What's behind the unlikely First Citizens-CIT deal
The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.
Ex-Trump adviser Cohn predicts bleak future for community banks
Gary Cohn, former head of the Trump administration's National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.
An attempt to make point-of-sale payment devices obsolete
MagicCube's i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.
New pressure on banks to offer affordable consumer accounts
Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.
Comerica prioritizes forgiveness of larger PPP loans
The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.
Powell says Fed's digital currency should complement payments system
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.
Community banks that were pushed past key asset limits by the Paycheck Protection Program say they will be unable to shrink their balance sheets back to normal size by the 2022 deadline, especially if there is a new round of rescue aid.
The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.