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While other digital payment providers have partnered with banks to improve their offerings, Circle's plan would enable it to offer regulated financial services in-house to complement its U.S. Dollar Coin cryptocurrency.

The $1.5 billion-asset SAFE FCU in Sumter, South Carolina, is combining with the $3 million-asset Sumter City Credit Union.

As tech giants rush into point-of-sale lending, the smaller companies that built the market are counting on acquisitions and partnerships with specialized vendors to defend their turf and pull in new borrowers.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

David Willis, the Oklahoma City credit union’s co-president and chief operations officer, has been selected as Kloiber’s successor and will take the helm on Sept. 1.

This is not a world for small ideas, and the sooner many narrowly focused upstart financial technology companies come to grips with that reality, the better.

The deal would mark a first step in Chief Executive Jane Fraser’s plan to exit 13 retail markets across the Asia-Pacific region, Europe and the Middle East.

Personal-wealth businesses in the asset-management arm will be consolidated under the newly christened PNC Private Bank.

Local financial institutions have fewer branches than big banks, and closing even one location makes it harder for them to serve their communities.

In the short term, the Biden administration is asking the industry to help previously unbanked households access their funds. Longer term, some banks see a real opportunity in advising their customers on what to do with the large cash influx.