Greenwood Financial and The Gathering Spot, a network of private clubs for the Black community, say they have reached an agreement after six months of lawsuits.

BMO Financial Group will enable payments, hold deposits and more for Grounded Technologies, a company that sources funding for banks from a diverse mix of asset managers.

The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.

Bank loyalty platform provider Wildfire Systems unveils a tool that could enable banks to earn revenue from merchants when customers click on personalized offers embedded in content via generative AI.

Credit metrics are deteriorating as more cardholders fall behind on their payments. But bank CEOs detect few causes for alarm, saying they plan to stay in growth mode since most consumers have stayed current.

Banks may be trying to pay less of a special assessment to recoup the losses to the deposit insurance fund after the regional bank crisis this spring.

Nearly three out of five respondents to a Bloomberg survey said they would most like to work for the CEO of JPMorgan Chase. That was enough to make Dimon the most popular choice out of a list of the leaders of six big banks.

The era of banks being customers' sole source of financial services is long gone, and regional banks need to accelerate their adjustment to that fact.

The regional bank told analysts that it has studied how much debt it would need to raise based on an effective post-reform capital floor of 6% of risk-weighted assets, and has determined that that increase in capital would be manageable.

The Dallas-based company, which saw $3.7 billion of deposits withdrawn after Silicon Valley Bank failed, now predicts average deposits will fall 14% to 15% compared with last year. However, the pace of outflow is slowing, say the bank's executives.

Broker-dealers, investors and clearing companies, among others, will have to upgrade their operations and technology to meet SEC regulations.

The Ohio-based regional bank continued to drive loan and deposit growth in the second quarter. But lending activity is expected to ease while funding costs remain high, tempering net interest income expectations for the full year.

FNB Corp. and Bank of America are experimenting with ways to meld the benefits of account-opening in a branch with the efficiency of online.

Executives of the regional bank say they are zeroing in on its most profitable business lines and moving away from one-off customer relationships that don't generate as much revenue.

The Cincinnati bank said that it plans to reduce originations in the segment by 15%. It is leaning into businesses that provide an opportunity to build deeper customer relationships.

Chairman and CEO Chris Gorman said Key's reduction efforts were prompted by an expectation big banks will be expected to operate with significantly lower loan-to-deposit ratios going forward.

The Columbus, Georgia, bank is selling a $1.3 billion portfolio as part of a plan to pay off higher-cost funding. Though there are rising concerns about the office sector, Synovus said the loans it's offloading have pristine credit quality.

Discover Financial Services' stock tumbled after revealing a new FDIC consent order regarding consumer compliance. Separately, the financial institution also copped to misclassifying certain credit card accounts into its highest merchant-pricing tier beginning in 2007.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

Officials at the central bank have been discussing a real-time payment system for a decade. Work on FedNow began in 2019.