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The buyback pause is meant to allow the bank to get to a 13.2% common equity Tier 1 ratio by next March, comfortably clearing a higher bar recently set by regulators. Meanwhile, net income fell 28% to $8.6 billion in the second quarter.

Consumers are feeling less confident about their economic prospects, and investors worry their loan repayments will slow. Those fears have led to large drops in stock prices for consumer finance companies, particularly for those who lend to borrowers with lower credit scores.

While larger lenders retreat from the sector, SouthWest Bank recruited a new team to lend to drillers.

The former Treasury official and University of Michigan administrator’s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade.

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

Plaid co-founder William Hockey and his wife, Annie, have created a way to let clients co-develop programmable bank accounts.

As Celsius Network’s customer withdrawal freeze enters a full month, the beleaguered crypto lender has paid back a string of debts totaling more than $900 million during the same period to decentralized-finance platforms. 

Credit unions generally struggle to make agricultural loans because the market is saturated by more experienced lenders. But they can develop the expertise — or acquire it through M&A.

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

In global news this week, buy now/pay later companies Zip and Sezzle call off their merger, BBVA sets a higher target for women in management, ABN Amro debuts a digital wallet for gig workers, and more.