Institutions are hiring aggressively or buying up competitors to take part in an equipment finance boom as the economy continues to heal.

On Dec. 31, 2021. Dollars in thousands.

Increased interest income would boost banks’ lending profitability, but inflation and mounting expenses, along with the specter of potential recession, loom large.

Democrats at a hearing on Capitol Hill contended overdraft fees hurt low-income consumers and should be reined in — with Rep. Maxine Waters proposing to make larger banks offer an account without such charges. Yet Republicans said eliminating the fees would drive some consumers toward predatory lenders and away from small banks.

Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

Moves by bank lobbyists to try to restrict credit union-bank mergers could wind up depriving many consumers of needed financial services.

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.

The $168 million deal would mark the third acquisition of 2022 for Seacoast and continue a years-long effort to bulk up via M&A.

Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.

The acquisitive Massachusetts company said it would pay $146.5 million to acquire Randolph and its $800 million-asset subsidiary, Envision Bank.

The pace of deal activity in 2022 is far lighter than it was a year earlier. "Going forward as an industry, we're going to be more selective because of the elongated approval process,” said Jim Ryan III, CEO of Old National Bancorp. Additionally, rising interest rates have led sellers to demand bigger payouts.

Not all reforms are created equal. Only those truly taking a consumer-first approach — such as curtailing fees and allowing for grace periods — will see lasting benefits in customer loyalty, writes the acting comptroller of the currency.

JPMorgan Chase’s fledgling digital bank is going after more customers in the U.K. with a new savings account.

The Gulfport, Mississippi, bank is joining a number of large and regional banks pledging to reduce or eliminate the charges.

A bet on gambling payments, a step for open banking and more in banking news this week.