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The Senate Banking Committee's top Democrat singled out Morgan Stanley and Goldman Sachs, which he said "got passing grades" despite being unable to maintain minimum required capital levels.

People welcome help managing their money, and they don’t mind their own data being analyzed, as long as the result is easy-to-digest information and recommendations they can act upon, JPMorgan’s Kelli Keough said at the In|Vest conference.

Coastal Financial in Everett, Wash., said that it could be active in M&A with capital from its IPO and that it has already identified several possible targets.

Level One Bank in Farmington, Mich., has hired a team of mortgage bankers from MB Financial, which previously announced it was shutting down this business line.

When GDPR went into effect in May, it was expected that the European law would touch a lot of U.S. payment companies because of their international scope. Now it's clear that even purely domestic U.S. firms will have to adhere to some version of the data-privacy law.

Beyond investing: Our opportunity to help customers more holistically

Despite some criticisms of the strategy, community banks should continue to pair up with fintech companies that can help them expand their digital offerings.

A lack of standardization increases costs and complexity at each bank, opens the door to insecure solutions and hinders adoption by software developers that only have bandwidth to write to one or two open APIs, according to Steve Kirsch, CEO and founder of Token.

There are serious consequences for firms that do not embrace the latest tech tools, says Kelli Keough, the global head of digital wealth management for JPMorgan Chase.

Restaurant point of sale and back-office management provider Toast has received $115 million in Series D funding that the company plans use to develop technology and expand its market.