Allissa Kline

The groups also want regulators to downgrade the Cleveland bank's rating under the Community Reinvestment Act. The demands represent an escalation of a dispute over whether Key fulfilled promises it made under a 2016 community benefits agreement.

The Missouri bank was downgraded by credit rating agencies in the wake of last month's bank failures, but CEO Mariner Kemper is pushing back. "We have way, way overblown the impact of two failed banks," he said.

At the two big banks, proposed phaseouts of lending for new fossil-fuel exploration drew less shareholder support on Tuesday than they did a year ago. The results were a blow to activists who want big banks to take stronger action to combat climate change.

The Dallas-based company is intentionally shedding certain deposit relationships that don't align with its new business model. Total quarterly deposits fell 12.6% year over year, but they rose 1% after excluding the relationships targeted for reduction, according to the bank.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

Though revenue growth remains a challenge, Citigroup is still committed to its global wealth management expansion plan, CEO Jane Fraser said Friday. Andy Sieg is joining the bank from Merrill Lynch in September as head of global wealth management.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

Eric Rosengren, who stepped down as CEO of the Federal Reserve Bank of Boston in 2021, has been elected an independent director of Berkshire Hill Bancorp. He's its second new board member this year.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

Lenders had started tightening as early as the fourth quarter in anticipation of a possible recession. Now, the banking crisis is driving community and regional banks in particular to hit the brakes harder, stoking renewed recessions fears.

In his new role as chief operating officer, Selva will take the reins of a multiyear initiative to improve internal controls. Those efforts, which followed regulatory scrutiny, were previously led by longtime banker Karen Peetz, who plans to retire in May.

Following the second-largest bank failure in U.S. history, the California Department of Financial Protection and Innovation said it will examine how it can strengthen its system of financial regulation. The Federal Reserve has begun a similar review.

After a bank run led to Signature Bank's failure, New York Community Bancorp bought much of what was left from the FDIC. The acquirer now faces questions about how it will persuade the remaining depositors to stick around.

Shadows loomed over Credit Suisse and First Republic early Thursday, but the sector outlook brightened after billions of deposits were pledged to the U.S. bank.

After two high-profile failures and a liquidity scare, money is on the move from collapsed and suspect banks to destinations viewed as safer havens. Some banks say they're in position to score fresh funds, new customers and talented workers.

The White House and regulators have sought to ease fears about the banking system, but business depositors as well as regional bank investors remain jittery. Speculation has accelerated about potential buyers of the failed Silicon Valley and Signature banks, the health of certain other regionals and how deposit costs will change.

The FDIC named Greg Carmichael, who retired last year as CEO of Fifth Third Bancorp, to run a bridge bank that will hold Signature's deposits and most of its assets.

The abrupt downfall of Silicon Valley Bank prompted investors to question whether other banks that hold tech-related deposits could also be at risk. But one analyst said there could be opportunities for banks to add deposits from customers of the failed bank.