The bank's $4.6 billion commitment is smaller in size and shorter in duration than a previous plan. It also pledged $9 billion to sustainable finance initiatives over the next three years.

Longstanding factors such as the share of local deposits held by each bank will no longer be the main considerations in determining the competitive effects of a deal, said Assistant Attorney General Jonathan Kanter. His speech was interpreted as a hint that banks seeking merger approvals could face tougher times ahead.

Trucking companies saw a boom during COVID as homebound consumers spent big on goods that needed to be shipped. Now comes the bust, with some firms going bankrupt or struggling to pay back their loans.

Senate Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, and ranking member Sen. Tim Scott, R-S.C., will have to contend with members of their own parties who would prefer a more sweeping executive compensation clawback bill.

The American Bankers Association's Economic Advisory Committee said access to loans is likely to further soften, while defaults and credit losses could increase in the second half of the year.

California regulators are suggesting that programs that allow workers fee-free access to their earnings between pay periods should be treated as loan products. That's wrong and short-sighted.

Answers that used to take employees 15 minutes to find, they can now obtain in seconds using the enterprise version of ChatGPT.

Banks and credit unions have come out against the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, saying that figure is too low to cover costs. Finding a more suitable number might save the bureau a lot of trouble.

Smith joined the bank in January after serving as president of Keller Home Financial Services and heading Citi's U.S. mortgage business.

NomuPay has acquired parts of the disgraced processor that could help it overcome the barriers of entry to the lucrative market.

Understanding the different aspects of new technologies and how they extend existing financial systems is essential for fostering a healthy relationship between banking and emerging innovations.

Decision-making algorithms powered by machine learning are seen as the next frontier for a more nuanced approach to mortgage decisions but skeptics worry this will just be a new way to discriminate.

The American Bankers Association's credit conditions index remained near historic lows despite a slight uptick in the most recent quarter. Pessimism pervaded the outlook for both business and consumer lending.

Lake Trust Credit Union in Brighton, Michigan, works with a development agency in Lansing to provide entrepreneurs with the financial and educational support they need to go it alone.

The regional bank is taking its core transformation slow and steady, starting with deposits, according to Jay Poole, head of consumer products technology.

As it pushes the boundaries of its Midwestern footprint, the Columbus, Ohio-based bank is on pace to book more than 6,000 7(a) loans in SBA's 2023 fiscal year, the biggest total in seven years.

House Financial Services Committee Chair Rep. Patrick McHenry, R-N.C., pressed the Financial Stability Oversight Council on the resurrection of its ability to designate nonbanks as systemically important.

For years, the Japanese-owned bank engaged in deception with respect to three different kinds of fees, regulators found. U.S. Bank inherited the liability when it acquired MUFG Union last year.

The Alabama bank, which has been sanctioned by regulators for its overdraft practices twice in the last eight years, joins several competitors that already offer a grace period to overdrawn customers.