Veridian Credit Union's deal for American Investors Bank and Mortgage is the 12th this year in which a credit union would acquire a bank.

The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.

It's only been two months since the Biden administration posted its blueprint for an AI Bill of Rights, but government agencies are starting to apply it in areas of financial services where discrimination is a concern, according to speakers at a Brookings Institution event.

Banks like BNY Mellon can compete with payment tech startups, or they can partner with them to make the most of their innovations. But in doing so, they give a potential competitor a direct line to the bank's sizable customer base.

The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.

The New York bank's agreement to pay $204 million in stock for Salisbury Bancorp moves NBT into complementary markets in Connecticut and Massachusetts while boosting an already substantial wealth management operation.