The company now has 35 million users worldwide and launched new features this summer that include automated investing and expanded account access for non-citizens living in the U.S. But the features come amid controversies at the fintech.

Central Valley Community Bancorp's agreement to buy Community West Bancshares, slated to close in the second quarter, would create a $3.6 billion-asset bank in the Greater Sacramento region.

Brown, who's been Ally Financial's top executive for nearly nine years, joined the company 14 years ago and played a key role in reshaping it after the financial crisis. He will become the president of a large auto dealer group.

Blue Ridge Bank in Virginia changed course after its rapid growth in the fintech partnership business landed it in hot water. But the path back to a traditional community banking model is also proving to be bumpy.

Other banks likely will follow the lead of the Richmond, Virginia, company and tap the equity in their branch networks as alternative sources of capital grow more costly, experts say.

Lenders at an American Bankers Association conference this week railed against proposed regulatory requirements they argue could drive up costs, curb credit availability and ultimately hurt borrowers in already fragile economic times.

Truist Bank has agreed to pay licensing fees to USAA for the use of mobile-check-deposit technology that USAA says it invented.

The Fed's meteoric increase in the federal funds rate over the last 18 months has left banks holding billions in unproductive investment securities. Helping them would be good for the economy.

First Citizens extends its brand to CIT business lines, Discover launches TV campaign for debit account, Southern Michigan Bancorp announces leadership transition and more in the weekly banking news roundup.

If the industry keeps consolidating at its current rate, there will be roughly 500 banks in 20 years. That will likely mean the loss of competition and choice for customers in some markets.