The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.

The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one.

Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced — creating new categories for installment lending.

Credit card issuers say they need more time to respond to the substantial data request made by the Consumer Financial Protection Bureau in its proposal to slash late fees.

The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.