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As customers rushed to withdraw their deposits from the bank and applied for accounts at other institutions, criminals took advantage of the chaos.

Travis Hill, the Republican vice chair of the Federal Deposit Insurance Corp., said poor interest rate risk management caused last month's bank failures and denounced calls to reinstate tighter supervisory standards on midsized regional banks.

"Our leaders ... have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings," the company's operating committee said in a memo to employees.

Minority depository institutions are well-placed to direct money from the Greenhouse Gas Reduction Fund to high-impact projects in underserved communities.

Bank of England seeks CBDC experts, BNP Paribas' bonus pool gets larger and more

Sen. Tim Scott of South Carolina, the Senate Banking Committee's ranking Republican, said that Democrats create a "culture of grievance" that the "truth of my life" belies.

The decrease in long-term interest rates this year has helped banks' bond portfolios recover a bit. Some of them may consider restructuring their securities portfolios in the short run, and longer-term changes are also possible as the fallout from last month's crisis continues.

All eyes will be on the minutes from the March meeting, set to be released Wednesday at 2 p.m. in Washington, for details about the debate over bank failures and how to respond.

Despite growing concerns about fraud, bankers and credit union lenders say PPP provided a crucial source of capital, backstopping the economy as it faced an unprecedented challenge from the pandemic.

Marqeta's new CEO faces steep challenges in dismantling the fintech's heavy dependence on Square and finding alternative sources of revenue as consumer spending slows.

Banks and credit unions compete head-to-head in many markets, so credit union CEOs take advantage of bank earnings season to gain a little extra intel. But many will scour first-quarter results as closely as ever to determine the impact of the banking crisis on deposits flows, lending and the overall economy.

Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.

Rick Hein, who has been the chief executive of the financial institution for 23 years, plans to depart next year.

The Twittersphere erupted last week with incorrect conflations of the Federal Reserve's imminent faster payments network and exceedingly nascent interest in a central bank digital currency. Those misunderstandings could pose a real risk to FedNow implementation.

The Columbus, Ohio, company expects to record a pretax gain of $57 million from the transaction, which will more than offset the costs of two other recently announced initiatives.