A ballot initiative that places additional restrictions on debt collectors and decreases the interest rates that can be charged on medical debt passed Tuesday by an overwhelming margin. Consumer advocates say it will ease the burden on households dealing with hardship, but industry groups contend that it will make credit more expensive.

Savanna-Thomson State Bank in Illinois has agreed to buy Fidelity Bank in Iowa and says it expects to complete the acquisition early next year.

The National Credit Union Administration has granted a federal charter and share insurance coverage to New York Episcopal Federal Credit Union in the Bronx, New York. It is the third federal charter granted this year.

Banks are starting to use the technology, which protects cloud-based data while it's being used by an application.

The San Francisco company is now estimating a net interest margin of 2.45% for the fourth quarter, down from 2.71% three months earlier. The profitability metric has suffered as customers ask for higher rates on their deposits.

While banks appear to be well capitalized, the Fed outlined several areas of potential weakness in its biannual supervision and regulation report.