How the debt ceiling fight could affect banks; payments vs. inflation

Banks may gain deposits amid debt-limit talks. But what happens next? The banking industry, which has been contending with deposit outflows, could get a short-term boost from spooked investors. But once the White House and House Republicans reach a deal on raising the debt ceiling, the pressure on deposits may resume, analysts say.

Sign up here to receive American Banker's complete Daily Briefing newsletter — delivered to your inbox every morning.

5 payments innovations designed to counter inflation: Credit-card issuers and other lenders are developing financing options focused on managing interest, rewards and credit scores for consumers who face ongoing economic pressures to their budgets.

Did the Supreme Court just raise the bar on banking enforcement actions? The justices ruled this week that a lower court should have ordered the FDIC to reconsider its lifetime ban of a Michigan banker instead of deferring to the agency's judgment. The decision could make financial regulators more hesitant to take certain enforcement actions, experts predict.

New York regulators fine OneMain $4.25 million over cybersecurity practices: The New York Department of Financial Services found the company failed to adequately protect itself from data breaches. Since 2018, OneMain Financial has suffered multiple cybersecurity incidents.

Edmonton Bancshares strikes deal to expand in Nashville area: The Kentucky-based bank plans to acquire the $234 million-asset Sumner Bank & Trust in central Tennessee in a transaction expected to close in the fourth quarter.