The Federal Reserve took action against a small bank in southern Illinois whose exposures to interest rate changes left it with negative equity last year. The enforcement action comes as regulators review their oversight practices following Silicon Valley Bank's failure.

The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

An academic paper establishes a link between tweets about withdrawing money and the bank's collapse.

The fund, which aims to create a self-sustaining, nationwide secondary market for CDFI microloans, has made progress, but it remains far short of its goal, its managing director said.

It's clear that credit unions buying community banks is bad for businesses, bad for communities and bad for government tax revenue.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

The Federal Reserve flagged multiple "deficiencies" at Du Quoin State Bank in an order that bars the Illinois depository from paying dividends without its regulators' approval. The central bank has identified interest rate risk as a key issue at a time when rising rates have contributed to three bank failures.

Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank's proposed takeover of First Horizon, but they were unprepared for its cancellation.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.