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The acquisition adds mortgage warehouse lending to Minnesota's Stearns Bank, the latest to offer the service during a multiyear period that has seen several new entrants and exits.

The Green Bay, Wisconsin bank lost $164 million after selling $2 billion of loans and securities for a loss. Asset quality remains strong while the balance-sheet restructuring tees Associated up for a strong rebound this year, executives say.

Bankers applauded the news, which means that it's possible for crypto-custody efforts at depository institutions to scale.

The new policy will "make America the world capital in artificial intelligence and to dominate and to lead the world in AI," said David Sacks, recently appointed AI czar, as the president signed the order.

The subcommittee to be chaired by Sen. Katie Britt, R.- Ala. will oversee servicing and HUD at a time when Republicans are resurfacing legislative proposals they now have more power to advance.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.

The Supreme Court nullified one of two nationwide injunctions on the Corporate Transparency Act, a law requiring corporations to disclose their beneficial owners. A separate injunction in another circuit remains in effect, however. 

Industry representatives such as the European Banking Federation are lobbying the European Commission to push back stricter capital standards rules until the beginning of 2027.

The executive order also calls for regulations to be written for the digital asset industry.

Steve Squeri told analysts his firm is prepared to compete with small-business technology providers like Ramp and Brex. He also weighed in on the potential payments behemoth that would result from Capital One's purchase of Discover.