Retail & Commercial

The de novo institution is offering treasury management and depository services to the fragmented nail-and-beauty segment. Management has hopes this will bolster its relationship banking and liquidity.

The Florida lender hired corporate bankers in New York City who had previously worked at First Republic Bank, which collapsed last week.

The Federal Deposit Insurance Corp. board voted 3-2 to propose a special assessment of 0.125% on banks with uninsured deposits over $5 billion.

While the central bank's reverse-repurchase facility generally works to stabilize the financial system, under certain circumstances it would spark a rapid flow of deposits out of banks. A growth cap would prevent that problem.

The California bank says the drop occurred last week after a news report that the lender was in talks with potential investors.

The North Carolina company, which acquired the remains of Silicon Valley Bank in late March, is now taking steps to shore up its deposit base. Those efforts, which follow outflows tied to Silicon Valley Bank customers, include paying higher rates at its nationwide online bank.

The credit card company believes that its Prism subsidiary will better serve other financial services companies as an independent firm.

MVB Financial's agreement to buy Integrated Financial Holdings has fallen through, with both sides citing an uncertain economic outlook and potential regulatory challenges. It's the second M&A deal to be scrubbed in the past week.

The Consumer Financial Protection Bureau said in a policy statement that banks risk violating the prohibition on "unfair acts and practices," by reopening a consumer's deposit account to process transactions after the account has already been closed.

The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.