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The fintech will work with the bank’s largest clients to spread their cash among U.S. branches of non-U.S. institutions, helping them obtain higher yields while diversifying counterparty risk.

Citigroup, the U.S. bank with the largest presence in Russia, will broaden its withdrawal beyond previously announced plans to dispose of consumer operations there.

In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.

Russia's invasion has disrupted life at Lithuanian startup Paysera, which has a dozen employees in Ukraine, including Yevhen Matasar, who fled from Kyiv to a nearby town where he still does some programming when he can. "This is a very difficult situation … it's helpful to be able to continue to work," Matasar said.

President Biden's executive order on cryptocurrency assets and a central bank digital currency marks the beginning of the administration's efforts to integrate crypto technology into the financial regulatory apparatus. That process has important implications for banks in the near term and down the road.

Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.

M&T-People's closing date set, U.S. Bank's WNBA deal and more in banking news this week.

Several large banks are being investigated for employees’ use of unmonitored messaging software, despite prohibitions that have been in place for years.

The crypto ambitions of large technology companies are drawing concern from the Consumer Financial Protection Bureau.

The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.