* The Federal Reserve Board extended until , the conformanceperiod for banks to divest ownership in certain legacy investment funds andterminate relationships with funds that are prohibited under the Volcker Rule.
*Data from FactSet revealed that 20 of the world's largest banks have lost aquarter of their combined market value since the start of 2016, The Wall Street Journal reports.
*Prior to the second-quarter earnings season, Raymond James analysts Bank of America Corp.and Wells Fargo & Co. to "market perform" from "outperform."Umpqua Holdings Corp. was downgraded to "outperform" from "strongbuy."
*S&P Global Ratings affirmedthe BBB- long-term issuer credit rating for BancorpSouth Inc. and the BBBlong-term and A-2 short-term issuer credit ratings for unit BancorpSouth Bank.
*Freddie Mac has completedjoint system-to-system testing with Common Securitization Solutions aspreparation for using their common securitization platform.
*Community Choice Financial Inc.'s indirect units signed an omnibus asset andequity swap agreement with QC Holdings Inc. and QC Financial Services Inc. toacquire all outstanding equityinterests of QC Financial Services of California Inc. and certainassets in Ohio, Mississippi, Arizona and Alabama from QC.
*Activist investor Joseph Stilwell calledon the management of Lacey, Wash.-based Anchor Bancorp to find a "suitablemerger partner."
*David Farnsworth is set to start working as chief credit officer of Ontario, Calif.-based CVBFinancial Corp. and unit Citizens Business Bank on July 18.
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