Retail & Commercial

The acquisitive Massachusetts company said it would pay $146.5 million to acquire Randolph and its $800 million-asset subsidiary, Envision Bank.

The Consumer Financial Protection Bureau said it expects credit card companies to increase fees — often around $30 — charged when customer miss a payment. The higher prices are allowed under rules that authorize inflation adjustments.

The pace of deal activity in 2022 is far lighter than it was a year earlier. "Going forward as an industry, we're going to be more selective because of the elongated approval process,” said Jim Ryan III, CEO of Old National Bancorp. Additionally, rising interest rates have led sellers to demand bigger payouts.

The chief executives at Bank of America, KeyCorp and Goldman Sachs are among those who were paid substantially more for 2021 performance than for the previous year, when the pandemic hurt profitability and other financial metrics.

The White House's $5.8 trillion spending proposal to Congress includes more dollars for anti-money-laundering enforcement, Small Business Administration loan guarantee programs and affordable housing financed by community development financial institutions.

Not all reforms are created equal. Only those truly taking a consumer-first approach — such as curtailing fees and allowing for grace periods — will see lasting benefits in customer loyalty, writes the acting comptroller of the currency.

JPMorgan Chase’s fledgling digital bank is going after more customers in the U.K. with a new savings account.

Wells Fargo, which approved fewer than half of mortgage refinancings sought by Black homeowners in 2020, prompting calls for regulatory investigations, greenlighted a larger share of applications from such borrowers last year.

The Gulfport, Mississippi, bank is joining a number of large and regional banks pledging to reduce or eliminate the charges.

A bet on gambling payments, a step for open banking and more in banking news this week.