A dramatic last-minute drop is occurring in a corner of the market for collateralized loan obligations ahead of a deadline for U.S. banks to get rid of some of their holdings.

Community Bank System and Oneida Financial, both of western New York state, have delayed the closing of their merger after settling a shareholder lawsuit that challenged the deal.

Wells Fargo and Toronto-Dominion Bank are exploring offers for a batch of U.S. commercial-lending businesses General Electric is selling as whittles down its finance arm.

The mortgage lender Nationstar Mortgage Holdings is pouring a lot of energy into a digital and mobile homebuying platform called Xome. The strategy could attract tech-savvy millennials but carries plenty of risks including whether consumers would be improperly steered to its products.

Big banks and institutional lenders approved small-business loans at record rates in May, according to data from Biz2Credit.

New Buffalo Savings Bank in Michigan has filed plans to convert from a mutual thrift to a stock-owned institution.

Diebold contacted Wincor Nixdorf about a potential acquisition last week, according to a person familiar with the matter who asked not to be identified because the matter is confidential.

CommonBond, a marketplace lender specializing in private student loans, announced its first securitization Wednesday.

The California Reinvestment Coalition has called for a federal investigation into the foreclosure policies of OneWest Bank in minority neighborhoods.

HSBC executives have suggested for months that big changes were coming to its U.S. unit, but the overhaul was less drastic than some had called for. The parent company's CEO defended the decision as necessary to preserve key funding sources and client relationships.

The company, once in the crosshairs of a community group for how it complied with the Community Reinvestment Act, is aiming to raise $200 million with other banks for a fund that will work with local leaders to identify the best way to invest in low-income and underserved neighborhoods.

Piper Jaffray has hired several more executives from Sterne Agee Group, as it expands its financial institutions group.

James Sills, who runs a 107-year-old bank in North Carolina, believes the key to the survival of minority-owned institutions is their ability to adapt and reach more customers. M&F Bancorp, for instance, is changing the name of its bank and recently added its first nonblack director.

Egypt's Commercial International Bank agreed to acquire Citibank Egypt's retail unit as the U.S. bank withdraws from less profitable emerging-market businesses.

General Electric agreed to sell its U.S. private-equity lending business and a $3 billion bank loan portfolio to Canada Pension Plan Investment Board for about $12 billion.

Choice Financial Holdings in Fargo, N.D., has agreed to purchase Northland Financial in Steele, N.D.

A breakdown of M&A announcements in the financial services industry for the week ended June 6.

AMG National in Denver has bought a minority stake in an applications and software developer.

Many community banks are trying to determine the right balance of in-house staff and outsourced assistance in the area of risk management. Cost cutting and regulatory oversight loom large over such decisions.

Fulton Financial in Lancaster, Pa., will issue $150 million in subordinated debt to fund the redemption of a separate portfolio of debt securities.