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Societe Generale will appoint Slawomir Krupa as chief executive officer, favoring the investment bank chief over retail head Sebastien Proto after a close contest to replace outgoing boss Frederic Oudea. 

The challenger banks Mercury and Nerve are offering networking events, tailored accounts, credit cards and more to attract a once neglected market.

Federal Reserve Gov. Michelle Bowman said Friday that the central bank should weigh financial stability risks against stalled growth as it considers refinements to the bank capital framework and merger rules.

After resolving a longstanding consent order from the Office of the Comptroller of the Currency and a shareholder lawsuit, Sterling Bank's CEO — an experienced turnaround artist — says the bank is largely done fixing the fallout from its fraud-ridden Advantage Loan program.

The bank has issued credit to Slope, a firm offering a form of B2B installment loan. The product is becoming more popular as small companies face mounting financial challenges.

Interest rate increases by central banks have compounding effects and could exacerbate weaknesses in the global financial system, Federal Reserve Vice Chair Lael Brainard argued in a speech Friday.

Federal Reserve Chair Jerome Powell has deflected requests from a top critic, Sen. Elizabeth Warren, for details of financial transactions by central bank officials, risking an escalation of tensions with lawmakers over disclosure issues.

The Consumer Financial Protection Bureau has accused the challenger bank, which charges customers a monthly membership fee, of violating the Military Lending Act and other consumer protection laws. MoneyLion says the allegations are baseless, but some analysts said the consumer bureau appears to have strong claims.

JPMorgan Chase is starting to phase out an offering far more associated with old-fashioned bank branches than today's smartphone apps: safe deposit boxes. 

The SEC and other regulatory agencies have raised the environmental, social and governance ante. Financial institutions will need to find a way to chip in before the stakes are raised even higher.