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In September's roundup of top banking news: Truist Financial promises to cut costs by roughly $750 million; former Wells Fargo exec Carrie Tolstedt is sentenced to three years probation; and more.

Commercial real estate borrowers, including vulnerable office tower landlords, are increasingly struggling to make payments and, as a result, more lenders are expected to report higher credit costs.

MidWestOne will reinvest proceeds of branch sales into Denver Bankshares; promotions are afoot in JPMorgan's investment banking unit; Bethpage Federal Credit Union expands into Queens and New Jersey; and more in the weekly banking news roundup.

With the firm's $75 million settlement this week with the US Virgin Islands, the echoes from the bank's association with the convicted sex offender continue to reverberate.

The former employee is accused of shuffling information to two friends.

Increasing federal deposit insurance limits is not the answer to the banking system's woes. It would cause riskier behavior and more red tape. And it wouldn't prevent bank runs.

Less than a month after Ripple said it had agreed to acquire custodian Fortress Trust, the crypto company is backing out of the deal.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

MSP users who are not Encompass customers are a particular target and vice versa, ICE Mortgage Technology chair Ben Jackson said.

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.