The Boston company is forecasting larger earnings growth in the first year after closing its $3.5 billion deal than it projected in September. On the flip side, the acquisition will take longer to close than initially expected.

The deal is the latest example of a mainstream bank buying a point-of-sale lender focused on financing home improvement projects.

The government has become more skeptical of mergers, but the Minneapolis company expressed confidence it can maintain its original timeline for the $8 billion acquisition. Separately, it announced substantial changes to its overdraft program that will, among other things, eliminate fees for nonsufficient funds.

The Rhode Island bank estimated that its revised overdraft practices will cost $40 million each year, but it noted that complaints to call centers are down 40% since the policy change.

Valuations for payment technology companies skyrocketed over the past year, pushed by a wave of public listings and record venture capital investments. Some potential acquirers are waiting for prices to cool.

The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.

SoFi Bank, which is expected to open next month, emerges from the company’s purchase of a small community bank in California. It will not be allowed to engage in crypto-asset activities without its primary regulator’s approval.

The companies originally hoped to complete the deal in late 2021. The buyer chalked up the delay to an overburdened Federal Reserve, rather than any problems with its application.

Citigroup, which has been shedding some of its retail operations as part of a global revamp, is in advanced talks with Taiwan’s Fubon Financial Holding for a sale of its mainland China consumer business, people familiar with the matter said.

Citigroup is offloading its consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam as CEO Jane Fraser continues her push to simplify the New York-based bank.

Banco Santander is among lenders exploring bids for Citigroup’s retail banking operations in Mexico, according to people with knowledge of the matter.

Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.

The $3 billion-asset company is expecting to add seven branches in the northwestern part of the state, and to expand its commercial lending business in the Toledo market, with the acquisition of Comunibanc Corp.

Toronto-Dominion Bank Chief Executive Bharat Masrani said additional share repurchases would be a possible use of the lender’s excess capital if it doesn’t deploy those funds in a major acquisition.

Royal Bank of Canada Chief Executive Dave McKay said the lender may seek to add to its wealth management unit in the U.S. and Europe through smaller, targeted acquisitions.

The Nebraska Department of Banking and Finance recently denied GreenState Credit Union's deal to acquire Premier Bank in Omaha. The bank said it hopes to get the ruling overturned.

Some policymakers have been calling for a temporary halt to large bank deals while the criteria for approvals are reevaluated. Yet Congress was clear about its intention to stop regulators from holding up bank mergers, argues the head of a trade group for large financial services companies.