Retail & Commercial

At the two big banks, proposed phaseouts of lending for new fossil-fuel exploration drew less shareholder support on Tuesday than they did a year ago. The results were a blow to activists who want big banks to take stronger action to combat climate change.

Rep. Roger Williams, chairman of the House Small Business Committee, says Small Business Administration is considering allowing borrowers to self-certify eligibility for loans, a step some believe could lead to more fraud. The agency declined to say whether that is one of the changes it's considering.

CEO Rajinder Singh said battered competitors are "throwing off" both talent and customers, creating a chance for the Miami Lakes, Florida, bank to pick up new business.

Federal officials should have protected both banks' uninsured depositors by following the law's carefully designed framework for dealing with failures of systemically important banks.

Banks with more than $100 billion of assets expect tougher regulations in the wake of last month's bank failures. They say that any changes to capital and liquidity standards should happen gradually in order to avoid spooking investors.

The San Francisco bank, on shaky ground after two regional peers failed last month, said that customers pulled more than 40% of their deposits last quarter. It's been forced to turn to more expensive sources of funding, which analysts said will squeeze its profitability.

The Dallas-based company is intentionally shedding certain deposit relationships that don't align with its new business model. Total quarterly deposits fell 12.6% year over year, but they rose 1% after excluding the relationships targeted for reduction, according to the bank.

Central bank will rely on reserves to kick-start its proposed bullion-backed digital currency.

Main Street companies, particularly those owned by women and minorities, depend on the flexibility of community and regional banks for their survival.

The Kansas-based buyer is pursuing deals to build out its small-business lending across several states.