The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.

SoFi Bank, which is expected to open next month, emerges from the company’s purchase of a small community bank in California. It will not be allowed to engage in crypto-asset activities without its primary regulator’s approval.

The companies originally hoped to complete the deal in late 2021. The buyer chalked up the delay to an overburdened Federal Reserve, rather than any problems with its application.

Citigroup, which has been shedding some of its retail operations as part of a global revamp, is in advanced talks with Taiwan’s Fubon Financial Holding for a sale of its mainland China consumer business, people familiar with the matter said.

Citigroup is offloading its consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam as CEO Jane Fraser continues her push to simplify the New York-based bank.

Banco Santander is among lenders exploring bids for Citigroup’s retail banking operations in Mexico, according to people with knowledge of the matter.

Citigroup announced Tuesday that it plans to exit retail banking in Mexico, less than a year after Fraser said “there’s a lot to like in the franchise over the longer term.” She explains her new thinking.

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Mizuho Financial Group, the large Japanese bank, has agreed to buy U.S.-based Capstone Partners to expand in the business of helping private equity firms raise funds.