The Latest

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    Boston’s Beacon names next CEO a year after merger

    Sean Gray served as chief operating officer at Beacon and as president and COO of predecessor Berkshire Bank. Beacon CEO Paul Perrault retired Monday.

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    OCC conditionally approves 3 national trust charters

    Bastion Platforms Trust Co., Agora National Trust Bank and Catena Trust Bank applied for charters in March, April and May, respectively.

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    New Orleans de novo aims to challenge bigger-bank dominance

    Nola Bank is Louisiana’s first new lender since 2010 and is pursuing minority depository institution status, executives said.

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    Dive Deposits: Barclays employees, union push back on RTO clampdown

    A workers union wants exemptions and/or a one-off payment for employees with long commutes and those who provide long-term care. The bank is requiring U.K.-based staff to come in three days a week.

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    3 takeaways from stress test changes and a new SVB review

    Fed Vice Chair for Supervision Michelle Bowman outlined three potential changes to stress-test calculations and an assessment of the central bank’s performance amid the 2023 collapse of Silicon Valley Bank.

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    FDIC’s Hill pushes faster merger review process

    One element of the proposal would allow some acquisitions to be processed in as few as five days. The agency also proposed a rule intended to reinforce parity between state-chartered and national banks.

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    Synapse victims look to small-claims court

    The Consumer Financial Protection Bureau has allocated more funds to repay fintech users harmed in the Synapse crisis. But there’s no timeline for when that money would be disbursed.

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    State regulators float AI framework for banks, examiners

    The Conference of State Bank Supervisors issued discretionary guidance that proposes eight questions examiners should consider and three tiers of risk banks face by using artificial intelligence.

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    PNC, Regions, Citizens execs eschew M&A ‘distraction’

    Executives at regional lenders cited AI priorities, systems conversions and strategic initiatives as reasons to avoid pursuing deals despite regulatory tailwinds.

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    Truist to exit near-prime auto lending, sell $5.5B in loans

    New CEO Mike Lyons has added “a lot of urgency and intensity” around a strategic review the bank is conducting, CFO Mike Maguire said Tuesday.

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    Crypto’s Clarity Act stumbles

    A hotly debated measure to regulate digital assets failed in the Senate amid conflict-of-interest concerns related to President Trump. Regulators now may have to forge the blueprint for the sector.

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    Enova scraps Grasshopper deal

    The Chicago-based fintech withdrew its applications from the OCC and Fed, and its CEO decried the absence of “clear standards” for bank licensing, in addition to “political pressure.”

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    Brazil’s Nubank launches in the US

    The debut, ahead of full OCC approval but through a partner bank, coincides with the rollout of a multicurrency digital account for cross-border transactions.

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    Alamy
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    Citizens Bank accuses SoFi of poaching 30 mortgage employees

    Six Connecticut-based Citizens employees resigned in a 49-minute span after their manager signaled his exit, the bank said. An additional talent migration in Texas shows a “pattern of racketeering,” Citizens said.

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    SMBC revs up recruiting in Charlotte

    To add 2,000 jobs over the next six years, the Japanese bank is visiting college campuses near the North Carolina city to build its talent pipeline and offering experienced workers the chance to put their stamp on something new.

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    Treasury slaps Russia’s VTB with more sanctions

    The restriction is meant to curb correspondent banking relationships Russia’s second-largest lender has with sanctioned Iranian banks. VTB has preexisting sanctions from 2022’s Ukraine invasion.

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    How Navy Federal harnesses AI to confront scam activity

    A top anti-fraud executive at the credit union says thwarting scams requires “totally different” tools than fraud, and AI is providing both new threats and novel solutions.

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    Fed, Bowman sued over capital-requirements process

    The advocacy group Better Markets alleged the central bank’s supervision chief met with bank CEOs to guide public comments in a way that would emphasize support for the proposals.

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    Banks keep cannabis at arm’s length over perceived risk: GAO

    Financial institutions cite an evolving regulatory landscape among reasons for their uncertainty in serving the space, according to a wide-ranging report.

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    Q&A

    Bank FOMO fueling AI spending, Accenture exec says

    Most banks have yet to see widespread, sustained value from AI initiatives, because they “have not figured out how to reconfigure the work, fully, around AI yet,” said Accenture’s Mike Abbott.

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    Chime outgrew bank partner model, CEO says

    “There's no question that we haven't been able to move as fast as we would like” with product launches, Chris Britt said Sept. 9. Acquiring Stride Bank will give the fintech “complete control of our destiny.”

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    HSBC CFO Pam Kaur to step down

    The first woman to serve as finance chief at Britain’s largest bank will leave before next year’s annual general meeting and will not stand for re-election to the lender’s board.

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    Mercury gets FDIC nod

    Mercury received conditional approval for deposit insurance, but “there’s still work between here and opening Mercury Bank’s virtual doors,” its founder said.

  • A crowd celebrates during Chime's initial public offering at the Nasdaq MarketSite.
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    Chime to buy Stride Bank for $590M

    Acquiring one of its longtime bank partners offers the fintech “a faster and more proven path to full-stack ownership,” compared to pursuing its own charter, Chime said Tuesday.

    Updated Sept. 9, 2026
  • Montgomery, Alabama, with the state Capitol and city buildings at dawn. A series of traffic lights are all red.
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    Alabama bank blasts investors’ request to join board

    Blue Hill Advisors and Merion Road Capital Management decried “inaction” from United Bancorporation of Alabama, concerning several suggestions the investors made. The bank called their requests “unreasonable.”