial joins the list of lenders refusing to do business with an environmentally damaging industry.

The Justice Department argued the company's rules result in higher fees for consumers and hurt competition against rivals Visa and Mastercard.

JPMorgan's shares dropped more than 2 percent Wednesday after the investment giant's profit dropped 6.6 percent due to legal expenses.

JPMorgan Chase is first of six major U.S. banks scheduled to post quarterly earnings results this week.

The unemployment rate is forecast slipping one-tenth of a percentage point to 5.7 percent in December, which would be the lowest since June 2008.

The big banks, traditionally the darlings of earnings season, could be showing signs of improvement with Bank of America on tap for Wednesday.

The bank has eased its lending standards on mortgages it acquires from other banks.

"Toward the end of the second quarter, we saw encouraging signs across our businesses."

China's banks made $292 billion in aggregate pretax profit last year, or 32 percent of the industry's global earnings, according to The Banker.