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The Rosemont, Illinois-based bank said its longtime CEO Ed Wehmer will retire from the post in May and become executive chairman. Timothy Crane, who joined Wintrust in 2008 and became its president in 2020, will take over the top job.

The company's first-ever acquisition, of Power Finance, will allow it to fuel a banking-as-a-service model for credit cards and other financial products under the direction of its new CEO, Simon Khalaf.

A senior Commodity Futures Trading Commission official says the agency needs the power to approve or reject an unregulated company's acquisition of a derivatives exchange.

Gemini Trust, the crypto exchange run by the Winklevoss brothers, hired a fintech veteran as new head of finance even as it undergoes another round of layoffs and deals with uncertainty over whether users of its Earn program will get their money back.

Banks need to be cautious about negotiating pre-merger Community Benefit Agreements with nationwide activist groups. The deals carry real reputational hazard.

Credit Acceptance Corp., a major name in subprime auto finance, is facing a legal challenge over its lending practices. Some lawyers and analysts say the company's battle with the Consumer Financial Protection Bureau has broader implications for the rest of the industry.

The Federal Reserve Bank of Kansas City's decision comes just hours after the Federal Reserve Board of Governors blocked the digital asset bank's bid to become a member bank.

Uncertainty surrounding the regulatory approval process and overall economic conditions will act as a brake on bank mergers and acquisitions in 2023, says John Corbett, CEO of Florida-based SouthState.

Goldman Sachs Group cut Chief Executive David Solomon's compensation by about 30% to $25 million for 2022, a year in which the share price and profit tumbled and the firm retreated from a highly public effort to create a consumer bank.

Treasury Secretary Janet Yellen said the only solution to avoid a U.S. default crisis is for Congress to increase the federal debt limit, avoiding engaging with other proposed stopgap measures including short-term extensions or spending cuts.