The Latest

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    NYCB postpones profitability goal to 2026

    The embattled bank recorded a $280 million loss for the third quarter and said it expected to post a loss for 2025, while whittling its profit forecast to 75 cents to 80 cents per share rather than $1.25.

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    Dive Deposits: Gorman to get $400K a year as Morgan Stanley’s chair emeritus

    The bank named CEO Ted Pick its next board chair. But Pick's predecessor will retain access to a car and driver, an office and certain controls over expenses through 2026. He'll also lead Disney's board.

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    TD faces investor lawsuit over AML failures

    The lawsuit alleges bank executives minimized the AML issues and made no indication of the severity of the punishment TD faced.

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    NY AG adds to scrutiny of Capital One-Discover deal

    New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could see impact.

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    Tennessee credit union crosses state line in bank purchase

    Y-12 Federal Credit Union will expand into Kentucky by acquiring First State Bank of the Southeast — the 19th whole bank-credit union deal announced this year.

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    Intesa Sanpaolo to cut 9,000 jobs in AI-fueled push

    Italy’s largest bank aims to hire 3,500 “young people,” many in hybrid contractor roles, in a “generational” shift to artificial intelligence, along with greater emphasis on wealth and insurance.

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    Industry balks at FDX standard-setting monopoly

    Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

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    Trade groups challenge CFPB’s open banking rule on Day 1

    Liability over data security emerges as a top concern as the Bank Policy Institute and a Kentucky trade group and bank sue the bureau, arguing overreach.

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    Goldman, Apple to pay CFPB $89.8M over Apple Card issues

    The bank and tech firm failed to address disputed transactions from their joint Apple Card program, the bureau alleged, and misled cardholders about interest-bearing products.

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    Huntington CFO sees acceleration of fintech venture opportunities

    Declining interest rates are opening the gateway for a “regrowth” of funding activity, said Zachary Wasserman, CFO of the Columbus, Ohio-based bank.

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    SoLo Funds hit with lawsuit over ‘tips,’ ‘donations’ features

    The proposed class action filed last week in a California federal court alleges the fintech misleads borrowers with advertising that deceptively claims to offer zero-interest loans and no hidden fees.

  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    CFPB issues final rule on open banking

    Payment apps are included in the data-control rule, in a change from last year’s proposal. Banks and credit unions with less than $850 million in assets are exempt.

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    HSBC names first woman CFO amid restructuring

    The bank is simplifying its business into four spheres, but the changes will mean inevitable reductions for "duplicated" senior roles, CEO Georges Elhedery warned.

  • 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 debuts digital bank in US

    With Openbank, already established in Europe, the lender aims to accelerate its U.S. growth strategy by generating more deposits to fund its auto lending.

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    Truist to pay $9.1M over lead poisoning payouts

    Truist predecessor SunTrust approved disbursements that weren’t in the best interests of beneficiaries of trust accounts linked to a lead poisoning settlement, the Justice Department said.

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    JPMorgan hires NOAA climate scientist to lead climate advisory practice

    Sarah Kapnick rejoins the bank after a stint as the National Oceanic and Atmospheric Administration’s presidentially appointed top scientist.

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    Oklahoma bank fails, in-state peer buys insured deposits

    Alleged "fraud" is believed to be behind the First National Bank of Lindsay's failure, the second U.S. bank collapse this year. The FDIC’s Deposit Insurance Fund will take a roughly $43 million hit.

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    Atlantic Union Bank to buy Sandy Spring in $1.6B deal

    The acquisition would give the Virginia lender’s footprint the “Golden Crescent” it has sought for years, with 53 added branches in the D.C. area and Maryland, roughly doubling its wealth business.

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    Synapse-related funds to be disbursed soon, Evolve says

    Customers who are owed money will be asked to choose a payment method Nov. 4, with payments beginning “shortly thereafter,” the bank said Saturday.

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    Fiserv may grab competitive edge with new bank charter

    The payments processor can undercut rivals on price because it won’t be paying bank fees, industry consultants say.

  • A sign reads "New York Community Bank" and "A division of Flagstar Bank, N.A., Member FDIC"
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    NYCB to shrink headcount by 1,900

    The bank cut roughly 700 employees, or 8% of its workforce, it said Thursday, and anticipates shedding another 1,200 when it sells its mortgage servicing and third-party origination business.

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    OCC hits Florida bank over AML concerns

    Maitland-based Axiom Bank agreed to revamp its BSA/AML program and look back at its suspicious activity reporting history.

  • The JP Morgan Chase & Co. company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 23, 2024 in New York City.
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    JPMorgan Chase leads banking sector in AI adoption: report

    In a tightening race, Capital One gained ground by adding engineering talent, according to Evident research published Thursday.

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    OCC bans ex-Citi, JPMorgan bankers over fraud, data sale allegations

    In one instance, a banker convicted of prior fraud took her sister’s identity to regain employment at Citi, the OCC said.

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    FDIC’s bank failure fund may be repaid ahead of schedule

    The reserve ratio for the Deposit Insurance Fund will reach the statutory minimum level in 2026, ahead of a 2028 deadline, the agency’s staff projected, though that estimate is “subject to uncertainty.”