First Citizens tries to win back deposits digitally after SVB purchase

First Citizens turns to its direct bank to offset lost SVB deposits : The North Carolina company, which acquired the remains of Silicon Valley Bank in late March, is now taking steps to shore up its deposit base. Those efforts, which follow outflows tied to Silicon Valley Bank customers, include paying higher rates at its nationwide online bank.

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'Very tenuous environment': Another bank merger craters : MVB Financial's agreement to buy Integrated Financial Holdings has fallen through, with both sides citing an uncertain economic outlook and potential regulatory challenges. It's the second M&A deal to be scrubbed in the past week.

Washington state will provide mortgage assistance as remedy for historical discrimination : Gov. Jay Inslee has signed a law that will offer loans to minority borrowers to help cover down payments and closing costs. Supporters say it will benefit groups that were victimized by racially restrictive real estate covenants.

CFPB warns banks about reopening closed deposit accounts : The Consumer Financial Protection Bureau said in a policy statement that banks risk violating the prohibition on "unfair acts and practices," by reopening a consumer's deposit account to process transactions after the account has already been closed.

House Republicans target opacity in bank post-mortem reports : The House Financial Services Committee's Subcommittee on Financial Institutions and Monetary Policy released a number of discussion drafts that would increase transparency requirements at the Federal Deposit Insurance Corp. and the Federal Reserve.