The Latest

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    Bill Pugliano via Getty Images
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    Barclays replaces Goldman Sachs as GM card issuer

    The London-based bank will issue two credit cards for the automaker in the U.S., beginning next summer.

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    Adobe Stock/Monkey Business

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    Sponsored by Shield Compliance

    From stigma to strategy: Bridging the gap between bankers and cannabis operators

    Move past stereotypes. Understanding today’s cannabis businesses allows financial institutions to boost their balance sheets while contributing to the sustained growth of the market. 

  • American bank building is pictured with an American flag flag on cold morning.
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    sshepard via Getty Images
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    Data overload thwarts digital transformation in banking

    Despite eagerness to scale AI capabilities, the financial sector remains mired in technical debt.

  • The Justice Department building on a foggy morning in Washington, DC.
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    Samuel Corum/Getty Images via Getty Images
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    Philly-area credit union to pay $6.5M in DOJ redlining settlement

    Citadel Federal Credit Union failed to provide mortgage lending services to residents of predominantly nonwhite neighborhoods between 2017 and 2021, the agency said.

  • JPMorgan CEO Jamie Dimon, seated near a floral arrangement, speaks during an event hosted by The Atlantic.
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    Tasos Katopodis / Stringer via Getty Images
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    Dimon won’t rule out government role

    The JPMorgan CEO largely dismissed the idea of serving in the next presidential administration, but he said, “I don’t make promises.” Wells Fargo’s CEO, meanwhile, said work on the bank’s AML issues is well underway.

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    Sean Pavone via Getty Images
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    Michigan bank ex-exec sues for alleged retaliation

    Todd Gray says bank higher-ups pushed him away when he showed concern about a new mortgage subsidiary. That subsidiary cost the bank millions of dollars before shutting down last year, he said.

  • First Interstate hires 37-year Colorado banking vet as next CEO

    Jim Reuter retired this year as FirstBank’s CEO, saying he was “looking forward to pursuing other interests.” As it turns out, that includes leading another bank.

  • Woman stands under TD Bank sign.
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    Drew Angerer via Getty Images
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    TD hit with asset cap, $3B in penalties over AML woes

    The bank will pay $1.8 billion to the Justice Department, $1.3 billion to FinCEN, and growth will be restricted in the bank’s U.S. retail unit.

  • Bottled water and other supplies are stacked in the foreground with a Truist branch location in the background.
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    Permission granted by Truist
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    After Helene, banks aim to meet needs ‘exactly where they’re at right now’

    With Hurricane Milton tearing through Florida just after Helene devastated parts of the Carolinas and Tennessee, banks with a heavy Southeast presence are working to provide employees and customers with financial relief and basic needs like showers.

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    Joe Raedle / Staff via Getty Images
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    LendingClub, Pagaya acquire tech assets of defunct Tally

    Tally’s assets will be integrated into the existing products of both firms, according to company spokespeople. Tally shuttered in August this year over failure to raise funds.

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    Getty Images/Staff via Getty Images
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    Credit union deal record extends

    Community First Bank is the 18th proposed whole-bank acquisition by a credit union this year, and the sixth with ties to Washington state.

  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi urges judge again to dump NY AG’s fraud suit

    Lawyers for the bank argue the state is trying to rewrite the Electronic Fund Transfer Act through “litigation” and that when consumers are deceived into sending money to criminals, it’s “not a Citi issue.”

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    Spencer Platt via Getty Images
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    NY comptroller projects Wall Street bonus boost for 2024

    Wall Street salaries, on average, slid again last year as profits tumbled from pandemic highs, but the state comptroller’s office predicts bonuses will grow 7.4% this year, as profits in the first half of 2024 soared.

  • Digital bank, Grasshopper Bank
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    Permission granted by Grasshopper Bank
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    Grasshopper Bank to buy Auto Club Trust

    Grasshopper's deal with ACT, a subsidiary of The Auto Club Group, would increase its assets to $1.4 billion.

  • cryptocurrency graphic
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    Dan Kitwood via Getty Images
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    Crypto.com sues SEC

    The exchange is now one of several sparring with the Securities and Exchange Commission.

  • Truist plaza is shown, with a sign reading "Truist" and the company's logo in the foreground, and the skyscraper in the background.
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    The image by Tyler Lahti is licensed under CC BY-SA 4.0
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    Truist customer data exposed in third-party breach

    The February breach involved personal information held by debt collector Financial Business and Consumer Solutions and did not impact Truist’s network, the bank said in a letter.

  • An aerial shot of Little Rock, Arkansas shows a river, bridges and a number of downtown buildings.
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    Creative via Getty Images
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    Tech costs, regulatory demands among community bankers’ top worries

    A recent survey of community bankers also cited cost of funds as a top risk, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” a Pennsylvania community bank CEO said.

  • The Wall Street street sign is visible in the foreground with a picture of a trader in front of the stock market on the left of the sign. Three american flags are out of focus in the background.
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    Spencer Platt via Getty Images
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    US banks largely lag on implementing net-zero best practices

    “What we see today in terms of their implementation and operationalizing of those [net-zero] commitments is far from sufficient,” the director of the Sierra Club’s Fossil-Free Finance Campaign said.

  • The financial district in Boston, seen against the Boston Harbor at sunrise showcasing a mix of contemporary and historic buildings.
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    Marcio Silva via Getty Images
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    Massachusetts mutual bank organization adds third lender

    Rollstone will add 10 locations, more than $900 million in assets, and wealth management and trust services to the River Run umbrella.

  • FTX signage is shown with a phone in the foreground
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    Leon Neal / Staff via Getty Images
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    FTX bankruptcy plan would give ex-customers an extra 19%

    Creditors will receive up to $16.5 billion, nearly two years after their funds were frozen by the crypto firm’s shocking bankruptcy, according to a plan approved by a judge Monday.

  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    Fed faults Wyoming bank IT exec over document sharing

    While IT manager at Bank of Jackson Hole, Lindsay Graves shared 50,000 documents — some of which contained confidential supervisory information — with a former employee, the Federal Reserve said.

  • A panoramic view of Waikiki and Diamond Head from Tantalus lookout in the Puu Ualakaa State Park, Honolulu, Oahu, Hawaii.
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    zhuzhu via Getty Images
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    Hawaii bank postpones acquisition-vote meeting

    Territorial Bank sent a letter urging shareholders to vote in favor of the acquisition by Los Angeles-based Hope Bancorp and not get distracted by another investor’s “illusory, non-binding, highly conditional” proposal.

  • The Phoenix metropolitan area has seen growing hotel occupancy, ADR and RevPAR in recent years driven by strong travel fundamentals.
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    dszc via Getty Images
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    Arizona credit union-bank deal pushes 2024 to new record

    Phoenix-based OneAZ Credit Union's proposed acquisition of 1st Bank Yuma marks the 17th whole-bank purchase by a credit union this year, surpassing a 2022 record. 

  • San Diego skyline
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    Cristian Lourenço / Getty Images via Getty Images
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    Broker-dealer LPL fires CEO for breaking firm’s code of conduct

    Dan Arnold violated LPL’s “commitment to a respectful workplace,” the company said without further details. He’s ineligible for severance and will forfeit much of his equity awards.

  • Sen. Elizabeth Warren, wearing a red jacket, speaks into a microphone during a Congressional hearing.
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    Michael A. McCoy / Stringer via Getty Images
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    OCC should restrict Citi’s growth, Warren says

    The senator cited a four-step framework the OCC's Michael Hsu floated last year, with growth restriction as a follow-up to penalties. Citi’s July penalties merely repeat Step 2, the senator said.

  • A group of people wait outside a grocery store glass door that has a sign posted on it.
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    Jonathan Drake/Reuters

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    Hurricane Helene aftermath prompts card, cash troubles

    After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.