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Data: Dealogic; Chart: Andrew Witherspoon/Axios

BB&T agreed to buy SunTrust Banks for $28.2 billion in stock, creating the country's sixth largest bank by assets and deposits. If approved, it would be the biggest U.S. bank merger since the 2008 financial crisis.

By the numbers: The merged bank will have $442 billion in assets, with BB&T contributing a little more than $225 billion and SunTrust contributing the rest, WSJ's Justin Lahart writes:

"A bank relief law passed last year raised the threshold for stricter oversight by the Federal Reserve to $250 billion in assets from $50 billion. With both banks on the verge of reaching that higher threshold, why not join forces and reap the cost savings of a merged entity?"

Go deeper: Regional banks BB&T and SunTrust to merge in $66 billion deal.

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Updated 40 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 11,520,461 — Total deaths: 535,499 — Total recoveries — 6,231,052Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 2,911,888 — Total deaths: 130,101 — Total recoveries: 906,763 — Total tested: 35,515,075Map.
  3. Public health: Case growth outpacing testing in hotspots.
  4. States: West Virginia becomes latest state to mandate facial coverings in public.
  5. Politics: Cuomo accuses Trump of "enabling" the coronavirus surge — Sen. Chuck Grassley opts out of attending GOP convention over coronavirus concerns.

Trump ramps up culture war attacks

Photo: Tasos Katopodis/Getty Images

President Trump's attacks are spreading to sports that are cornerstones of rural, conservative white American life.

Why it matters: The culture war that engulfed the NBA and NFL is reaching other major leagues, with teams that stonewalled activists for years suddenly showing a willingness to listen.

Foreign students could be forced to leave U.S. if colleges move online

Harvard University campus. Photo: Maddie Meyer/Getty Images

Foreign college students could be forced to leave the U.S. or transfer schools if their universities move classes entirely online this fall, according to guidance released by Immigration and Customs Enforcement (ICE) on Monday.

Why it matters: Several U.S. colleges and universities — most recently Harvard — have announced plans to move most or all courses online this fall due to coronavirus concerns. Many institutions rely heavily on tuition from international students.