Retail & Commercial

Technology designed to direct more consumers online can create difficulties for groups that rely on branches and other in-person services, according to Janis Bowdler, a racial equity counselor with the Treasury Department.

Lawmakers in the nation's most populous state failed to pass a measure, opposed by industry groups, that would have required larger companies to report their greenhouse gas emissions. Publicly traded companies may soon face similar requirements at the federal level.

The North Carolina bank's insurance subsidiary agreed to pay $3.4 billion to buy BankDirect Capital Finance. The sale reflects opposing strategies by the two companies.

Banks make up just 10% of the client base for Eltropy, which hopes to increase that number through two tech acquisitions that add video banking and artificial intelligence capabilities.

Citigroup joined rivals in trimming the ranks of its mortgage workforce as rising interest rates continue to crimp demand in the housing market. 

Higher mortgage rates have led to a sharp slowdown in cash-out refinances. Second mortgages were up nearly 50% in the first five months of the year as homeowners looked for new ways to borrow against their equity.

The top 5 have over 10 billion in assets.

California Attorney General Rob Bonta and his New York counterpart, Letitia James, urged the CEOs of Visa, Mastercard and American Express to create a merchant category code for guns and ammunition stores. They argued that "all options must be on the table to remedy" the "scourge of gun violence" in the United States.

Amid flooding and a lack of drinking water, Regions Financial announced a slate of fee waivers and loan deferrals, alongside a donation to a local United Way. Cadence Bank is supplying fresh water to ensure it can keep its doors open.

Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.