The Latest
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Citi rolls out AI prompt training requirement to most staff
While a growing share of employers have rolled out artificial intelligence at work, comparatively few offer training at the contributor level, according to a recent survey.
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Kraken buys derivatives platform for $100M
CFTC-regulated Small Exchange is Kraken’s fourth acquisition this year, as a “clear and positive regulatory environment in the U.S. gives companies the confidence to invest and grow with more certainty,” one executive said.
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First Horizon keeps options open amid M&A uptick
The Memphis, Tennessee-based bank’s CEO is “increasingly confident in our ability to integrate a well-structured merger,” but also indicated the lender is focused on “optionality,” he said Wednesday.
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Tech-focused Erebor Bank gets conditional OCC approval
The bank, backed by billionaire investor Peter Thiel and founded by two tech pioneers, will serve companies focused on crypto, AI, defense and manufacturing.
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Stripe’s Bridge applies for national trust charter
Bridge joins a growing list of crypto-native firms, including Coinbase, Circle, Ripple and Paxos, which have applied for an OCC charter this year.
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Dive Deposits: AI is the throughline in Goldman’s $1B deal, right-sizing, earnings
“Even when the business is performing well, we have an obligation to review our operations carefully,” bank executives said, flagging "limited" workforce cuts by the end of the year.
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Robinhood CEO to community bankers: Don’t be too worried about AI
The chief executive of the day-trading fintech told a group of community bank CEOs last week that small, local lenders have a leg up when it comes to customer relationships.
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Crypto use trending down, Kansas City Fed says
A survey from the Federal Reserve regional outpost cast doubt on the notion that more U.S. consumers will adopt cryptocurrency for payments, even after a new law eased the path to crypto use.
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JPMorgan takes $170M charge-off on Tricolor ties
The bank’s CEO Jamie Dimon called the misstep, in connection to the bankrupt subprime auto lender, “not our finest moment.” He also warned that “when you see one cockroach, there are probably more.”
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Dive Deposits: Jefferies execs go on damage control over First Brands
The bank’s CEO and president distanced their company from the bankrupt auto parts supplier and emphasized Jefferies’ liquidity, assets and a burgeoning partnership ahead of its investor day Thursday.
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Retrieved from Federal Reserve on October 10, 2025
Fed’s Bowman, community bank CEOs press for tailoring
The central bank governor espoused adjusting asset thresholds, as did bank executives, who also advocated for deposit insurance reform and consistency among examiners.
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Citi rejects Grupo Mexico’s $9.3B offer for Banamex
The bank continued to show support for an earlier bid from billionaire Fernando Chico Pardo to take a 25% stake in the Mexican lender, in combination with an initial public offering.
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Bank of America fires up generative AI payments assistant
AskGPS was trained on more than 3,200 internal documents by the company’s in-house engineering team.
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Banks more often retain defrauded customers if they can attribute blame: study
Whether or not a bank’s fraud investigation results in finding the perpetrator “actually does matter quite a bit in terms of customers continuing with banks,” said Vamsi Kanuri, marketing professor at the University of Notre Dame.
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Bessent urges community bank CEOs to ‘go on the offense’
Community lenders that make it through the next decade will have embraced technology and attracted younger customers, the Treasury secretary said at a Fed conference Thursday.
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Lawmaker prods JPMorgan, BofA, BNY CEOs for Epstein info
Rep. Jamie Raskin, D-MD, wants the banks to turn over documents to the House Judiciary Committee by Oct. 22.
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4 takeaways from Michael Barr’s speech to community bankers
The Federal Reserve governor spoke of the cost opportunities of AI, reiterated his thoughts on the threat of deepfakes, and encouraged small banks to play to their strengths.
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BofA, Capital One, Citi lead charge to scale AI talent pool
AI headcounts increased at five times the rate of all hiring at the 50 companies analyzed by Evident Insights.
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North Dakota bank, Fiserv launch Roughrider stablecoin
The coin will be available “sometime next year,” the state’s industrial commission said. North Dakota will become the second state in the U.S., after Wyoming, to launch its own digital currency.
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Open banking also helps banks: fintechs
Fintechs are trying to rally support for U.S. open banking as regulators gather comments, ahead of an Oct. 21 deadline, to inform a revised rule.
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Jefferies discloses $715M exposure to First Brands
A subsidiary of the investment bank carried out invoice “factoring” between the bankrupt auto parts supplier and retailers like Walmart that bought First Brands’ materials.
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Fifth Third-Comerica bolsters Texas deal activity
Analysts look to pinpoint the next bank takeover target – citing First Horizon, Webster and Cadence – as the banking sector comes off its hottest M&A quarter in four years.
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Baltimore sues MoneyLion over alleged predatory lending tactics
City officials filed a lawsuit against the fintech, alleging it operates as a “modern-day payday lender,” charging customers exorbitant interest despite marketing its loans as “zero interest.”
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Citizens rolls out student hub to boost customer engagement, loyalty
The bank launched a resources section on its website geared toward offering holistic, personalized advice and resources for its student customers.
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Waters wants ‘prudent’ credit help for shutdown-affected borrowers
The lawmaker asked regulators to encourage lenders to be flexible with furloughed workers' temporary hardships. But a White House memo and comments by President Trump leave that prospect unclear.