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President Joe Biden said on Monday that he's called on Congress "to give regulators the tools to hold banking executives accountable."

The 34-page document demands that the bank get regulatory nonobjection for every new fintech partnership and requires the bank to step up its monitoring of partners' compliance with banking laws.

Land of Lincoln Credit Union in Decatur, Illinois, has agreed to acquire Nokomis Savings Bank. In December, the credit union announced a deal to buy Colchester State Bank.

The messaging organization is providing a sandbox for developers to enable cross-border transactions for central bank digital currencies, an elusive goal as most central banks focus on domestic use.

Millennials and Generation Z will soon become the principal financial consumers. Which companies and products are on track to win their business, and which ones are in danger of going extinct?

First Republic Bank was shuttered by regulators early Monday, and all its deposits and most of its assets were acquired by JPMorgan. San Francisco-based First Republic was undone by low-rate mortgages it made to its wealthy customers as well as by the fallout from last month's banking crisis.

Bank groups say the focus on capital rules in Federal Reserve Vice Chair for Supervision Michael Barr's report on Silicon Valley Bank are misguided. Others say he should have named names.

BayFirst Financial, which says it lost $1.6 million when a planned Small Business Administration loan sale to Signature fell through, plans to file a claim for the lost revenue with the Federal Deposit Insurance Corp.

About $2.9 billion of the deposits the company obtained from the failed Signature Bank had fled as of last week, and executives are forecasting that number to double. However, they say they're "cautiously optimistic" they can lure some deposits back.

Security researchers discovered the compromise in Trading Technologies software while looking into the cause of a compromise in 3CX phone conferencing software.

Genesis lawyer Sean O'Neal said that the crypto lender has agreed to a 30-day mediation period including its committee of unsecured creditors, which still opposes the proposed restructuring deal.

Former credit union chief hit with charges, $1 trillion of Home Loan bank advances, a deposit deal in Illinois and more in this week's banking news roundup.

The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.

In an era of unprecedented access to digital payment methods, cash is making a comeback, courtesy of the swelling cost of living.

In April's roundup of American Banker's favorite stories: Investigations of PPP fraud ramp up, U.S. Bank responds to concerns regarding capital levels, what happened to the trend of bank purchases and more.

In a highly anticipated report on the failure of Silicon Valley Bank, Federal Reserve Vice Chair for Supervision Michael Barr says the bank's own mismanagement and an acquiescent supervisory structure created the conditions for the bank to fail.

Besides negating the benefits of a central bank digital currency, the Federal Reserve's real-time payments system will bring about numerous positive changes, including helping consumers who live paycheck to paycheck.

The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.

The real-time payments system from the Federal Reserve will spur an increase in payments innovations and drive prices lower for existing products.

The Government Accountability Office said that  the Federal Reserve Bank of San Francisco flagged problems at Silicon Valley Bank as early as 2018.