Fintechs that simply offer cosmetic upgrades to the cumbersome American banking system won't survive.

During a probe that grew out of the Wells Fargo scandal, the Charlotte-based bank has acknowledged instances of "potentially unauthorized" accounts, but said that the number of examples was "vanishingly small."

The plan approved by the Federal Deposit Insurance Corp. Tuesday would require banks to exchange initial margin only in deals involving external swaps parties.

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

Regulators have redefined a simplified capital measure for community banks following criticism that their 2018 proposal did not go far enough.