VyStar's deal for the $1.7 billion-asset Georgia bank, the largest bank to agree to be sold to a credit union, was terminated after numerous delays and difficulties in obtaining regulatory approval.

Several financial institutions that frequently sponsor fintechs, including Evolve Bank & Trust and Grasshopper Bank, highlighted the problems of fraud at American Banker’s Digital Banking conference.

The Consumer Financial Protection Bureau is scrutinizing “rent-a-bank schemes” that charge borrowers high interest rates, the agency’s deputy director said Wednesday. Consumer advocates have long pushed for limits on such partnerships between banks and nonbank lenders.

Democratic Sen. Elizabeth Warren cited a report that found then-acting Comptroller Keith Noreika chose to privately reprimand the Canadian bank for consumer abuses, rather than issuing a fine.

The Dallas bank is joining the branch-consolidation trend that has accelerated during the pandemic, announcing plans to shutter 22 branches in Michigan, Texas and California.

Credit unions enjoyed especially strong loan demand from car buyers — helping to push overall loan growth to twice the rate of what banks saw in the first quarter — following a lull stemming from pandemic-era setbacks.