Retail & Commercial

Years of consolidation have damaged competition in the banking sector. Regulators should be more, not less, restrictive about approving mergers.

Financial institutions that received funding from the Emergency Capital Investment Program grew their loans by 35% between 2021 and 2022, according to new research. Now leaders at those institutions are turning their attention to the need for patient deposits.

Citigroup, Bank of America, Wells Fargo and KeyCorp are part of a coalition that last year pledged to move $1 billion of deposits to minority depository institutions and community development financial institutions. On Thursday, organizers announced that the group has reached its goal.

An analysis by S&P Global Market Intelligence shows that 37 of the 50 largest U.S. banks reported increases in total assets after a series of regional lender failures.

The seller announced the delay to give it time to solicit more votes in favor of the deal. It plans to push a June 13 meeting to next month, when shareholders will decide whether to approve the transaction.

The measure will prevent banks chartered elsewhere from charging interest rates above Colorado's 36% rate cap. If additional states take the same approach, it could hamper the business model for high-cost consumer lenders that partner with banks.

After shares dropped in the aftermath of recent failures, most banks demonstrated resilience and investors started to buy back into the sector.

Paulding County, northwest of Atlanta, is Georgia's second-fastest growing county, but after years of consolidation just one community bank has a branch there.

Ally Financial, TD Bank and Park View Federal Credit Union are experimenting with custom settings so users can tweak color contrast, font styles and more.

Citigroup Chief Executive Officer Jane Fraser visited Beijing this week, joining other Wall Street executives to travel to China despite growing geopolitical tensions with the United States.