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Florida credit union sues Fiserv, alleging lax cybersecurity
FiCare Federal Credit Union said hackers breached an online banking platform that Fiserv provides and stole members’ money. The credit union alleges Fiserv then told customers it would charge them for a security upgrade.
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Flagstar returns to profitability
Two years after commercial real estate loans sent the bank into a spiral, the Long Island-based lender is “pivoting to the growth side of the story,” its CFO said Friday.
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What’s coming for the banking industry in 2026
2025 brought a surge of M&A. Expect more this year. De novo applications, too, spiked last year. That should continue. If regulation was stripped down in 2025, expect a buildup – with a different look.
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Trump nominates Kevin Warsh as next Fed chair
The former Federal Reserve governor was a candidate to lead the central bank in 2017, but the president chose Jerome Powell.
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BNY dismissed from Epstein case, but BofA must face some claims
A judge rejected allegations that Bank of America failed to uphold anti-money laundering and know-your-customer standards. The lender, however, will face a claim that it obstructed the enforcement of trafficking laws.
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Wells Fargo to pay CEO Scharf $40M for 2025
The bank credited Charlie Scharf for the resolution of seven consent orders last year, including a $1.95 trillion asset cap imposed by the Federal Reserve.
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Photo by Bia Santana from Pexels.
Nubank gets conditional OCC approval for charter
The Brazilian digital challenger “will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months” as it awaits green lights from the Fed and FDIC.
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Charles Schwab banking unit CEO to retire
Tyler Woulfe, managing director of banking and trust services, will replace bank CEO Paul Woolway, who will retire July 1. Schwab's CIO and top wealth executive will also see added responsibility.
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Permission granted by UMB
UMB CEO takes ‘measured’ tone on M&A
After integrating HTLF, UMB has learned that “between close and conversion, expectations should be more muted for growth out of the acquired company,” CEO Mariner Kemper said Wednesday.
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Alamy
U.S. Bank CEO Kedia named chair
With the move, effective in April, the Minneapolis-based lender joins all eight of the U.S.’s G-SIBs in consolidating CEO and chair roles. Gunjan Kedia’s predecessor, Andy Cecere, is retiring from the board.
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Wells Fargo launches internal proxy voting service
The bank’s investment management arm becomes the second major asset manager to ditch third-party proxy advisory firms for a proprietary service.
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Prosperity Bank continues its Texas tear
The Houston-based lender agreed to buy Stellar Bank in a roughly $2 billion deal expected to close in the second quarter. The transaction would be Prosperity’s third announced acquisition since July.
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Judge rejects HoldCo’s challenge of Comerica-Fifth Third deal
After the activist investor filed an emergency motion to stall the merger’s closing, set for Feb. 1, a Delaware Court of Chancery judge denied it, saying Monday that HoldCo failed “to clear that high hurdle.”
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Retrieved from OCC.
Nomura spinoff Laser Digital applies for OCC charter
The digital-asset firm is vying for a national trust banking charter, the same license for which Circle, Ripple and Paxos were conditionally approved.
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Wells Fargo, BNP Paribas bolster AI leadership
As banks chase AI innovations and efficiencies, they’re hiring executives focused solely on the technology’s growth.
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Zelle network expands by 15%
Most of the 337 financial institutions that were added to the network last year were small community banks and credit unions.
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Former Citi exec sues bank, alleging sexual harassment
Citi’s former global head of platform and experiences said she was subject to a campaign of sexual harassment, manipulation and grooming involving the bank’s wealth chief.
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U.S. Bank CEO, other Minnesota execs seek ‘de-escalation’
Gunjan Kedia and other CEOs of large Minnesota-based companies urged local and federal officials to collaborate on “real solutions” in the wake of a second shooting death by federal immigration agents in Minneapolis.
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Courtesy of The Office of the Comptroller of the Currency
Ally taps former acting OCC chief as policy adviser
Rodney Hood, who has served as acting comptroller of the currency and chair of the National Credit Union Administration, will serve as a senior policy adviser to Ally CEO Michael Rhodes.
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Permission granted by Erica Dorfman
Brex CFO Erica Dorfman’s take on the Capital One deal
In a rare look inside a major fintech transaction, Dorfman describes the speed, scale and boardroom logic that led Brex to Capital One.
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Permission granted by Eastern Bank
Eastern Bank eschews M&A in face of investor complaint
Activist investor HoldCo Asset Management urged the bank to sell to a larger regional, such as M&T. Executives Friday said Eastern, after completing a deal last October, had attained “the size and scale to compete effectively.”
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Goldman to pay CEO Solomon $47M for 2025
The payout marks David Solomon’s third consecutive annual raise of 20% or more and likely will make him the best-compensated chief executive among the six biggest U.S. banks.
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SEC agrees to dismiss Gemini lawsuit
The lawsuit, regarding Gemini Earn, is appropriate to dismiss because its investors have already received 100% of their money back, the SEC said.
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Caitlin Mullen/Banking Dive
Huntington doesn’t ‘need to be national to win,’ CFO says
Concentration on specific segments and geographies is “the predominant factor in success,” said the Ohio-based regional’s CFO, Zach Wasserman. “That's where we're doubling down.”
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FDIC conditionally approves Ford, GM ILC charters
Both automakers must stand up their respective banks within 12 months. After that, they must maintain a minimum 15% tier 1 leverage ratio.
