The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.

The KBW Bank Index posted a strong gain after a government report showed employers added 216,000 jobs in December. The labor market strength bodes well for lenders' credit quality but may delay highly anticipated interest rate cuts that would lower banks' funding costs.

A bill before the state legislature would create a public infrastructure bank, where municipalities could go to finance projects from affordable housing to bridges.

As the CEO of First Union Bank, Crutchfield struck more than 80 deals, riding the consolidation wave of the 1980s and 1990s. When he retired, First Union was the sixth largest bank in the country.

The fintech made deceptive claims and charged "surprise" fees, according to the Federal Trade Commission.

The appointment of Lynne Biggio Herndon as chief credit officer marks the final step in the Phoenix-based bank's leadership reorganization.