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The purchase of Vinings Bank in Smyrna, Georgia, is the year's first instance of a credit union buying a bank. There were 13 such acquisitions announced last year.

Chris McMahon was Senior Editor for Insurance Networking News.

Investors are souring on BNPL companies despite strong consumer demand, as the business model for short-term installment loans faces fee pressure, heightened competition from banks and the specter of a regulatory crackdown.

The Northeastern banks had aimed to wrap up their deal by Feb. 21, but the Federal Reserve — the last of the regulatory authorities they need approval from — hasn’t signed off yet.

While Wall Street banks press employees to return to the office this month, its regulators in Washington are largely sticking with a flexible approach to remote work.

The Federal Reserve formally adopted tough, sweeping restrictions on officials’ investing and trading, aiming to prevent a repeat of the ethics scandal that engulfed the U.S. central bank last year.

Super Bowl ads' impact, another overdraft-fees ouster, and more in banking news this week.

The Providence, Rhode Island, bank expects to finalize its purchase of 80 HSBC Bank branches on Friday and complete a systems conversion over the weekend. Its pending deal for Investors Bancorp is on track to go through early next quarter, Chief Financial Officer John Woods said.

Government officials spend a lot of time criticizing banks for gouging customers even though their own statistical reports demonstrate that fees are not a major issue for consumers.

Eun Young Choi, a senior counsel for cybersecurity at the department, will be in charge of the federal effort to chase thieves and fraudsters involved with digital assets.