Retail & Commercial

The rule, finalized in the waning days of the Trump administration and scheduled to take effect in April, would have punished banks for denying services to certain firms without documented reasons for doing so.

Acquisitions of wealth management, insurance, fintech and other firms are expected to pick up as banks seek new sources of fee income and look to improve digital capabilities.

The companies pledged to share data with regulators, abide by certain restrictions on pricing and submit to regular examinations. But the voluntary pacts stop short of placing restrictions on existing revenue models.

Stock Yards Bancorp in Louisville says it would pay $190 million in cash and stock for Kentucky Bancshares.

The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution.

The investment fund HoldCo Asset Management said the $900 million price tag of the agreement with SVB Financial Group “substantially undervalues” Boston Private Financial Holdings.

Y-Combinator fintech Stilt has secured a new loan facility from Silicon Valley Bank to diversify its funding sources and expand its lending efforts to immigrants and thin-file borrowers.

The bank will start with a mobile checking account for U.K. customers this year, followed by a full slate of products that could include credit cards, mortgages and car loans.

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic.

A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending.