Jon Prior

Shares fell sharply Friday after the company said spending increased 14% in the fourth quarter and will climb by another 8% in 2022. But CEO Jamie Dimon said the investments in marketing, technology and talent are necessary to ward off threats from traditional banks and upstart fintechs.

The Conference of State Bank Supervisors abandoned a lawsuit against the Office of the Comptroller of the Currency that had challenged the San Francisco fintech's effort to become a national bank without deposit insurance. The company recently amended its application to drop that controversial element.

Business inventories, a key indicator of potential loan demand, are expected to swing upward this year as supply chain bottlenecks finally crack open, according to a panel of economists.

Cryptocurrency kiosks are increasingly suspected of being used in the smuggling of human beings and drugs. Law enforcement agencies need more information about their locations, according to a government watchdog report.

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.

Sarah Bloom Raskin, reportedly the Biden administration's top candidate for vice chair of supervision, would toughen the Federal Reserve's stances on the role of banks in combating climate change, capital requirements, the Volcker Rule and other policy areas, experts say.

The state Department of Financial Protection and Innovation issued a cease-and-desist order against Nano Banc, saying the troubled bank violated an earlier consent agreement when it replaced five board members and appointed a new CEO without the regulator’s permission.

Darryl White has made no secret of the Canadian company’s intentions to expand its U.S. presence, and the deal for San Francisco-based Bank of the West would give it a foothold in the nation’s largest and richest state.

One of the largest M&A agreements of the year occurs as policymakers are locked in a fight over whether to toughen scrutiny of big-bank mergers and acquisitions.