A new study finds that in the six months after a rate cap was imposed in Illinois, the number of subprime loans being made declined, and subprime borrowers reported a decline in their financial well-being.

The upstate New York company said in a regulatory filing that Daniel Reininga, who has been chief executive for 12 years, will retire on March 10, following a cybersecurity attack and an OCC crackdown.

Senate Banking Committee Chair Sherrod Brown wants regulators to hold public meetings on branch shutdowns in situations where community members request them. His request follows opposition to a closure in a low-income section of Toledo, Ohio.

Robert Hill Jr., who had been CEO of the company before it merged with CenterState Bank in 2020, will resign in April. The company says it's replacing his position with a nonexecutive chairman "as part of a broader, ongoing effort to enhance the independence of the company's board."

The activist investor is crying foul, claiming the Dallas-based bank harassed one of his board candidates into withdrawing and rejected the nomination of another. The bank says the candidates failed to make full disclosures.

The Illinois company is smaller than other banks that have done away with the charges, but it's been substantially less reliant on overdraft revenue than some depositories. Wintrust executives explained the decision as a response to technological changes in consumer banking.

The results came a day after it emerged that Canada's second-largest bank doesn't anticipate regulators will approve its deal for Memphis, Tenn.-based First Horizon Corp. by May 27, as it previously projected.

In three years as a subsidiary of $3.2 billion-asset MVB Financial, Chartwell Compliance has tripled its headcount and revenues, MVB CEO Larry Mazza said Wednesday, after announcing Chartwell's sale to New York-based Ankura.

The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one.

Credit card issuers say they need more time to respond to the substantial data request made by the Consumer Financial Protection Bureau in its proposal to slash late fees.

Archway, which will help community and regional banks integrate third-party providers with their existing systems, has raised $15 million of venture funding in connection with the spinoff.

A group including Dr. Bernice King, Martin Luther King Jr.'s daughter, and former SBA Regional Administrator Ashley Bell says the deal struck Tuesday to acquire Holladay Bank & Trust in Utah marks the first time Black investors have acquired a non-Black bank.

While Goldman Sachs is still pushing to make its expansion into consumer lending profitable, the bank is also weighing strategic alternatives, CEO David Solomon says. The dueling options reflect the problems that Wall Street giant faces in Main Street banking.

The company has agreed to acquire the parent of Peoples Bank in a deal expected to close in the third quarter.