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Warren, Warsh spar over Bowman’s appearance at private dinner
Fed Chair Kevin Warsh said he supports an inspector general’s investigation of Fed Gov. Michelle Bowman’s reported appearance at a private dinner hosted by Bank of America during a Fed blackout period.
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Sponsored by KyndrylToday’s banks are fueled by technology - 4 strategic recommendations for success
Discover four strategic recommendations for building a more agile, customer-centric and future-ready bank.
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Wells Fargo debuts AI-powered teammate for financial advisers
The new capability aims to simplify access to Wells Fargo’s core technology platform, enabling plain language queries and faster access to insights.
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NC’s First Bank to buy SC lender for $166M
Buying Carolina Bank & Trust would add 14 branches to First Bank’s existing 113-location footprint and push the acquirer well past $13 billion in assets. The deal is set to close by the first quarter of 2027.
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Citi flags potential for more severance this year
The bank, which has reduced headcount by about 5% over the past year, is focused on finding efficiencies to fund investments, executives indicated Tuesday.
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Bank of America’s chatbot Erica continues to amplify digital engagement
Active users of Bank of America’s chatbot grew 23% year over year to 24.6 million.
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Custodia petitions Supreme Court over Fed access
The Wyoming-based crypto bank has argued unsuccessfully for a Fed master account for years. Now it’s calling the central bank’s denial a “death sentence.”
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How PayPal may benefit Stripe
The digital payments startup has reportedly made a bid for a stake in its older predecessor, potentially creating a massive processor.
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JPMorgan’s Dimon: Lake chose retirement after board named co-presidents
The CEO didn’t say what prompted last month’s appointment of Doug Petno and Troy Rohrbaugh as co-presidents, but referred to it as “a natural change” in the bank’s succession planning process.
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First Hawaiian to buy California’s TriCo in $2B deal
The acquisition, set to close by year-end, marks a return to the mainland for the Hawaiian lender, which was once part of BNP Paribas’ U.S. network.
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Regulators issue guidance on lending to unauthorized workers
Financial institutions should “identify, measure, monitor and control these risks” in a way that that assesses “a borrower’s willingness and capacity to repay,” regulators said.
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Texas Capital picks U.S. Bank alum as chief digital, information officer
Mo Jamous will lead the Dallas-based bank’s AI initiatives and strengthen its technology platform.
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OCC shutters smallest US bank
Customers of Kentland Federal Savings and Loan Association of Kentland, Indiana, automatically became customers of nearby but unrelated Kentland Bank, which was appointed receiver by the FDIC.
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CFPB, union agree to give Trump pick a say on staff-cut plan
Brian Johnson, the nominee to lead the CFPB, would get 60 days to review the workforce reduction plan if the Senate confirms him, a district judge said Thursday.
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Deutsche Bank fined $2M by Australian regulator
It’s the second fine this year for the German bank, though it did not admit guilt or liability.
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Valley Bank exec: AI is changing build-versus-buy question
The New Jersey-based lender is using tiered employee access to control AI costs while pursuing internal efficiencies and relationship-building use cases, its chief operating officer said.
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Circle gets OCC’s full trust bank charter nod
The company’s CEO, Jeremy Allaire, said the development “marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system.”
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Fed faults Iowa bank holding companies
TS Banking Group and its bank holding company subsidiary TS Contrarian Bancshares must strengthen capital at two subsidiary banks, the central bank ordered.
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Louisiana bank buys financial consulting firm
Business First Bancshares, parent company of b1BANK, is a serial acquirer. This marks its seventh deal since 2020.
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Fed stands out among bank enforcement action decline: Brookings
Enforcement action activity by federal banking agencies has fallen over the past decade, according to a study published Wednesday.
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Activist investors push Alabama bank to use its built-up equity
United Bancorporation of Alabama has teased the prospect of M&A, but since a $123 million cash infusion, its expenses have ballooned and deposits have stagnated, investors said.
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Courtesy of PNC
PNC’s new mobile banking app built on personalization
The Pittsburgh-based bank wanted to debut a customizable app with more features and functionality “without making it heavy,” said Alex Overstrom, the lender’s head of retail banking.
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Retrieved from OCC.
Sony receives OCC’s conditional approval for trust charter
The Japanese conglomerate aims to launch Connectia Trust, which will issue and manage stablecoins, in 2027. Banking trade groups and consumer advocates voiced their objection months ago.
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Axos to buy Arc Technologies
The deal marks Axos’ fourth purchase announcement in a year.
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Courtesy of Starling Bank
Starling to whittle headcount by 3%
The London challenger bank is cutting jobs to eliminate duplication and accelerate product delivery, a spokesperson said.
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Courtesy of Fiserv
Fiserv president exits
As Stripe alum Dhivya Suryadevara announced her resignation Tuesday, Fiserv elevated two executives.
