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The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

CEO David Boyle said that the change could provide the Alexandria company with better access to the capital markets and liquidity for shareholders.

A recent report found that less than 5% of challenger banks are breaking even. Will these startups be able to achieve profitability before investors’ patience wears thin?

The legislation, sponsored by Rep. Carolyn Maloney, D-N.Y., is said to have been withdrawn from consideration by the House Financial Services Committee because it lacked the necessary Democratic votes to pass.

Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of the bank’s expansion beyond its Manhattan base.

Several Democratic bills to support down-payment assistance for mortgage borrowers and other housing programs met with protests from Republicans, who said the legislation would further fuel inflation. The GOP maneuvers failed, but they highlighted the parties’ differing priorities ahead of the midterm elections.

Federal Reserve Chair Jerome Powell said the Board of Governors has a limited role in determining which firms are granted master accounts, an emerging point of contention between Congress and the central bank. 

In global news this week, Walmart and Payoneer team up for U.K. e-commerce, metaverse banking advances in Italy, Stripe expands its global bank transfer footprint, and more.

The Consumer Financial Protection Bureau issued a proposal that could ultimately lead to tougher limits on what banks and other issuers charge cardholders for late payments.

The Government Accountability Office said that examiner guidance at the Office of the Comptroller of the Currency didn’t take into account new statistical methods to uncover potential redlining.