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WASHINGTON—Tighter loan underwriting by banks, prompted by the failure of Silicon Valley Bank and Signature Bank, is going to lead to a slowdown in economic growth in 2023, according to the International Monetary Fund estimated, which further cautioned that rising interest rates pose a threat to the global financial system.

SACRAMENTO, Calif.—The California Department of Financial Protection and Innovation (DFPI) has joined a multi-state settlement with Robinhood Financial LLC, which will pay up to $10.2 million in penalties for operational and technical failures.