The growing segment of cryptocurrency firms offering banking services is causing consternation among lawmakers and regulators at both state and federal levels, and raising pressure on them to strengthen regulation of the crypo industry. Securities and Exchange Commission Chairman Gary Gensler wrote in a letter to Elizabeth Warren last month that the agency needs "additional authorities to prevent transactions, products and platforms from falling between regulatory cracks" and "more resources to protect investors in this growing and volatile sector."

Citibank is planning a retail banking center and office space in North Dallas, according to documents filed with the state of Texas. The bank currently does not have a presence in the greater Dallas area.

Perry Pelos, Wells Fargo's CEO of commercial banking, will retire from the bank in April. Pelos will be replaced by Kyle Hranicky, who currently leads Wells Fargo's middle market banking unit.

Banks were hoping to see an increase in consumer spending during the second half of 2021 but their hopes could be fading as a resurgence of COVID-19 weighs on consumer confidence. "If those worries persist, we could see some scaling back of spending," said Joel Naroff, president of Naroff Economics.

Banks and other lenders are raising concerns about the Consumer Financial Protection Bureau's proposed expansion of lending data collection. The Consumer Bankers Association has urged the CFPB to take industry feedback on the complexities of such data collection into consideration and issue "a well-balanced final rule."