Balances reached nearly $1 trillion at the end of the first quarter, up 17% from a year earlier. The increase reflects higher spending by well-off consumers on travel and entertainment, as well as the pressure that lower-income households are facing from inflation and higher interest rates.

The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank's proposed takeover of First Horizon, but they were unprepared for its cancellation.

The companies cited an inability to secure regulatory approvals after postponing multiple times a closing that had been originally expected last fall.

The groups also want regulators to downgrade the Cleveland bank's rating under the Community Reinvestment Act. The demands represent an escalation of a dispute over whether Key fulfilled promises it made under a 2016 community benefits agreement.

This has been a difficult year for the industry with government takeovers of three regional institutions, which rank among the 10 biggest failures in U.S. history. Here is a look at what went wrong at those three banks and the seven others on this infamous list.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

With the acquisition, the Lake City, Florida-based community bank will nab a consumer-direct platform and expand its footprint in the Midwest.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

Lenders had started tightening as early as the fourth quarter in anticipation of a possible recession. Now, the banking crisis is driving community and regional banks in particular to hit the brakes harder, stoking renewed recessions fears.

The banks invested in bonds at a time when rates were low, and their value has since dropped substantially. While there appears to be very little risk that the banks will ever have to realize the losses, an American Banker data analysis raises questions about whether regulators should toughen their monitoring of interest rate risk.

The company agreed to pay $27.2 million in restitution to shareholders and revised its 2022 earnings to show a steep loss. The plea agreement with the Department of Justice was tied to Sterling's now defunct low-documentation mortgage program.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.

The threshold for the obligation has been lowered to 25 closed-end mortgage loans originated in each of the two preceding calendar years, according to a bulletin published on the OCC's website.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

Despite the reduction from last year, "there are some signs that that production is coming back" in mortgage, the bank's CEO said.

The Texas bank will let customers go through the entire process on their phones, at the same time that it emphasizes human service that is not impacted by commissions.

A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.