The Latest
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BNY offers cyber, AI training for community bankers
The program is set to address cybersecurity, artificial intelligence and data analytics – topics that came up in a survey of community bankers BNY fielded last year.
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JPMorgan Chase flags end of government checks
The bank says it’s striving to make branch customers aware of the federal government’s plan to stop sending paper checks Sept. 30.
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U.S. Bank revives bitcoin custody
The Minneapolis-based lender paused its bitcoin custody offering in 2022, but “enhanced regulatory clarity” has brought the service back to life, an executive said.
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FNB dives deeper into the Southeast
First National Bank aims to add more branches in North and South Carolina, joining a growing list of banks doubling down on their presence in the region.
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Kansas bank to broach Nebraska in $122.8M deal
Equity Bancshares’ merger with Frontier Holdings, set to close in the fourth quarter, is expected to bolster the Wichita lender’s footprint with seven added locations, along with $1.4 billion in new assets.
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JPMorgan Chase’s ‘small bites’ approach to growth pays off
The largest U.S. lender is closely tracking customer migration as it maps out where to add more branches, its Southeast consumer-banking lead says.
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Gemini IPO aims for $2.2B valuation
The crypto exchange plans to sell 16.67 million shares at between $17 and $19 each in the offering, and expects to list on Nasdaq under the ticker GEMI.
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Figure eyes $4.13B valuation in IPO
The blockchain startup and certain investors aim to sell more than 26 million shares at $18 to $20 each. The company outlined go-public plans during the same week as crypto exchange Gemini and BNPL provider Klarna.
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Fed’s Cook defends mortgage details
Lawyers argued the government was aware — before the central bank official was nominated — of the “inconsistencies” that prompted President Donald Trump to fire her.
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HSBC US CEO leaves for Deutsche Bank
Lisa McGeough took the helm of the British lender’s U.S. operations in January. Jason Henderson, deputy head of U.S. banking at HSBC, has stepped into McGeough’s former role.
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Morgan Stanley wants Fed to lower its stress capital buffer
The request comes a year after Goldman Sachs successfully petitioned the central bank to reduce its stress capital buffer.
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Illinois credit union to buy bank; NCUA closes Maryland credit union
Fewer CU-bank deals have been announced in 2025, and the NCUA has been plagued with changes.
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Cook hearing ends with no ruling
A judge in the dispute over the alleged firing of the Fed governor by President Donald Trump grilled lawyers on each side over the notions of cause, notice and due process.
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Celtic Bank ‘fueled’ Ponzi scheme, lawsuit alleges
A group of investors is accusing the Utah-based lender of conspiracy to defraud and racketeering in connection with what the Justice Department has labeled a $200 million water vending machine scheme.
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ANZ bankers learned they were axed in email error
Roughly 300 retail bankers at one of Australia’s largest lenders discovered, through an automated email – before higher-ups told them – that they were losing their jobs.
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Citi rolls out a pair of AI-powered banking platforms
The bank’s data, analytics and innovation team deployed two client-communication assistants for its wealth advisory division Monday.
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Fed’s Cook sues Trump over attempted firing
The president’s dismissal of the central bank governor does not meet a “for-cause” standard, attorneys said.
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JPMorgan Chase relaunches HELOC loans after 5-year break
The bank stopped offering home equity lines of credit in April 2020 due to economic uncertainty and now looks to capitalize on high home values.
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First Horizon doubles down on Charlotte hiring
The Memphis, Tennessee-based regional lender is tapping the North Carolina city’s talent pool to grow its digital team, said Laura Bunn, the bank’s mid-Atlantic regional president.
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CFPB sues Synapse, plans to use victims’ fund to pay end users
Customers whose funds have been frozen since April 2024 will be paid out of the CFPB’s civil penalty fund, if a court approves.
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Aspiration co-founder pleads guilty in wire fraud case
Joe Sanberg falsely inflated revenue, available cash and a fellow board member’s assets to fleece $248 million from investors and lenders, the Justice Department said.
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FDIC: Capital One-Discover deal dents Q2 bank profit
Aggregate net income for banks insured by the regulator fell 1%, to $69.9 billion, in the quarter, due to higher provision expenses tied to Capital One’s acquisition of Discover.
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Column
The Fed isn’t immune to Trump’s bold choices in a new regulatory wave
In Trump’s first six months, radical moonshots were reserved for the CFPB and NCUA. But the president’s attempt to fire Lisa Cook is the flip of a switch contrasted against the Fed’s relatively slow pace of change.
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Union: Wells may have secretly recorded meetings
WFWU alleges that the bank was secretly recording in-person bargaining meetings. Wells Fargo denies these claims, saying it “expressly prohibits the recording or transcription of meetings.”
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CFPB proposes trimming its nonbank purview
A rule proposed Tuesday would restrict the bureau’s ability to supervise nonbanks. The agency aims to adopt a binding, standardized definition of “risks to consumers” that would make enforcement consistent, it said.