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Banks like BNY Mellon can compete with payment tech startups, or they can partner with them to make the most of their innovations. But in doing so, they give a potential competitor a direct line to the bank's sizable customer base.

The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.

The New York bank's agreement to pay $204 million in stock for Salisbury Bancorp moves NBT into complementary markets in Connecticut and Massachusetts while boosting an already substantial wealth management operation.

The Texas company has set up commercial banking offices in Charleston and Greenville, and it has established a private banking office in Atlanta. Its long-term goal is to build a branch network in some key Southeastern markets.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

The Connecticut bank plans to add interLINK to its diverse stable of deposit-gathering businesses. A community bank in Texas had previously reached a deal to purchase the platform, but that transaction fell apart in September.

A federal judge will soon decide whether depositors at Celsius Network gave up ownership of their cryptocurrencies in exchange for interest payments, a key legal issue that could echo through other crypto bankruptcies.

The crypto lender Nexo Inc. is phasing out its products and services in the U.S. market after facing cease-and-desist orders from multiple states over its interest-earning products.

Circle Internet Financial, the issuer of the world's second-largest crypto stablecoin, said its planned merger with the special-purpose acquisition company Concord Acquisition that was once valued at $9 billion has been called off.

The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia says the central bank is playing by its own rules.