Capital One unveils community benefit plan before it buys Discover; bank earnings

Capital One rolls out community benefit plan ahead of merger hearing: The credit card giant says its proposed acquisition of Discover would facilitate a bevy of community development activity and philanthropy. But some public advocacy groups are skeptical.

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Today in?bank earnings:?

• Cost control helps U.S. Bank boost earnings
• Citizens Financial again builds up reserves to shield against office losses
• Ally starts seeing relief as old loans roll over
• Why Synchrony is cautious on underwriting even as consumers show discipline

The five fixes to proposed cyber regulations bankers want to see: An analysis of 13 comment letters from the financial industry highlights the most important changes banks want to see to rules proposed by CISA.

Hsu says OCC will update its state preemption standards: Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

Read more on regulation: 6 regulators publish final rule on automated home valuations