Banco Popular de Puerto Rico

M&T Bank in Buffalo has a deal for Bridgeport, Conn.-based People’s United for more than $7 billion; more people are buying homes sight unseen online as interest rates start to climb.

Yellen says the tests probably won’t lead to imposing capital requirements or limit dividends; the big banks want a global convergence in financial standards to do business in other countries.

The sale, which is set for $2.1 billion, is part of the bank’s plan to reduce its costs; the bank hopes managing stock ownership plans will deepen its reach with tomorrow’s Silicon Valley rich.

The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%.

Thasunda Brown Duckett is one of Wall Street’s most prominent Black executives; the central bank blamed Wednesday’s shutdown of its payments systems on a maintenance mistake.

Jane Fraser, the first woman to head a U.S. mega bank, tries to refresh Citigroup; Omer Ismail, the head of its Marcus unit, will head the retail giant’s new fintech startup.

After hiring two Goldman executives, the retailer could be looking to partner with more banks or become one; the buy now-pay later company is now worth $31 billion and seeking acquisitions.

CFPB nominee says he will focus on inaccurate credit reports and borrowers behind on housing payments; the bank is reopening its trading desk as cryptocurrencies gain wider acceptance.

Investors are worried that failure to extend relaxed bank capital rules might fuel Treasury bond selling; the heavily shorted stock has been whipsawed in volatile trading this week.

It’s not clear how the deal will make money for the digital payments company; the government is providing the funds through CDFIs and MDIs to lend in minority communities.