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Although higher corporate debt could hurt the economy, Federal Reserve Chair Jerome Powell argued changes made since the last crisis will guard against a meltdown.

Sens. Sherrod Brown, D-Ohio, and Chris Van Hollen, D-Md., called on the bank to explain a report that the private wealth management division quashed anti-money-laundering reports prepared by compliance staff.

American Bank & Trust opened after organizers raised more than $22.5 million.

Teresa Tanner, one of American Banker’s Most Powerful Women in Banking, is stepping down as the bank’s chief administrative officer to focus on larger societal issues, such as helping women advance in the workplace and creating economic opportunities for minorities and people with disabilities.

Kristen Donoghue had been one of the agency's few remaining senior enforcement managers hired by former Director Richard Cordray.

Otoe-Missouria Federal Credit Union in Red Rock, Okla., was designated as a low-income institution.

Credit unions are helping out in a number of ways, including one institution that provided scholarships to student who excelled at a game about personal finance.

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday.

The Bay Area is a booming market with a limited number of smaller banks. The high premium Presidio is receiving from Heritage Commerce might spark more M&A activity.

Mark Calabria said he wants Fannie Mae and Freddie Mac to take preliminary steps by Jan. 1 toward exiting conservatorship.