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Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.

Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.

The racially targeted mass shooting at a Buffalo, New York, grocery store in 2022 has renewed conversations about whether banks have a duty to help segregated, impoverished communities that were shaped in part by discriminatory lending practices. What do banks owe the Black community, and what influence could they have?

Federal Reserve Board Gov. Phillip Jefferson joined three other board members in supporting a notice of proposed rulemaking, but expressed concerns about the economic impact of the changes.

The regional bank told analysts that it has studied how much debt it would need to raise based on an effective post-reform capital floor of 6% of risk-weighted assets, and has determined that that increase in capital would be manageable.

Discover Financial Services' stock tumbled after revealing a new FDIC consent order regarding consumer compliance. Separately, the financial institution also copped to misclassifying certain credit card accounts into its highest merchant-pricing tier beginning in 2007.

The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Director Rohit Chopra to discuss the agency's work including a proposal to set credit card late fees at $8 and the upcoming Supreme Court case that could defund the bureau.

While credit unions are being cautious with this lending line, some see opportunities to grow their commercial books amid setbacks at big-name banks such as Wells Fargo.

The Federal Reserve vice chair for supervision said regulators will adapt supervisory practices to account for advancements in machine learning.

Experts and industry leaders said banks are pumping investment into technology that can connect information silos.