KeyCorp wasn't seeking capital but saw the benefits of Scotiabank's minority stake. The deal would enable the Canadian lender to step into the U.S. consumer market.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

It hasn't stimulated loan demand in ways banks hoped it might, and some CEOs fear future rate cuts might cause companies to hunker down.

Executives at Key pushed back against doubts over a deal for Laurel Road Bank’s digital lending platform so late in the credit cycle, arguing that its customers are prime borrowers with high incomes.

Consumers’ desire to shop online is creating huge demand for distribution centers and forcing property owners to think creatively about redeveloping vacant retail space. Meanwhile, hundreds of billions of dollars will be spent rebuilding areas hard hit by hurricanes and wildfires.