Regulation

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.

After eight years of delay, the Consumer Financial Protection Bureau could still make last-minute changes to the payday rule, which sweeps in the buy now/pay later industry.

The banking industry groups suing the Federal Reserve over its stress testing practices filed a motion for a summary judgment in the case, arguing that a quick resolution could ensure changes are made prior to the 2026 stress testing cycle.

The Trump administration wants the Small Business Administration to shrink its workforce by 43%. At the same time, the agency is being asked to start managing the federal government's student loan portfolio.