Regulation

Even though it's coming during a volatile period for the markets and economy, the cryptocurrency company's planned listing puts pressure on rivals and regulators.

Time and again, seemingly successful bank mergers have been rocked by revelations of poor anti-money-laundering compliance. Assessing the AML risk of a potential merger partner is extremely tricky.

SEC Commissioner Hester Peirce said it was important for the agency to not stifle innovation through its regulatory approach.

The $381 million deal for Alabama-based Southern States Bancshares would give FB entree to the sprawling Atlanta market. CEO Christopher Holmes said the bank would likely focus on nearby suburban communities initially.

A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.

The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency say they will move to rescind a 2023 reform to the Community Reinvestment Act, citing litigation concerns about the rule.

The SEC had sued the cryptocurrency exchange for allegedly operating as an unregistered securities exchange, broker, dealer and clearing agency. The case was dropped with prejudice.

A new Office of External Relations and Strategic Partnerships will continue the work of helping banks develop affordable credit for consumers lacking a credit score using untraditional methods of determining creditworthiness, the agency's acting head said.