The Latest

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    Rent fintech Flex applies for ILC charter

    Jeff Berkson, who until May served as chief risk officer at WebBank, will be the bank’s proposed CEO. The lender will be based in the Salt Lake City area and operate nationally through digital channels.

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    Alamy
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    Huntington banks on fee growth amid deposit cost competition

    As the regional lender’s deposit costs edge up, strong fee revenue can offset the bank’s slightly lower than expected net interest income, CFO Zach Wasserman said.

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    Banco Popular CEO to retire

    Puerto Rico’s largest lender is moving its CFO, Jorge García, into its chief executive role when Javier Ferrer exits the bank Aug. 31.

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    BitMEX to shutter after 11 years

    HDR Global Trading Limited, BitMEX’s owner and operator, has decided to close the cryptocurrency exchange following a strategic review of the business and crypto industry.

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    OCC rejects Wise’s trust charter application over ‘deficiencies’

    The British fintech said it plans to submit a new application for a U.S. trust charter under a Genius Act framework.

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    Upstart nabs conditional bank charter

    “We've been challenged extensively throughout the process, and that's exactly what should happen when an institution is seeking the privilege of becoming a national bank,” an Upstart executive said.

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    Democrats grill CFPB nominee over CapOne, staff-cut plan

    Capital One executive Brian Johnson weathered a testy exchange with Sen. Elizabeth Warren over potential conflicts of interest. Johnson said the CFPB has “deficiencies” but is “capable of great good.”

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    Q&A

    Tasks, not customer tiers should drive bank AI use: Deloitte

    Everybody needs “to be heard, comforted, educated in times of high stress,” a Deloitte consultant said. Customers who are lower on the value scale need to receive the same excellent experience “or you're going to lose them.”

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    Alaska bank to buy Oregon lender for $167.3M

    By acquiring Medford, Oregon-based People’s Bank of Commerce, Anchorage-based Northrim Bank will grow to $4.2 billion in assets and 32 branches.

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    Black-owned banks Optus, M&F to merge

    The roughly $105 million deal, set to close in the fourth quarter, will create a $1.3 billion-asset entity, the largest Black-owned bank in the country, the institutions said Wednesday.

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    GOP lawmakers press Fed’s Bowman for faster bank M&A approvals

    Republicans on the House Financial Services Committee this week urged Michelle Bowman to conduct a review of “long-pending applications” focused on “removing obstacles to final action.”

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    Warren sounds alarm on CFTC staffing

    “The CFTC may be inhibited in meeting [its] mandate due to staffing cuts that threaten to weaken its enforcement,” Sen. Elizabeth Warren wrote to a government watchdog.

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    Washington credit union to buy Oregon bank

    Acquiring Willamette Valley Bank will push Gesa Credit Union’s assets past $7 billion and give the institution its first presence in the Beaver State.

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    Ohio’s First Financial expands Chicago footprint in $208M deal

    Acquiring northwest Indiana’s Finward Bancorp would give First Financial an extra $2 billion in assets and 24 added branches around the nation’s third-largest market.

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    CBA banking school offers ‘immersive’ education for would-be execs

    How one executive education program became a proving ground for the banking industry's future leaders, like Eastern Bank President Quincy Miller.

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    How Bank of America’s rewards program courts Gen Z

    The bank’s redesigned loyalty program, which made it easier to become a member, added more than 3 million customers in the seven weeks since launch.

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    Chime launches an investment feature

    Chime Invest allows users to buy stocks and exchange-traded funds commission-free through its app. Customers may also choose to have portfolios managed through a partner.

  • The Bank of America logo is displayed on a sign in front of a Bank of America office on July 16, 2025 in Sunnyvale, California.
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    Justin Sullivan / Staff via Getty Images
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    Bank of America upgrades customer service employee tool

    Generative AI capabilities added to EricaAssist will allow customer service employees to handle client inquiries more quickly, the lender said.

  • A person walks past the metal and glass doors of a TD Bank branch. The doors read "America's Most Convenient Bank."
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    Ex-TD Bank employees sentenced to prison for money laundering, fraud involvement

    Former TD assistant store manager Wilfredo Aquino processed bank checks totaling $92 million for money laundering network leader Da Ying Sze, in exchange for about $11,000 worth of retail gift cards.

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    Fed bans former Illinois bank exec

    James Burns, a former chief lending officer, approved loans based on inflated appraisals, causing the acquirer of his employer to lose money.

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    The image by Piaras Ó Mídheach/Web Summit via Sportsfile is licensed under CC BY 2.0
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    Celsius founders to pay FTC $16.5M

    Alex Mashinsky and Shlomi Daniel Leon are banned from marketing or selling products to deposit, exchange, invest or withdraw assets. Hanoch Goldstein must not market or sell crypto-trading products.

  • A close-up of a building with Capital One signage is shown.
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    CFPB nominee Johnson agrees to Capital One recusal

    The bank executive, who faces the Senate Banking Committee on Thursday, pledged to forfeit any unvested Capital One restricted stock. The bank, however, is letting him keep bonuses from 2024 and 2025.

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    Kansas’ Small Business Bank fails

    The Fed last month gave the Lenexa, Kansas-based lender 30 days to increase its equity, after two previous enforcement actions. It’s the fourth bank collapse of 2026 and the second in seven days.

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    Citizens to exit agreements with CoreCivic, GEO

    Citizens called the end of its relationships with the ICE contractors “a business decision” that “does not reflect any change in our view regarding these companies' business models or operations.”

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    Banks report operational changes driven by AI adoption

    Executives at Bank of America, Citi and JPMorgan Chase highlighted the scale of ongoing AI adoption efforts and effects on operations.