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Citigroup said it agreed to buy Deutsche Bank's Mexican bank license amid plans to set up a local unit as the New York-based lender exits retail operations in the country.

FV Bank will let customers hold, transfer and settle both digital assets and fiat currencies in one account.

Rep. Patrick McHenry, R-N.C., who could be the next House Financial Services Committee chairman, handily won reelection, as did Sen. Tim Scott, R-S.C., of the Senate Banking Committee. But many consequential races are still too close to call.

The fintech reported on its third-quarter earnings call that tightening its credit standards has already improved delinquency trends.

The Canadian-owned bank vowed to appeal the large verdict, which illustrated the risks that banks take on when they shoulder the liabilities of companies they acquire.

David DePillo stepped down not long after the company said it would tap the brakes on loan growth and focus on lagging deposit gathering.

Titi Cole of Citi, Ellen Patterson of Wells Fargo and Ernie Johannson of BMO swapped tales and tips on being mentors and mentoring others, at American Banker's Most Powerful Women in Banking conference.

A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.

The world's largest crypto trading platform, Binance, is bailing out its rival FTX in a buyout amid the smaller company's liquidity crisis.

Bank of America, the biggest corporate issuer of bonds tied to environmental, social and governance financing in the U.S., returned to the ethical debt market for the first time this year as Wall Street giants dial back issuance amid skyrocketing borrowing costs.