The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.

House Financial Services Committee ranking member Maxine Waters, D-Calif., asked bank regulators to give banks the supervisory clearance to extend lines of credit and modify loan terms for federal employees furloughed after the government shut down last week.

Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to "groupthink."

The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.

The messaging service is building a network of banks to support the technology that underpins digital currencies. Technology experts say this "single location" concept encourages legacy institutions to adopt digital assets, but it's just one of many options.

Chayt said the bank has been able to onboard customers "at the speed of fintech" rather than "the speed of banking."