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The Treasury and State departments have quietly urged banking giants including JPMorgan Chase and Citigroup to keep doing business with certain strategic Russian firms, according to people familiar with the situation. Some lawmakers have questioned whether these arrangements are sanctions loopholes.

The Pacific Northwest bank has agreed to divest 10 branches as a condition of the Department of Justice's green light of its merger with Umpqua Holdings. The deal still needs the blessing of the Federal Deposit Insurance Corp.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

Chime, Varo, Upstart and Stripe are among the many companies that have recently laid off more than 10% of their workforce. Banks could benefit from a chance to scoop up tech talent.

The Swiss bank is branching out into rural Brazil to find millionaires created by rapid growth in the agribusiness and tech industries who need wealth management services.

The possibility of regulatory chaos if the Consumer Financial Protection Bureau's funding is declared unconstitutional should not deter the courts from following the law.

"We're at the very beginning of that mission" to tighten policy enough to slow down the economy and push down inflation, says Bill Dudley, a former New York Fed president.

Wells Fargo, as part of its effort to build a higher profile on Wall Street, has recruited Brian Gudofsky to run technology, media and telecommunications investment banking.

Gas, or the fee associated with crypto transactions, is spiking. Canvas and other tech firms are trying to ease this expense to promote the technology's use for payments and other financial services.

In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change.

Winona Nava, who is retiring next year, took over Guadalupe Credit Union in 1991 when it had dwindled to just above $10 million of assets. Nava's immigrant-friendly policies led some staffers to resign in protest, but that didn't discourage her. "Everyone deserves to be treated with respect and dignity," she said.

The president is responding to critics who say many of Democrats' key policies do not address core expenses for Americans.

The regulator's demand in confidential talks to settle a series of investigations into mistreatment of customers, described by people with direct knowledge of the matter, reflects its escalating frustration with the bank, which has been punished multiple times by authorities over the past six years for a variety of abuses.

The North Carolina bank has made 11 insurance-related acquisitions in the last three years, and a top executive forecasts more buying chances as brokerage consolidation continues.

Deutsche Bank was told by the German financial watchdog BaFin that it must fix its controls within given deadlines if it wants to avoid a financial punishment.

The Federal Reserve's semiannual financial stability report said the threat of continued high prices and the Fed's response to them are top threats for banks and other market participants.

The security company OneSpan has launched a new line of such products for financial institutions. Some are skeptical that stand-alone authentication devices are necessary.

The Federal Reserve's latest rate hike will cost Americans with outstanding credit card debt more than $5 billion in additional interest over the next 12 months, according to an estimate from the personal-finance site WalletHub.

Mobile banking marches on, new blood for Visa fintech effort and more in banking news this week.

Facing calls for more transparency around its account-granting processes, the central bank has proposed making a public database of institutions with access to its services.