The National Community Reinvestment Coalition and the American Bankers Association have sent dueling letters to the Federal Reserve over whether NCRC advocates pressured ABA member banks to denounce the ABA's litigation against the Consumer Financial Protection Bureau.

Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.

High deposit costs and low-yielding assets weighed on the company's net interest income, which fell to its weakest level since the first quarter of 2017. But Key executives predicted that a turnaround is coming soon.

The Consumer Financial Protection Bureau's proposal would give consumers a legal right to grant third parties access to financial data for a specific use, but firms cannot sell the data or use it for their own benefit — including by feeding it into algorithms or artificial intelligence.

Rep. Andy Barr, R-Ky., again pressed the Federal Reserve for economic analysis of capital proposals, while Rep. French Hill, R-Ark., reintroduced a bill that would limit the Fed's ability to extend money to the Consumer Financial Protection Bureau.

Six weeks after unveiling a broad restructuring plan, the North Carolina bank said it has already taken several steps to lower expenses, and that various cost-reduction initiatives are on parallel paths.