JPMorgan Chase and Citigroup are funneling more investment into China, even as relations between the countries sour and Washington bans U.S tech investments that could bolster its rival's military capabilities.

UBS Group AG decided to end an agreement with the Swiss government to cover losses it could incur from the rescue of Credit Suisse, a sign that the mammoth integration is on track and the stricken lender's assets might be less troublesome than initially feared.

After eight years leading one of the nation's most prominent Black banks, Michael Pugh will become chief executive of the Local Initiatives Support Corporation.

The Alabama bank is rolling out an online platform for corporate clients to manage billing-related communications with their own customers.

Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.

Ybarra, who leads the megabank's sprawling institutional clients group, plans to depart in the first half of next year. Citi says it's assessing how to allocate his responsibilities.

Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.