Canada

KeyCorp wasn't seeking capital but saw the benefits of Scotiabank's minority stake. The deal would enable the Canadian lender to step into the U.S. consumer market.

VersaBank in London, Ontario, agreed nearly two years ago to buy a small Minnesota bank. The buyer's CEO says he remains hopeful approval will come soon.

Despite further delays, the country has taken two key steps to opening up access to its Real-Time Rail, including allowing payment companies to participate without a bank partner, but it has yet to commit to a date for the project to go live.

The Canadian bank reported a 70% decline in profits at its U.S. commercial banking and wealth management unit in the most recent quarter and boosted reserves amid distress in the commercial real estate market.

The Montreal-based bank reportedly hired JPMorgan Chase to consider its options.

Canada's banking regulator is proposing to make it more costly for lenders to accommodate mortgage borrowers who stretch out their loans in an effort to limit housing-market risks in the financial system.

The pending deal will help keep the Canadian bank's funding costs low, since Bank of the West has a strong core deposit portfolio, executives said Tuesday. BMO is sticking with its year-end timeline for closing the acquisition.

Net income at the Toronto-based bank dipped by double digits during the fiscal third quarter. But the company's U.S. operations, including City National Bank in Los Angeles, fared better.

The Canadian banking giant reported a 22% increase in loan balances, with the largest contribution coming from the United States. The surge in lending helped to compensate for weakness in debt and equity issuances.

Apple and Affirm's PayBright are planning to launch a buy now/pay later program for Apple device purchases in Canada, stepping up the iPhone maker’s ambitions to offer more financial services.