The moves were widely anticipated, with the markets already pricing them in, as the central bank attempts to get the upper hand on record-setting inflation.

The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a joint proposed rule Thursday meant to refocus and update its implementation of the landmark 1977 law.

The Florida bank said it would pay $173 million to buy Drummond Banking, which operates 18 branches in the northern part of the state.

Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.

The Minneapolis company, which previously said it expected the $8 billion acquisition to close in the first half of 2022, has become less firm about that projection.

Tansley Stearns will succeed the organization's longtime chief executive Bill Lawton in June.