The Latest

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.

The nation’s second-largest bank by assets is the latest to roll out changes that will reduce its overdraft revenues. But in cutting its fee from $35, BofA is taking a different tack than many competitors.

Hundreds of bankers and credit union executives are seeking exemptions and changes to a Consumer Financial Protection Bureau proposal to collect race, ethnicity and gender information about small-business borrowers that they describe as burdensome and unworkable.

Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.

The $3 billion-asset company is expecting to add seven branches in the northwestern part of the state, and to expand its commercial lending business in the Toledo market, with the acquisition of Comunibanc Corp.

The largest U.S. bank by assets is declining to institute a companywide mandate like Citigroup and is instead tailoring its rules to local requirements.

The CFPB sued three executives of a Colorado debt collection firm for allegedly selling debts to third-party collectors who threatened consumers with arrest, jail or lawsuits in order to get paid.

Federal Reserve Vice Chair Richard Clarida intends to resign from the board of governors on Jan. 14, two weeks before his term is due to expire.

Last reelected by a more than 21-point margin, Ed Perlmutter is now 26th House Democrat to leave Congress rather than endure the 2022 midterms.

The Change Company, a lender to Black, Hispanic and low-income borrowers, was set to merge with the former quarterback’s blank-check company. Steven Sugarman, a onetime Banc of California chief, says his company is now in talks with other investors and inviting banks to use a new digital marketplace for its loans.