The Latest

  • The Michigan state capital building in Lansing
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    Bill Pugliano via Getty Images
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    Michigan, Georgia banks propose to buy in-state peers

    Mercantile Bank Corp. will buy Eastern Michigan Financial Corp. in a $95.8 million deal, while Colony Bankcorp inked a $86.1 million deal with TC Bancshares. 

  • open banking fintechs banking Trump
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    Chip Somodevilla via Getty Images
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    Fintech trade groups seek Trump aid on open banking

    Fintechs and merchants urged the president to take on big banks and let the Consumer Financial Protection Bureau’s open banking rule move forward.

  • A Truist bank branch located in a shopping center at night, with illuminated signage and a purple ATM on the exterior wall. The building has large windows showing the interior, and adjacent businesses including a seafood restaurant named "The Juicy Seafood" and a dentist office are also visible.
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    Alamy
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    Ex-Truist employee stole $195K in customer funds, faked her own death

    Ahshah Dior Martin pleaded guilty to bank fraud Tuesday. She faces up to 30 years in prison.

  • Aerial view above Lake Merritt in Oakland, California. Looking across the lake at downtown Oakland with skyscrapers in the distance.
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    DianeBentleyRaymond via Getty Images
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    San Francisco credit union to buy California bank

    The deal marks the eighth whole-bank purchase by a credit union announced this year.

  • A commercial building with large windows; the sign “Capital One Bank” appears in white letters with a red swoosh over a glass entrance.
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    Alamy
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    Discover costs mount for Capital One

    Integration costs will surpass the original $2.8 billion estimate, CEO Richard Fairbank said Tuesday. Capital One reported a $4.3 billion second-quarter loss.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally makes AI platform available companywide

    The bank’s proprietary artificial intelligence platform, Ally.ai, has been tested with 2,200 employees in marketing, audit and technology over the past 18 months, its CIO said.

  • A close-up photo of Todd Harper, who served as chair of the National Credit Union Administration board.
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    Kevin Dietsch / Staff via Getty Images
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    Judge reinstates fired NCUA members

    President Trump fired Todd Harper and Tanya Otsuka in April, leaving one sole member to perform supervisory and enforcement duties over the U.S.’s more than 4,000 credit unions.

  • Indianapolis city skyline at sunset
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    RudyBalasko via Getty Images
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    Old National names KeyBank exec president, COO

    Tim Burke oversaw commercial banking in 12 markets at KeyBank, including Chicago. He succeeds Mark Sander, who retired from Old National this year.

  • Federal Reserve building renovations
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    Michael M. Santiago via Getty Images
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    Column

    Dive Deposits: Fake Powell resignation catches senator off-guard

    Sen. Mike Lee, R-UT, posted and deleted a potentially AI-generated letter concerning the Fed chief. Meanwhile, a White House rep confirmed he’ll visit the central bank renovation site Thursday.

  • Shot of Ripple XRP token
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    Jack Taylor via Getty Images
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    Trade groups push back on crypto firms’ bank charter pursuit

    The ABA and other trade groups have urged the OCC to delay approving national trust bank charter applications from Ripple, Circle and other crypto firms, citing “substantial concerns.”

  • Two blue ATMs are housed within a modern facade featuring the PNC logo above and are accessible from the sidewalk.
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    Alamy
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    PNC, Coinbase team up on crypto-as-a-service

    The nation’s largest crypto exchange and its seventh-largest bank are joining in their “commitment to a more resilient digital financial system,” the firms said Tuesday.

  • Sam Altman presenting at OpenAI'S first DevDay
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    Justin Sullivan via Getty Images
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    OpenAI’s Altman didn’t expect banks to take to AI so soon

    Financial institutions have been surprise early adopters of ChatGPT, and the AI industry is on the advent of "intelligence too cheap to meter," OpenAI's CEO and co-founder said at a Fed event Tuesday.

  • Federal Reserve Governor Michelle Bowman stands behind a podium and speaks.
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    Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
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    Fed capital conference panelists stress need for Basel III alignment

    An all-day conference Tuesday gave industry experts a platform to press regulators to take a holistic approach to bank capital rules.

  • Seal of the Board of Governors of the United States Federal Reserve System.
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    LD via Getty Images
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    Ex-Richmond Fed supervisor agrees to $652K penalty

    Robert Brian Thompson, who pleaded guilty to insider trading in November, was barred from the banking industry in April.

  • Donald Trump and Jerome Powell
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    Drew Angerer via Getty Images
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    Column

    Dive Deposits: Even Elizabeth Warren is coming to Powell’s defense

    The senator knocked the FHFA chief over voluminous social posting. Meanwhile, the Fed published a video tour of its renovations, and Treasury Secretary Scott Bessent expounded on his recent comments.

  • The building features the bank's distinctive green and white signage, with large glass windows and a brick façade with a clear blue sky behind it.
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    Alamy
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    Huntington CFO: Veritex met ‘high bar’ for acquisitions

    The Columbus, Ohio-based bank is largely focused on growing organically, although it remains “opportunistic” about compelling deals, the regional’s finance chief said.

  • Navy Federal Credit Union, Douglasville Georgia location
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    Permission granted by Navy Federal Credit Union
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    Senators demand details behind CFPB ending Navy Federal order

    Sen. Ruben Gallego, D-AZ, led lawmakers accusing the bureau of “lip service” over its refocus toward “threats” to service members and veterans, in its “abrupt” reversal on a $95 million penalty against the credit union.

  • The Office of the Comptroller of the Currency logo
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    Creative via Getty Images
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    OCC bans former Webster general counsel, ex-TD, JPMorgan bankers

    The regulator barred James Blose, Webster Bank's former general counsel, from working in the industry after he was sentenced to prison over a $7.4 million embezzlement scheme.

  • Federal Reserve building renovations
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    Michael M. Santiago via Getty Images
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    Bessent eyes review of Fed amid Trump dust-up with Powell

    The treasury secretary’s latest comments contrast with his earlier alleged role as peacemaker. The president, meanwhile, continued to rail against the Fed chief and the outlet that characterized Bessent as a cooler head prevailing.

  • People walk in front of a JPMorgan Chase & Co. sign at its headquarters in New York City.
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    Spencer Platt via Getty Images
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    Judge grants injunction against JPMorgan to Viva Wallet directors

    U.K. Judge David Foxton stopped the bank from suing the directors of Viva Wallet in Greece on grounds that the fintech violated its agreement with majority shareholder Werealize.

  • Aerial view of skyscrapers in downtown Houston against cloudy sky
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    simonkr via Getty Images
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    Texas, Wisconsin banks agree to buy in-state peers

    Prosperity Bancshares in Texas agreed to buy American Bank in a $321.5 million deal, while Bank First Corp. inked a $174.3 million deal with Centre 1 Bancorp. 

  • The Phoenix metropolitan area has seen growing hotel occupancy, ADR and RevPAR in recent years driven by strong travel fundamentals.
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    dszc via Getty Images
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    Western Alliance names JPMorgan vet its next CFO

    Vishal Idnani will take the CFO reins in January. Dale Gibbons, who’s been the bank’s finance chief for two decades, will become chief banking officer for deposit initiatives and innovation at the lender.

  • Michael James Blair, FED headquarters renovations
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    Bonnie Cash via Getty Images
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    Powell defends Fed renovation in letter to Vought

    The OMB chief said representatives from his agency aim to visit the central bank site “in the next week.” Meanwhile, a potential successor at the Fed pushed a vision for partnership with the Treasury.

  • State Street headquarters in Boston, MA, USA, on Nov. 11, 2023.
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    JHVEPhoto via Getty Images
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    State Street CTO moves to CIO role

    Andrew Zitney shifted into the role this week, filling a vacancy that opened when Brian Franz took a tech leadership position with Estée Lauder in April.

  • Bank sign on glass wall of business center.
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    ultramarine5 via Getty Images
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    Banks diversify cloud portfolios to bolster resilience

    Financial firms are leaning on cloud to improve customer service and power long-term growth, London Stock Exchange Group found.