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Smaller regional banks kept funding costs in check and relied on robust noninterest income to earn their spot as a 10 top-performing bank on American Banker's annual ranking.

Higher capital requirements tend to drive certain lending activities away from banking and toward so-called shadow banks. How regulators shore up banks without driving their customers away is the source of a spirited philosophical debate in Washington.

Investors will get the chance to fill three director seats at the Philadelphia company, which last held an annual meeting in April 2021 and has been embroiled in a legal fight with a shareholder group.

Following regulatory stress tests, three midsize institutions expect to be required to maintain larger stress capital buffers. The reverse is true for four of the nation's largest banks.

The president said he would begin a new process to provide relief under the Higher Education Act and would also create a 12-month "on-ramp repayment program" that would help borrowers reduce the threat of default.

The KBW Bank Index gained more than 5% in June, marking its best period since January, before several high-profile bank failures.

The San Antonio bank says it will open 17 new financial centers in the Austin region by 2026. It's the latest step in a physical expansion strategy that has led to dozens of new branches in Houston and Dallas.

Wells Fargo leads $70 million funding effort targeting credit-challenged entrepreneurs; PayPal adds Tap to Pay for Venmo, Zettle; Amex names new CFO to succeed retiring veteran finance chief and more in this week's banking news roundup.

The two companies will work together on software and services for joint clients.

The card brand's Multi Token Network supports transaction authentication for blockchains and other new electronic payment options.