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The banking crisis set in motion by the failure of three banks has the industry focusing once more on how to avoid the same scenario.

The locations being shuttered are spread across eight states, according to a spokesperson. JPMorgan took over 84 First Republic branches when it bought the failed San Francisco bank a month ago. 

The unit's CEO, Jeff Leerink, and his management team are said to be preparing to announce a deal for the firm in the coming days, pending approval from the U.S. Bankruptcy Court for the Southern District of New York.

After an appeals court sided with the Consumer Financial Protection Bureau in February, the CFPB and PayPal filed a round of legal arguments in late May to resolve remaining claims from a lawsuit PayPal first filed in 2019.

The Stroudsburg, Pennsylvania-based financial institution, from 2017 to 2021, did not sufficiently serve the credit needs of majority-Black and Hispanic neighborhoods in and around Philadelphia, the DOJ alleges.

Sen. J.D. Vance, R-Ohio, and other Republicans have signed on to a bill that would bolster the Federal Deposit Insurance Corp.'s ability to claw back the compensation of the executives of failed banks.

The Federal Reserve Board and California Department of Financial Protection and Innovation want to ensure the shuttered bank makes good on its commitment to self-liquidate and make depositors whole. It also wants full cooperation on an investigation into FTX ties.

An activist investor blasted the appointment of Andrew Cohen, saying he has long served on the Philadelphia bank's board and shares responsibility for its financial troubles.

The Consumer Financial Protection Bureau is advising consumers to transfer money stored on nonbank digital payment apps such as PayPal, Venmo and Cash App to insured banks and credit unions.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

The bank is training a large language model to help employees and customers find answers to questions, starting in the mortgage department.

Curt Farmer, CEO of the Dallas company, defends its management of a Treasury Department program that provides federal benefits on prepaid cards. He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries."

In May's roundup of American Banker's favorite stories: Washington state plans to provide mortgage assistance to help address historical discrimination, an insider look at how Comerica is faring with the Treasury's Direct Express program, the fall of First Republic Bank and more.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

The ill-conceived proposed rule would increase costs for a significant majority of credit card customers.

All In Credit Union's acquisition of $115 million-asset SunSouth Bank will push the credit union above the $3 billion asset mark.

U.S. banks lost 2.5% of their deposits during the first quarter while credit unions saw a 2.1% quarterly increase, according to an S&P Global Market Intelligence analysis. Aggressive marketing — and credit unions' relatively untarnished reputations — helped motivate the shift.

The search giant is adding travel, health care and other consumer services to encourage users to stay within its ecosystem.

Mobile banking offerings at midsize banks scored below those of their larger peers in a recent customer satisfaction survey. At a time of rising interest rates, consumers are increasingly valuing digital offerings that act as money movement hubs, experts say.

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.