The changes, which follow similar moves by other large banks, occur as Bank of the West seeks to close a $16.3 billion merger with BMO Harris Bank.

The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.

People Trust Community Federal Credit Union in Arkansas will provide depository services not offered by its sponsoring community development financial institution, the People Trust Community Loan Fund.

The Biden administration has selected Travis Hill, formerly Jelena McWilliams' policy chief, for the No. 2 spot on the board of the Federal Deposit Insurance Corp.

The popular peer-to-peer payments network is rife with fraud. And as much as the Consumer Financial Protection Bureau might want to crack down on the big banks that own Zelle, the agency is legally handcuffed.

Wells Fargo remains committed to turning itself around following a series of scandals that have plagued the bank since the middle of the last decade, but it will take "several years of work" to satisfy U.S. regulators, Chief Executive Charlie Scharf said.

The saga over cryptocurrency regulation took another twist courtesy of a comment buried in a Securities and Exchange Commission lawsuit that hints at a case for U.S. jurisdiction over the ethereum blockchain.

Morgan Stanley will pay $35 million to settle Securities and Exchange Commission allegations that one of its units failed to secure the personal data of millions of customers when replacing company hard drives and servers.

Adrienne Harris, superintendent of the New York State Department of Financial Services, previewed the agency's upcoming climate guidance in an interview with American Banker. Banks "cannot sacrifice" their fair lending and equity obligations "in order to mitigate climate risk," she said.

The Biden administration is officially neutral on the idea of a digital dollar, but a Treasury report released last week lauds potential "significant benefits" of a central bank digital currency.

A new Treasury Department request for comment invites the public to weigh in on how cryptocurrencies are used in illegal activities. It's part of the Biden administration's larger push to create a regulatory framework for digital assets.

The cryptocurrency firm Ripple Labs sought to defeat a Securities and Exchange Commission suit by claiming that its XRP token isn't a security subject to the regulator's authority.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

Isbank, Turkey's largest bank by assets, stopped using a payment system popular among Russian tourists, following a warning by the U.S.

The founder of a cryptocurrency research firm was accused by the Securities and Exchange Commission of promoting an initial coin offering without disclosing that he had been paid $5 million to do so.

Late penalties on credit cards are set to rise 9% in 2023 under current rules that allow for increases tied to the Consumer Price Index. But Consumer Financial Protection Bureau Director Rohit Chopra says he wants to issue a regulation that could undo that inflation-related exception to limits on fees that banks may charge cardholders.

In the coming midterm elections, bankers ought to pay attention to candidates for state treasurer, controller and other historically low-profile offices.

A Texas city declined to award a bond deal this week to Citigroup even though the bank submitted the most competitive bid, showing how Wall Street is still contending with a Republican-backed state law that punishes financial firms for taking on gun policies.

The Minneapolis bank extended its purchase agreement until the end of 2022, six months after the deal's original targeted closing date. Large-bank acquisitions have been drawing closer regulatory scrutiny during the Biden administration.

A piece of legislation cleared the House this week that would allow for so-called "desktop appraisals" on properties financed by government-backed veteran loans.