Retail & Commercial

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.

Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.

Instead of injecting cash into Commonwealth National Bank, Regions Bank is taking a more targeted approach: providing funding for the community development financial institution to hire a commercial banker.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.

The U.S. arm of Mitsubishi UFJ Financial Group has hired nine bankers away from Wells Fargo in an effort to expand its restaurant finance group. The lender focused on the fast-casual and quick-serve segments during the pandemic and anticipates growth in that sector.

During the pandemic-induced lockdowns, the Federal Reserve loosened a rule requiring banks to cap certain savings withdrawals at six per month. Some banks have since dropped ceilings and associated fees, while others have stood pat.

The Amsterdam bank offers to directly credit a small business's invoices early after a vetting process — but before the invoice is paid.