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The number of Federal Reserve banks should be cut in half and their bank regulatory responsibility should be transferred to other agencies.

The combination of UniWyo and Reliant Federal would bring together roughly $700 million of assets and 50,000 members.

Officials from the Fed, FDIC and OCC said proposals allowing banks to get Community Reinvestment Act credit for lending and other activities conducted outside their immediate assessment areas could create “powerful incentives” to invest in Native communities.

The Detroit-based lender has been a major beneficiary of the auto market’s growth during the pandemic. Looking ahead, company executives expect demand to be particularly strong among higher-income customers who have little sensitivity to higher car prices and rising interest rates.

Chief Executive Bruce Van Saun said the Rhode Island bank doesn’t “need to be that greedy” after reporting a 34% rise in net interest income during the second quarter. He laid out plans to trim the bank’s sails in both commercial and consumer lending.

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.

In one scheme, criminals impersonated a financial institution and defrauded victims of $3.7 million. The FBI advised banks to warn customers about such scams.

Gov. Kathy Hochul’s latest effort to increase affordable banking access directs New York’s banking regulator to examine total overdraft fees paid in the state, the percentage of fees reduced through negotiations and other related matters.

The Federal Reserve Board will enter next week’s Federal Open Market Committee meeting with a full complement of governors for the first time since 2013.

Until last year, Laurentian Bank of Canada didn't have a mobile app. It shared the task with a credit union-owned vendor that has built a network to help smaller financial institutions work with fintechs.

A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the U.S. Senate, according to one of the lawmakers driving the effort.

Alloy, Marqeta and other technology firms drafted policies to assist employees in states that restrict abortion access, even before they had all the answers.

A partnership with the business payment technology firm Melio supports card payments even when one party is stuck in the world of paper checks and cash.

Bank of America officials say the boost to loan income from rising rates combined with its overhaul of its loan book since the financial crisis will help it weather any potential economic challenges ahead. Analysts had a lot of questions about the bank’s reasoning.

In a quarter filled with economic and geopolitical uncertainty, the New York investment firm’s digital consumer bank achieved record-high revenues. Executives have said they plan to drive up revenues in that segment to $4 billion by 2024.

Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”

Apple was accused by Affinity Credit Union of using its market power in the mobile device industry to fend off competition from other payment card issuers and charging them fees to boost its bottom line.

The comments from the agency's under secretary for domestic finance came as it issued a request for feedback on the risks and opportunities of digital assets.

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.