The 22nd State Bank in Mobile has been developing its national Always.bank subsidiary over the past year. 22nd State, which was founded in 1917, eyeing a summertime launch for the online unit.
The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.
The payment company will waive transaction fees totaling about $30 million for veteran-owned, farming, manufacturing or technology-based small businesses following an investigation into a six-year-old former investment program designed for Black and minority-owned small businesses.
The largest U.S. bank by assets announced a series of leadership changes affecting its global investment banking business, including three new co-heads to oversee the segment.
An annual Federal Reserve survey of nearly 13,000 respondents found that households generally felt financially secure in 2025, though many cited rising prices as a lingering concern.
