Liberty Bank, an $11.6 million-asset lender in Salt Lake City, is the first FDIC-supervised bank in six years to be hit with the lowest Community Reinvestment Act rating possible twice in a row. Regulators identified an unspecified "illegal credit practice" during their review of the bank's performance.

For firms that get it right, there's a chance to capture profits and offset risk from rising interest rates and inflation, according to experts who spoke at our Payments Forum conference.

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.

The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.

On one level, the failed bank's narrative mirrors the interest rate misplay and depositor panic at Bay Area neighbor Silicon Valley Bank. But it's also a deeply personal story about Herbert, who founded First Republic in the 1980s, championed its aggressive growth and failed in a last-ditch attempt to engineer a private-sector rescue.