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What's behind the unlikely First Citizens-CIT deal

The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.

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Ex-Trump adviser Cohn predicts bleak future for community banks

Gary Cohn, former head of the Trump administration's National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.

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Regulators close Florida bank in third failure of 2020

First City Bank of Florida had suffered "longstanding capital and asset quality issues" that were unrelated to the pandemic, the FDIC said.

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Midsize banks brace for loan defaults, more margin pressure

Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks.

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Regions using AI to make most of customer feedback

Over the past year, the Alabama bank has been developing new tools that analyze survey responses, phone interactions and social media posts to identify opportunities to improve digital offerings.

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What's in, what's out as KeyCorp resets consumer strategy

The Cleveland company will exit indirect auto lending and close branches so it can devote more resources to mortgages, student loans and other relationship-driven, digital-friendly businesses.

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An attempt to make point-of-sale payment devices obsolete

MagicCube's i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.

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New pressure on banks to offer affordable consumer accounts

Both the Federal Deposit Insurance Corp. and the American Bankers Association are encouraging the industry to offer basic products that could bring more unbanked households into the financial mainstream.

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Comerica prioritizes forgiveness of larger PPP loans

The Dallas bank has begun encouraging larger borrowers to seek forgiveness of Paycheck Protection Program loans first as it holds out for the government to streamline the process for loans below $150,000.

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Powell says Fed's digital currency should complement payments system

Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.

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