The Latest
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Banking’s biggest names are talking about Mythos
The Federal Reserve is considering effective supervisory approaches for Anthropic’s emerging AI model. JPMorgan Chase CEO Jamie Dimon said he thinks people need a chance to assess and mitigate its risks.
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Fed to launch roundtable to fight payment fraud
The Federal Reserve sees a rising threat of payment fraud and wants to collaborate with other agencies to stop it, a Fed vice chair said.
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Anthropic deepens push into financial services
The AI provider is developing industry-specific tools for finance and partnering with investors to gain an edge in middle-market enterprise tech adoption.
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Alamy
M&T takes ‘patient’ approach to M&A, CFO says
The Buffalo, New York-based regional has “a specific number of candidates that we're talking to” but an acquisition “will happen when it happens,” M&T CFO Daryl Bible said Tuesday.
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Banks, crypto firms battle over stablecoin yield
A compromise from two senators is reigniting debate over how far a ban on rewards for stablecoin holdings should extend.
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Hacktivist group stole Chime customer information, lawsuits allege
Three separate lawsuits allege that a hacker group known as Team 313 stole personal information from Chime customers when it attacked the fintech’s systems April 1.
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Cambridge Savings Bank expands into NH in $80.9M deal
Buying First Seacoast Bank will add five branches to the $7 billion-asset Massachusetts lender, and give Cambridge nearly $600 million in extra assets.
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Michael M. Santiago / Staff via Getty Images
JPMorgan vet wants to bolster ‘trusted adviser’ mindset
Ed Pyne, named head of syndicated finance for JPMorgan commercial banking in March, said he wants to “connect the dots” for clients – beyond the product being discussed.
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Coinbase axes 700 employees
The cryptocurrency exchange joins a growing list of companies swapping out their workers for AI, following Block, Crypto.com and Bolt in making job cuts this year.
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Crypto exchange Bullish makes a $4.2B deal
In buying Equiniti, Bullish gets a blockchain-native transfer agent that could allow investors to engage in 24/7 transactions, instant settlement and frictionless asset movement.
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Trump-backed crypto firm countersues billionaire Sun over ‘smear campaign’
World Liberty Financial accused Justin Sun of attempting to “tank” the price of the $WLFI token. Sun last month alleged World Liberty froze his assets when he refused to invest in a second token.
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Citizens Bank customers pull money over lender’s ICE ties
Nonprofit organizations and individual customers are pushing back against Citizens' relationships to two ICE detention center operators.
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Florida bank acquires failed Georgia lender’s deposits
Community Bank & Trust - West Georgia, which received a Federal Reserve enforcement action last month, was closed by state regulators Friday, marking the second bank failure of the year.
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Florida’s BayFirst makes a switch at CEO
The bank named Tampa banking veteran Al Rogers as its top executive amid an $80 million capital raise and a reinforced commitment to community banking.
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Citi launches Arc to scale AI agents across the business
The bank is looking to the technology to automate manual tasks such as research and data analysis.
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Washington bank Banner to buy Pacific Financial for $177M
The deal, expected to close in the third quarter, will result in a combined entity with $18 billion in assets.
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Permission granted by Citi
Citi adds AI-powered adviser in wealth unit
Discussions are underway to use the agentic AI tool more broadly across the bank, “especially with the credit card business,” said Joe Bonanno, head of wealth intelligence at Citi.
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Anna Moneymaker / Staff via Getty Images
CFPB slims small-business borrower data collection rule
The rule, set to take effect in 2028, narrows back to 13 the number of data points collected and raises the lending threshold to a level that spares most small financial institutions.
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Indiana credit union to buy Ohio bank
Interra Credit Union’s purchase of The Hicksville Bank – the fourth whole-bank acquisition by a credit union announced this year – would expand the credit union’s footprint into northeast Indiana and northwest Ohio.
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Lazard to buy private markets adviser Campbell Lutyens for $575M
An additional consideration of up to $85 million will be determined by defined performance criteria over multiple years, Lazard said.
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Fintech OppFi to buy Arizona bank for $130M
The Chicago-based subprime lender said pairing its online platform with BNC’s national bank charter lets it offer more banking services on a broader scale.
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‘We are a new banking desert’: Oregon bank group CEO
A tax credit, set to take effect in June, aims to stimulate de novo activity in the state, which hasn’t chartered a new bank since 2007.
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Citi taps former Google exec as CIO
Brian Saluzzo began his tenure with Citi in March, joining as the bank rolls out AI and nears completion of a business transformation initiative.
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Spencer Platt via Getty Images
Ex-M&T employee alleges discrimination over gender, sexual orientation
An ex-vice president and commercial branch manager based in Long Island alleges she was “treated as a secondclass citizen” by her boss for being a gay woman.
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Heather Diehl via Getty Images
Warsh’s Fed chair nomination moves to full Senate
The Senate Banking Committee, including once-holdout Sen. Thom Tillis, voted along party lines to keep alive ex-Federal Reserve Gov. Kevin Warsh’s bid to succeed Jerome Powell atop the central bank.
