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Michael Corbat’s departure comes as Citigroup is facing fresh scrutiny from regulators about its underlying technology and internal controls, work that will continue on incoming CEO Jane Fraser’s watch.

Going green takes time, so lenders need to start revamping entire business relationships now, according to one sustainability-focused nonprofit. That process could include setting environmental goals for fossil-fuels companies and other customers that are conditions for continuing to finance them.

Rohit Chopra, President Biden’s nominee to lead the Consumer Financial Protection Bureau, has not minced words in calling out private companies for wrongdoing. He could get a grilling from Banking Committee Republicans and some opposition on the Senate floor.

The regulator issued a prohibition order to Joseph Guagliardo, who admitted to taking more than $400,000 from the New York City-based institution over the course of nearly a decade.

Ingenious Financial in Arlington, Va., is raising $200 million in hopes of buying an existing bank. Bank of Ingenious would focus on professionals such as doctors, dentists and veterinarians.

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners.

The U.K. should overhaul its stock listing rules and visa requirements to help the country’s fast-growing fintech industry compete after Brexit, a government-backed review has found.

Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina.

Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track everything, which is unproductive.

The bank, formed in 2019 when investors bought and recapitalized Sound Bank, will use the funds to hire lenders and improve its overall infrastructure.