More than $40 billion flowed into the firm's cash-management products in March amid a "crisis of confidence" in the health of regional banks, according to CEO Larry Fink.

Truist Financial completes sale of insurance division, loses a regional president to Huntington Bancshares, a group of Fiserv clients will join Federal Reserve's real-time payments network, FedNow, and more in this week's banking news roundup.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

With the acquisition, the Lake City, Florida-based community bank will nab a consumer-direct platform and expand its footprint in the Midwest.

The amount of U.S. junk bonds has fallen 11% from its peak in October 2021 to $1.41 trillion, according to a Bloomberg index tracking corporate high-yield debt.

In an amended complaint filed Wednesday in federal court in Manhattan, the U.S. Virgin Islands revealed new details of how JPMorgan handled allegations about Epstein up until 2013, the year the bank broke off its relationship with him.

Kyle Bass's expectation of more pain in the office market reflects a more widespread view that the pandemic has driven a semi-permanent shift toward remote and hybrid work that imperils lower quality buildings.

The city held a community vigil two days after a bank employee opened fire in a downtown branch. One of the speakers was Whitney Austin, a Louisville resident who survived a mass shooting at Fifth Third Bancorp's headquarters in 2018.

Terry Dolan will see his role expand when two senior executives retire this summer, and will then hand over CFO duties to John Stern in September.

"Our leaders ... have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings," the company's operating committee said in a memo to employees.

Banks could be in for a long, slow trickle of bank failures and consolidation in the coming months and years, particularly if inflation persists and interest rates keep rising. A downturn in commercial real estate could add to banks' problems.

Rick Hein, who has been the chief executive of the financial institution for 23 years, plans to depart next year.

The Columbus, Ohio, company expects to record a pretax gain of $57 million from the transaction, which will more than offset the costs of two other recently announced initiatives.

The collapse of several regional banks is spurring some publicly traded companies to add language identifying the banking sector as a potential area with negative consequences to the "risk factors" they include in regulatory filings.

Lexicon Bank's cautious approach to its balance sheet helped it weather the pandemic and avoid some of the mistakes that plagued other failed banks.

Retired Missouri bank CEO joins Great Southern Bank; Webster Bank promotions reposition senior management; Regions launches effort to boost Black-owned businesses in Birmingham; Consumer survey connects ESG in banking with customer loyalty.

Police identified the gunman as Connor Sturgeon, a bank employee who used a rifle to kill four people inside the bank. He was later killed by police, according to the authorities.

The lawsuit is based on alleged misstatements leading to the bank's collapse.

In letters that were sent to companies including Circle Internet Financial, BILL Holdings, BlockFi and Eiger BioPharmaceuticals, Warren and Ocasio-Cortez asked questions about the nature of their connections with SVB.

The report issued Thursday comes as the U.S. and other countries are grappling with how they should regulate cryptocurrencies and virtual assets.