Financial institutions

The Detroit automaker says it will stick to car loans and steer clear of mortgage lending if regulators approve its application to establish an industrial bank.

They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.

The two groups have launched a new effort to promote the benefits of being certified as a community development financial institution.

Waterfall Bank, which has ties to an investment group that handles affairs for family offices, would be based in the Tampa Bay area.

The accelerating pace of branch closures is partly due to industry consolidation, according to the community reinvestment group that authored the new report.

The Columbus, Ohio, company says it has delivered on M&A promises before, and many observers say its deal for rival TCF Financial is an opportunistic move in its bid to build a Midwestern powerhouse. But others questioned whether Huntington's cost-cutting and profit expectations are too optimistic.

The deal would create a $168 billion banking company in the Midwest and be the latest in a string of regional bank combinations.

The Boston-based firm has been informally working with an adviser to review strategic alternatives for State Street Global Advisors, including a merger with a competitor, people familiar with the matter said.

His family got its start in banking by financing camel-caravan traders in the Ottoman Empire and eventually expanded its reach into the U.S., Europe and Latin America.

The agency's principals are scheduled to meet Dec. 15 to vote on a new definition for brokered deposits and on regulatory standards for industrial bank parents.