Jeremy Kress, a law professor at the University of Michigan, filed a petition for rulemaking to two bank regulators, asking them to adopt an unaffiliated director standard for larger banks to address conflicts of interest between banks and their holding companies.

Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.

Through a partnership with technology firm ServiceNow, the card network is offering ways to reduce banks' cost and complexity of resolving disputed transactions.

Banks historically have been averse to challenging their regulators in court, but a suit over the recently finalized Community Reinvestment Act implementation rules is a signal that the times have changed.

The regional bank announced a leadership shakeup on Wednesday, capping a tumultuous week in which shareholders became spooked about its exposure to the commercial real estate sector.

CEO Alex Chriss told analysts the company's AI-heavy product rollouts won't improve financial results in the near-term.