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"The SEC may not want to answer to Congress on its climate disclosure rule, but ultimately, the SEC will have to answer to the courts — which should make it nervous," the Senate Banking Committee's Pat Toomey warned the agency's chairman, Gary Gensler.

More than 350 investors put money into Agility Bank, a de novo minority depository institution that opened in May. It raised nearly $41 million, well surpassing its $30 million goal.

The Department of Housing and Urban Development is investigating allegations that the real estate appraisal standards written by the Washington nonprofit perpetuate discrimination.

Many leading bank trade associations have called industrial loan companies a regulatory "loophole" that must be closed, but a bipartisan group of senators has their back.

Bank of America is starting a paid sabbatical program to reward its long-term employees, starting with four weeks off for those who have spent 15 years with the company.

The neobank combines digital banking with community-based assistance.

The Consumer Financial Protection Bureau will bring BNPL fintechs under its supervision following a monthslong inquiry into consumer credit risk and data exploitation. "It's critical that this category does not hide in the shadows," says CFPB Director Rohit Chopra.

Consumer spending continues to rise, but last quarter's acceleration in loan growth is starting to lose momentum, and bankers are tempering expectations about fee income. Meanwhile, deposit outflows have yet to result in strong competition for customers' money.

Allegiance Bancshares and CBTX received the final blessing they needed from the Fed to complete their proposed deal 10 months after it was announced. But regulators say the new company must take steps to attract more African American mortgage borrowers.

The National Credit Union Administration rolled out the Simplified CECL tool on Wednesday as accounting standards are set to take effect in early 2023.