Truist Foundation will fund a multiyear economic development initiative to revitalize business corridors in five Southeastern cities; First Horizon has hired Wells Fargo's Shaun McDougall to head consumer banking; Ally Financial commits over $150 million to support workforce development; and more in this week's banking news roundup.

Washington Trust Bank is executing a slow-but-steady de novo expansion inside the I-5 corridor on the western side of its home state. Its newest branch is slated to open this fall in Tacoma.

The Ohio-based bank opened its first branch in Alabama, with plans to open 14 more over the next three years.

With its acquisition of a Cleveland-area bank still in the works, the Cincinnati-based bank struck a deal that would provide its first retail presence in Chicago.

Amid waning federal support for community development financial institutions and minority depository institutions, a program launched by two banking trade groups is beginning to generate a steady stream of deposits for mission-focused lenders.

Revenues were up for the quarter, but stock compensation-related expenses brought the neobank to a negative net income.

In this week's banking news roundup: Fulton Financial's Angela Snyder announces plans to retire as president of the Lancaster, Pennsylvania-based bank; Columbia Banking System in Tacoma, Washington, finalizes plans for its latest acquisition; Flagstar Financial opens its first private banking office in Florida; and more.

Slashing capital requirements for the largest banks shows where the Federal Reserve's priorities lie — and it's not with community banks. This will make it even harder for small banks to compete with their larger peers.

We've just lived through a repeat of Operation Chokepoint, the federal effort to deny banking services to disfavored companies and individuals. We must know the full story so it can never happen again.

Berkshire Hills Bancorp and Brookline Bancorp are eyeing a September closing for their merger of equals, to be followed by a phased rollout of the new Beacon Bank & Trust brand.

Coastal Community Bank reported smaller profits in the second quarter as it prepared for a growth spurt. "We think we're winning the right business," said CEO Eric Sprink.

The New York-based digital-only bank is seeking to partner with more brands after a recent deal opened the way to serving millions of AAA customers.

High interest rates and tough economic conditions played a role in the credit woes that overcame BayFirst Financial's small-dollar lending effort.

Last year, scammers tricked 11,000 people — many elderly — to send them money through ATMs for Bitcoin and other crypto. The payments are often irreversible.

The current system of communicating the terms and conditions of banking services fails everyone. Banks spend enormous resources on compliance theater while customers remain uninformed about their actual rights and risks.

A threat group used physical implants and evasive malware to infiltrate ATM networks and attempt fraudulent withdrawals. Here are their tactics and techniques.

President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.

Deal for Clay County Savings Bank leaves Verimore Bank primed to add market share in a fast-growing Kansas City neighborhood

Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week's banking news roundup.