The Latest

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    Seacoast bets big on The Villages in $710.8M deal

    The acquisitive bank will buy VBI, which touts a more than 50% deposit share in Florida’s largest retirement community, in a transaction set to close in the fourth quarter.

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    Dive Deposits: RBC has its eyes on the end of summer with RTO push

    The Canadian bank wants its hybrid employees in the office four days a week starting in September, something it's been laying groundwork for since 2023.

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    Ex-Goldman exec gets 2-year sentence over 1MDB scandal

    Prosecutors sought leniency for Tim Leissner based on his cooperation, which the bank pushed back on, saying the former executive’s efforts are “deserving of sanction, not praise.”

  • The entrance to the Consumer Financial Protection Bureau headquarters is seen, with the bureau's logo on a glass door.
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    Baltimore drops lawsuit over CFPB’s move to return funds

    Bureau leadership found there was no mechanism to transfer money the Federal Reserve had given the agency. Consumer advocates warned they could sue again if the CFPB tries again to defund itself.

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    Michael M. Santiago / Staff via Getty Images
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    SEC drops Binance lawsuit

    The regulator sued the world’s largest crypto exchange, its founder and its U.S. affiliate in 2023.

  • A UBS location in New York City is shown, with the letters "UBS" on the building front.
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    Caitlin Mullen/Banking Dive
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    UBS to sell hedge fund business to Cantor Fitzgerald

    The Swiss lender’s O’Connor unit, with $11 billion in assets under management, will return to the purview of Bill Ferri, a UBS veteran and O’Connor founder who’s now at Cantor Fitzgerald.

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    Anna Hrushka/Banking Dive
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    Bank profits rise in Q1

    The FDIC’s 4,462 insured banks saw a 1.16% return on assets and net income of $70.6 billion in the first quarter.

  • Charlie Scharf, Wells Fargo CEO
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    Wells Fargo’s Scharf assured over asset cap’s potential end

    “We’re not done, but we’re a hell of a lot closer to the end than the beginning, at this point,” the CEO said Wednesday.

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    TU IS
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    Blockchain firm, NJ county ink deal to digitize $240B of deeds on-chain

    Balcony, using the Avalanche blockchain, says that the Bergen County effort is the largest blockchain-based deed tokenization project in U.S. history.

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    Circle files for IPO

    The stablecoin issuer, seeking to go public since 2021, has shut down recent rumors about selling to potential buyers.

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    Fed stress test court case paused until Aug. 1

    Trade groups cited the central bank’s “progress” in proposing that lenders’ capital requirements be determined through a two-year average of stress test results.

  • A sign for CitiBank is seen on the bank branch in Manhattan on March 01, 2024 in New York City.
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    Spencer Platt / Staff via Getty Images
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    Citi sells Polish consumer business to VeloBank

    Upon closing, it will be the 10th international consumer business Citi has sold since 2021. The bank will maintain its institutional business in Poland, as it has elsewhere, following the sale.

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    BancFirst to buy Oklahoma lender hit with DOJ redlining order

    BancFirst seeks to buy American Bank of Oklahoma, which agreed to pay $1.15 million in August 2023 to settle a Justice Department investigation for failing to monitor and address fair lending risks.

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    Supreme Court exempts Fed from Trump firings

    A carve-out in last week’s SCOTUS emergency decision on agency official firings “poses a puzzle,” because the central bank’s independence rests on the same foundations as other federal agencies, a dissenting justice wrote.

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    CFPB to yank ‘unlawful’ open banking rule

    That move bends to bank groups that filed a lawsuit last year to block the Consumer Financial Protection Bureau rule aimed at making it easier for consumers to move their financial accounts.

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    DOJ, CFPB seek to end Trustmark redlining consent order early

    The agencies argue the bank paid its $5 million penalty and put money in a loan subsidy program. But the case signaled the start of a concerted Biden-era effort to fight lending discrimination.

  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Santander’s Openbank opens first US physical location

    The Miami location "is another opportunity to bridge our digital and in-person experience to deliver a truly differentiated offering,” Openbank US CEO Swati Bhatia said.

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    TD to cut 2% of workforce, wind down $3B portfolio

    The bank expects to record up to $505 million in restructuring charges over the next several quarters, said CFO Kelvin Tran. The portfolio, meanwhile, is tied to its U.S. point-of-sale financing business.

  • JPMorgan Chase CEO Jamie Dimon speaks during a Congressional hearing last December.
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    JPMorgan Chase launches geopolitics center

    CEO Jamie Dimon has long beat the drum on geopolitical awareness. Now, his bank wants to help clients make sense of it all.

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    PNC to buy Aqueduct to boost private equity capital-raise potential

    The deal is expected to close in midsummer, the companies said. Financial terms were not disclosed.

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    CFTC’s Kristin Johnson to exit, shrinking team further

    Johnson’s pending departure this year follows announcements last week that fellow commissioners Christy Goldsmith Romero and Summer Mersinger would leave at the end of this month.

  • A skyscraper with the word "Ally" on it is shown, with blue sky behind.
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    Inside Ally’s customer referral program

    The effort, launched last year, accounts for about 15% of the digital bank’s account volume, an executive said. Now Ally is adding a QR code and wants to use opportune moments to promote the program.

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    Circle co-founder to build new ‘AI-native’ bank

    Catena Labs recently secured $18 million in a seed funding round, which it plans to use to build a bank designed to serve the emerging AI economy, said co-founder and CEO Sean Neville.

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    Anna Hrushka/Banking Dive
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    FDIC eyes change in reserve ratio calculation

    Acting Chair Travis Hill suggested the agency use total liabilities rather than insured deposits as the denominator in the formula. The FDIC on Tuesday also rescinded a bank merger policy update from last year.

  • The US Capitol building is pictured February 13, 2021 in Washington, DC.
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    House follows Senate in overturning OCC merger review rule

    The joint resolution to roll back the regulator’s 2024 merger rule now heads to the president for a signature.