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Questions remain around switching benchmarks that could result in unexpected refinancings

The Federal Reserve’s aggressive rate hikes are leading corporate clients to demand higher deposit rates, according to industry consultants. Some banks are better positioned than others to weather the changing landscape.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

The Federal Reserve System is facing increasing demands from the Senate to revamp the process for granting master accounts, disclose more information to the public and pick more diverse leaders. That pressure makes executive searches at the Kansas City and Chicago Fed banks more complicated.

Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.

Toronto-Dominion Bank, the Canadian bank that’s been expanding through acquisitions, is weighing a deal for the brokerage firm Cowen, according to people familiar with the matter. 

Klarna Bank is in talks to raise new equity at a valuation as low as $6 billion, a fraction of the $45.6 billion it commanded last summer as it became Europe’s most valuable startup, according to people with knowledge of the matter.

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

FTX US, the crypto exchange co-founded by the billionaire Sam Bankman-Fried, signed an agreement with BlockFi that includes an option to purchase the crypto lender for as much as $240 million. 

"It's probably the only asset class where maybe the client knows more than the advisor right now," Maxwell Lane, head of product for Flourish, said at Financial Planning's Invest conference.