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The partners aim to lend $150 million in the next three years to sellers from "socially and economically distressed communities."

Royal Bank of Canada's investment banking arm held a round of layoffs in the U.S., according to people with knowledge of the matter.

The Biden administration was accused in a lawsuit by six Republican-led states of overstepping its authority with a plan to forgive federal student loans.

The Federal Reserve, state supervisors and other bank regulators said they would not penalize institutions that work with impacted borrowers following devastating storms in Florida and Puerto Rico.

JPMorgan Chase, Morgan Stanley and Wells Fargo received poor marks on political spending and steps taken to support democratic initiatives.

A federal judge found that the Consumer Financial Protection Bureau overstated the costs and understated the negative impact of exempting 1,700 financial institutions from reporting Home Mortgage Disclosure Act data.

Brian J. Kelleher is a partner at Fiondella, Milone & LaSaracina LLP (FML CPAs), an accounting and advisory firm in Connecticut.

U.S. banks closed almost 3,000 more branches than they opened last year, but credit unions' branch count crept up in the second quarter despite consumers' heavier reliance on digital channels for account management.

The number of banks has fallen by roughly two-thirds since the 1980s, and there is almost unanimous consensus that more consolidation is inevitable.

Canadian Imperial Bank of Commerce set a goal of reducing the carbon-emissions intensity of its lending to power generators, adding to targets it has already placed on the oil and gas industry.