Bank of America heads to new markets; why banks are cutting costs

BofA to enter new markets in Nebraska, Alabama and Ohio: Bank of America says it will extend its branch footprint to Omaha, Dayton and Huntsville. The moves are part of an ongoing strategy to enter new markets even as the bank reduces its total branch count.

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Cost cuts to share spotlight during bank earnings season: When community lenders report second-quarter results next month, all eyes will be on deposit levels and funding costs. By extension, analysts expect more banks to roll out expense reduction plans to protect their bottom lines.

Treasury calls for climate scenario testing, more disclosures from insurers: A report from the U.S. Department of the Treasury's Federal Insurance Office urges state regulators to spruce up their toolkits for monitoring and mitigating the impact of climate change on homeowners insurance.

U.S. Bank adds AI to business travel payments as competition heats up: The bank's subsidiary TravelBank is countering the many fintechs that are entering its market market.

Startup launches cross-border debit account with FDIC insurance: The fintech Zepz has added a new remittance method with an FDIC-backed mobile bank account.