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BlackRock, the world’s largest issuer of exchange-traded funds, will move most of its U.S. ETF assets from State Street to reduce its reliance on the bank’s custody services.

The economic tremors caused by the COVID-19 crisis led some analysts to argue that it was only a matter of time before some financial institutions collapsed. But thanks to government stimulus, the industry’s ample capital levels and moderate risk exposure, bank closings have become a rarity.

Business lines south of the border, led by a diversified commercial banking unit, contributed more than 40% of total earnings at Bank of Montreal over the past 12 months. Company executives now see an opportunity in selling wealth management services to commercial clients.

The deal for Summit Financial furthers First Financial’s strategy of acquiring national niche business lines.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

Rohit Chopra, director of the Consumer Financial Protection Bureau, pledged to make it easier for state attorneys general to draw on the Consumer Financial Protection Act in filing lawsuits against corporate wrongdoers.

CEO Jane Fraser said the bank isn’t a fan of the idea of simply asking clients to dispose of any so-called brown assets, which would just shift the problem to a new owner.

Bankers say the Biden administration’s call for regulatory greater scrutiny of mergers and acquisitions is causing holdups and could slow dealmaking activity in 2022.

President Biden said he had accepted Saule Omarova’s request that her nomination be withdrawn to be head of the Office of the Comptroller of the Currency. She faced stiff opposition from banks and members of Congress over views that many saw as too extreme for a federal regulator.

The Financial Crimes Enforcement Network proposed standards to determine which companies must report their beneficial owners under a law enacted in January. Banks hope the new requirements will free them of the burden of collecting true-owner information about their customers.