M&A activity has been going through a slump recently, but despite regulatory challenges and fears of a recession, the appetite for deal-making remains strong.

PhonePe backs away from a buy now/pay later acquisition, Germany fines EY for Wirecard scandal, and more.

When Colm Kelleher became chairman last April, he inherited feasibility studies by predecessor Axel Weber dating back to at least 2020 on what a takeover of Credit Suisse Group AG would look like.

The top five banks and thrifts have an average adjusted nonperforming loan ratio of 10.55 as of September 30, 2022.

In his annual letter, Dimon said that U.S. authorities shouldn't "overreact" with more rules.

Mark Rabinowitz, the credit union's chief administrative officer, took over as chief executive on April 1, replacing Matthew Herbert.

The top five banks and thrifts have combined deposits of more than $7.5 trillion as of December 31, 2022.

The equity deal means that Acorns will gain a foothold in the U.K. and Europe, where GoHenry, the challenger bank it acquired, also operates.

The neobank purchased the fintech lender in an all-cash offer, but did not disclose the price tag.

Switzerland's Office of the Attorney General said Sunday it was working to gather information on "numerous aspects" linked to the takeover, without specifying further what it was looking for.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

Plaus had planned to leave the bank after March 31. But Merrill head Andy Sieg's sudden departure for Citigroup triggered an executive shuffle.

The Pacific Northwest bank said Robert Butterfield would replace veteran finance chief Peter Conner, who plans to retire this year.

M&T Bank joins a Massachusetts fintech-focused hub; Republic Bancorp in Louisville, Kentucky, once again expands in the Cincinnati market; ChatGPT suffers a security lapse and more in this week's banking news roundup.

Shares of the firm have plunged 34% in March. The rout has wiped out $47 billion in market value from Schwab.

The latest figures suggest efforts by policymakers to stem contagion following a string of bank collapses is working, though banks are still borrowing much more than is typical during periods of low stress.

Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.

In a sudden shift, Merrill's leader of the past six years is heading back to rival Citi, where he will be head of global wealth and drive its expansion.

James Norris, who joined the Germantown-based credit union in 2010, will retire April 21.

Talks for setting the size and timing of the assessment are in early stages. Leaning heavily on big banks is seen as the most politically palatable solution.