The Latest
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Courtesy of Comerica
Comerica filing details back-and-forth with Fifth Third, ‘Institution A’
The bank provided more information Thursday as its deal with Fifth Third has drawn litigation alleging a lack of transparency.
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TU IS
SoFi launches stablecoin infrastructure
Banks and fintechs will be able to white-label SoFi’s stablecoin, and those stablecoins will be interchangeable with SoFiUSD, a spokesperson for the company said.
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Arturo Holmes / Staff via Getty Images
California’s Community West to acquire United Security in $191.9M deal
The two Fresno-based banks will combine to create a “more robust and more visible” $5 billion-asset lender, Community West’s CEO said. The transaction is set to close in the second quarter of 2026.
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Mesut Dogan via Getty Images
Fed terminates Goldman, Metropolitan consent orders
The cease-and-desists date back to 2020 and 2023, tied to the 1MDB scandal and prepaid cards, respectively.
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Anna Hrushka/Banking Dive
FDIC details workforce cuts, stablecoin issuance process
Comptroller of the Currency Jonathan Gould, an FDIC board member, supported the agency’s proposed budget but expects further room to trim it. He also hinted at budget cuts to come at the OCC.
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Alamy
Why PNC joined FedNow
The bank finally joined the Federal Reserve’s instant payments system this year after a significant Treasury Department announcement.
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Tech-focused Erebor gets FDIC nod for deposit insurance
The proposed bank, backed by billionaire investor Peter Thiel, received conditional approval from the OCC in October.
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ServisFirst aims to put down Texas roots
The Alabama-based commercial bank named a Texas regional CEO and said it would open a Houston office, in the latest move by a lender to expand in the coveted Lone Star State.
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Alamy
Huntington waves off expanding beyond Cadence footprint
“We’re not going to be trying to go national, or West Coast, or Northeast, or other stuff,” CEO Steve Steinour said last week at an investor conference.
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RBC’s City National makes Carolinas push
The Los Angeles-based bank opened offices in Charlotte and Greenville to house roughly 120 area employees amid a regional growth spurt that has swept up U.S. Bank, PNC, Huntington, Citi and more.
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Alamy
PayPal seeks bank charter
The payments pioneer has applied with the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to form an industrial bank.
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Justin Sullivan / Staff via Getty Images
Wells Fargo branch in Connecticut files for union election
Employees at Wallingford’s North Colony branch wrote to Wells Fargo CEO Charlie Scharf this month, noting understaffing and last-minute schedule changes, and imploring him to recognize their union.
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Daniel Berehulak via Getty Images
Neobank N26 hires UBS exec as next CEO
Mike Dargan, who starts in April, had served as the Swiss bank’s chief operations and technology officer. His hire ends a shuffle that began when N26 co-CEO Valentin Stalf said he would step down.
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Courtesy of Comerica
Investor HoldCo urges Comerica shareholders to reject Fifth Third deal
Fifth Third is “obligated to try to re-cut” the deal, HoldCo said, adding the bank likely didn’t expect Comerica to accept “the low end of its first offer.”
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Joe Raedle / Staff via Getty Images
Q&AWells Fargo sees digital boost from branch refurbishments
The bank plans to renovate branches in Los Angeles, San Francisco and Atlanta in 2026, the lender’s head of branch systems and transformation said.
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Michael M. Santiago via Getty Images
JPMorgan conducted ‘fake’ interviews of Black candidates, lawsuit alleges
The bank’s treatment of the plaintiff is part of a decades-long “unbroken pattern of systemic race discrimination against African Americans,” per the lawsuit.
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Jemal Countess/for TIME via Getty Images
OCC green-lights Circle, Ripple, Paxos for national trust bank charters
Five firms in all received conditional approval from the regulator, though Coinbase and Stripe’s Bridge were not among them.
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Courtesy of PNC
Fed approves PNC’s $4.1B acquisition of FirstBank
The regulatory green light came 94 days after the deal was announced. That timeline presumably bodes well for three other bank tie-ups with higher price tags, proposed between July and October.
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Permission granted by Grasshopper Bank
Fintech Enova to buy Grasshopper Bank for $369M
The deal, projected to close in the second half of 2026, would give Enova access to a national bank charter, which it’s been seeking since at least 2020.
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Getty Images
Fed reappoints reserve bank presidents
Speculation grew over the summer that the Trump administration would try to exert more influence over regional Fed leadership, and that some appointments may draw dissent.
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Getty Images
OCC cites 9 big banks’ ‘inappropriate’ debanking actions
The agency stopped short of detailing specific instances but pointed to policy statements from 2020 through 2022 in a preliminary report issued Wednesday.
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Alex Wong / Staff via Getty Images
PNC’s Demchak bemoans M&A speculation
The PNC CEO said everyone’s a buyer, and price tags are too high on small-bank sellers. But at the same time, he blasted critics of his franchise’s FirstBank deal.
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Alamy
MoneyGram swipes Wells Fargo exec for CFO
In February, Marc Winniford will take the finance reins of the legacy cross-border payments company that is seeking to digitally overhaul its sprawling operations.
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Caitlin Mullen/Banking Dive
Fifth Third CEO downplays HoldCo lawsuit over Comerica deal
The lawsuit against Fifth Third and Comerica has “been filed for basically every major deal” done over the past several years, “and I expect that'll work its way out through the courts in due time,” Tim Spence said Wednesday.
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Drew Angerer / Staff via Getty Images
‘The world is our oyster now’: Wells Fargo CEO
Charlie Scharf spoke Tuesday on his bank’s outlook, post-asset cap. He called AI a “positive reality,” but hinted at fourth-quarter job cuts.
