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The Singapore-based crypto lender that announced a freeze on withdrawals on Monday said it has signed a tentative agreement to be acquired by rival Nexo.

Questions remain around switching benchmarks that could result in unexpected refinancings

The Federal Reserve’s aggressive rate hikes are leading corporate clients to demand higher deposit rates, according to industry consultants. Some banks are better positioned than others to weather the changing landscape.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

The Federal Reserve System is facing increasing demands from the Senate to revamp the process for granting master accounts, disclose more information to the public and pick more diverse leaders. That pressure makes executive searches at the Kansas City and Chicago Fed banks more complicated.

Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.

Toronto-Dominion Bank, the Canadian bank that’s been expanding through acquisitions, is weighing a deal for the brokerage firm Cowen, according to people familiar with the matter. 

Klarna Bank is in talks to raise new equity at a valuation as low as $6 billion, a fraction of the $45.6 billion it commanded last summer as it became Europe’s most valuable startup, according to people with knowledge of the matter.

The Consumer Financial Protection Bureau ended special regulatory treatment of the financial services company’s earned wage access products. Payactiv says it requested the action after a disagreement with the agency.

FTX US, the crypto exchange co-founded by the billionaire Sam Bankman-Fried, signed an agreement with BlockFi that includes an option to purchase the crypto lender for as much as $240 million. 

"It's probably the only asset class where maybe the client knows more than the advisor right now," Maxwell Lane, head of product for Flourish, said at Financial Planning's Invest conference.

Goldman's small-bank payments effort, teaming up on KYC in Canada and more in banking news this week

An alert released Tuesday asks banks to give special attention to specific “commodities of concern” as they monitor transactions.

A decision narrowing the power of the Environmental Protection Agency could be enough for other industries, banking included, to push back against novel interpretations of regulatory powers.

The U.S. retail arm of Bank of Montreal plans to reduce the charge from $36 to $15, following the approach taken by M&T Bank and Huntington Bancshares.

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

Workers Credit Union installed a life-size hologram of “Olivia” in specialized locations to offload some mundane customer service tasks. It’s also catching the attention of passersby.

The retail industry, which wants the Federal Reserve to lower a decade-old price cap, has been complaining that higher prices for consumers mean heftier interchange fees. But banks are pointing out that the $10 billion-asset threshold below which financial institutions are exempt from the cap hasn’t been adjusted for inflation.