The FDIC proposed a new policy to intensify scrutiny on U.S. bank mergers Thursday that emphasizes the resulting institutions' financial stability and ability to serve its community's needs.

Instability in mortgage rate movements should continue in the weeks ahead, even with Fed Chairman Jerome Powell's comments on inflation.

Funding Circle, one of the fintechs that received an SBLC license last fall, lost $5 million in 2023 and plans to focus on its U.K. operations. Republican skeptics of the SBA seized on this, and Administrator Isabel Casillas Guzman's renewed push for the agency to make direct loans.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it's paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.