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Nonbanks that refer to "deposits" and "APY" interest payments are drawing scrutiny from regulators, and some observers say Congress needs to clarify what nonbanks can say about their interest-bearing offerings.

The Federal Housing Finance Agency head has said: "The status quo is not acceptable." She could not be more correct.

The Illinois company is smaller than other banks that have done away with the charges, but it's been substantially less reliant on overdraft revenue than some depositories. Wintrust executives explained the decision as a response to technological changes in consumer banking.

The results came a day after it emerged that Canada's second-largest bank doesn't anticipate regulators will approve its deal for Memphis, Tenn.-based First Horizon Corp. by May 27, as it previously projected.

Democrats on the Banking Committee, led by Sen. Jack Reed of Rhode Island, say the peer-to-peer payments network's customer reimbursement and anti-money-laundering policies need more thorough scrutiny.

Credit unions have individually made progress in making their ranks more diverse and inclusive, but their efforts are starting to bump up against the political discourse over "woke" corporate cultures.

President Joe Biden's nominee to lead the World Bank said there's sufficient scientific evidence that burning fossil fuels contributes to climate change, seeking to address criticism about the lender's commitment to the issue under its outgoing chief.

In three years as a subsidiary of $3.2 billion-asset MVB Financial, Chartwell Compliance has tripled its headcount and revenues, MVB CEO Larry Mazza said Wednesday, after announcing Chartwell's sale to New York-based Ankura.

Nationwide Building Society and HSBC Holdings toughened limits on retail customers' access to cryptoassets in the last week, becoming the latest U.K. banks to impose curbs after industry scandals and regulatory warnings.

Jack Dorsey's digital payment company Block said it will be using its own bitcoin reserves to provide liquidity to bitcoin's Lightning Network, a protocol meant to make transactions on the blockchain more efficient.