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Dama Financial's new CEO Pat O'Boyle is trying to make his firm the "weed department" for reluctant financial institutions. He has heavy competition — and a reluctant target market.

Banks in the U.S. tend to exist for about half the life span of the average human being. It doesn't have to be that way.

The National Credit Union Administration is addressing two of the main reasons why new institutions aren't being formed — making it easier for the organizers to raise the required capital and easing the burden of the application process, says Todd Harper, the agency's chairman.

Edward M. Lamont's biography of his grandfather, Thomas W. Lamont, who advised presidents and extended credit to foreign nations as JPMorgan & Co.'s chief executive in the first half of the 20th century, will be rereleased in paperback this fall. Given that more concise, analytical histories of the banker have been published since, this long tome may have been better left collecting dust.

American Banker's annual reputation survey shows regional banks were hit hardest by this spring's bank failures. But there were a few bright spots, including digital-only firms and highly specialized firms.

The Canadian bank is deemphasizing American office loans amid rising loss provisions. The decision could lead to decelerating growth in the U.S. market.

Federal and state financial regulatory agencies issued a joint statement Friday offering support and guidance to financial institutions affected by Hurricane Idalia. The agencies encouraged banks to assist impacted communities and provided banks with regulatory relief measures.

Smaller financial institutions are prioritizing engagement over other conveniences, a strategy that resonates with younger generations, according to data from Arizent.

The botnet of 700,000 computers — many in the U.S. — had assisted in major ransomware attacks, with the financial sector as its primary target.

Kevin Meyersburg, who is white, says in a lawsuit that the Wall Street investment bank terminated his employment and replaced him with a Black woman who is less qualified for the position. Morgan Stanley declined to comment.