Financial institutions

Expectations of more rate-cutting and slower GDP growth led the Minneapolis company to scale back its net income and revenue projections through 2022.

The Pittsburgh company is sticking with its plan to grow through expanded lending and branch openings in new markets, William Demchak told investors and analysts Wednesday.

The Cincinnati bank applied in May to convert its Ohio state charter amid an expansion into Texas and Colorado and the completion of its merger with MB Financial.

Its new training program will try to make commercial bankers out of professionals who left the workforce and want back in. It is another example of a bank getting creative in a tight job market.

Skip Brown, an executive with Winston-Salem Banking Group, says it has signed a letter of intent to buy a community bank three months after withdrawing a charter application.

A legislative measure would have made the Golden State the first in the nation where aggrieved borrowers could sue their servicers. The bill was delayed until 2020 after banks and other financial companies expressed opposition.

The Fed is seeking feedback on a "Building Block Approach" to risk-based capital standards for firms heavily engaged in insurance activities.

The industry has taken some steps to lower barriers to affordable housing, but some observers say that more can be done.

The banks, which plan to merge as Truist Financial, are expected soon to start selling hundreds of branches in the Southeast to satisfy antitrust concerns and increase efficiency.

With no fintech applicant officially seeking the agency’s specialized charter, Judge Dabney Friedrich said claims by the Conference of State Bank Supervisors still were not ripe.