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The number of U.S. bank branches dropped by a record 2,927 last year as lenders both large and small sought ways to cut costs and keep pace with a digital transformation sweeping the finance industry.

The merger of FVCBankcorp and Blue Ridge Bankshares, which has faced criticism from student borrower advocates, would have created a $5 billion-asset bank. The deal was delayed last year after the Office of the Comptroller of the Currency raised concerns.

Christopher Del Moral-Niles, who has been at the Wisconsin bank since 2010, is credited with helping the company raise capital, exit the Troubled Asset Relief Program and improve its ratings profile.

Grupo Financiero Banorte is seen as the top contender among potential bidders to buy Citigroup’s Mexican consumer banking operations, according to analysts at Credit Suisse Group and Bank of America. 

The question is unfair to people who have never been found guilty or have been accused of minor offenses. It’s especially unfair to minority applicants.

Bank of America revamped leadership across its wealth management business, placing more responsibilities on current heads Andy Sieg and Katy Knox.

JPMorgan Chase raised Chief Executive Jamie Dimon’s total compensation 10% to $34.5 million for his work in 2021, the firm’s most profitable year on record.

Though the retailer's threat to drop Visa in the U.K. appears to have subsided, companies like Clik2pay, Affirm and Curve have seized on an opportunity to advance account-to-account transactions, buy now/pay later and cryptocurrency.

A long-awaited report from the Federal Reserve is a historic step toward the possible development of a central bank digital currency. But the Fed emphasized it would not create one without a clear directive from Congress and the White House.

Fourth-quarter profits rose 10% at the Cleveland company as investment banking income hit a record and nonperforming loans plummeted. Executives say charge-offs will probably start rising in late 2022 but that fee income from capital markets transactions will keep growing.