Acting Chairman of the Federal Deposit Insurance Corp. Martin Gruenberg said regulators won't tell banks who to lend to, but the government won't be there if their investments go bad.

Discovery Federal Credit Union in Wyomissing has promoted its chief information officer, Michele Smith, to succeed Edwin Williams as CEO. Smith assumed her new role effective October 1.

Taichung Commercial Bank said it would pay $82.1 million to buy American Continental Bancorp in suburban Los Angeles.

The Consumer Financial Protection Bureau stopped short of creating new rules for BNPL fintechs, but pressure is mounting for some fintech lenders to alter their business practices.

A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.

Fiserv's point of sale system was operating normally on Friday, but some clients that use custom configurations were experiencing problems.