Bank trade groups filed a motion for a preliminary injunction to stop the Consumer Financial Protection Bureau's $5 overdraft fee rule from going into effect late next year.

The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million deal.

Fintechs and their partner banks are keen to hold the industry to high standards of regulatory compliance in the interests of everyone's reputation.

For the third time in five years, the Office of the Comptroller of the Currency issued an enforcement action against the beleaguered bank. It bars USAA from adding new products or loosening its membership criteria without evaluating the risks of getting bigger.

The Federal Reserve lowered its policy rate but signaled a more "cautious" approach to future cuts in light of higher inflation expectations. Policy uncertainty was one of several contributing factors to that change in forecast.

The Federal Reserve and OCC approved the company's plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.