The Latest
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Senate confirms Warsh as next Fed chair
The mostly party-line vote comes amid concerns of whether Kevin Warsh will maintain central bank independence or hew closer to President Trump’s interest-rate demands than his predecessor.
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Fintech Parker files for bankruptcy
“Three weeks ago, I thought Parker was going to be acquired in a deal worth nearly $90M,” the fintech’s co-founder, Yacine Sibous, wrote Saturday. “Yesterday, we filed for Chapter 7.”
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EagleBank hires Western Alliance exec as its next CEO
The hire ends a six-month search that drew criticism from an activist investor pushing Eagle to reduce commercial real estate-related risk.
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Permission granted by Regions
Regions taps BofA vet to lead Texas growth push
“What really differentiates Regions is our people,” new Texas consumer executive Christina Clemmons said. “We have to capitalize on that.”
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CFPB alum Chopra to lead California consumer agency
Former CFPB head Rohit Chopra will lead a new state agency with oversight of the Department of Consumer Affairs and Department of Financial Protection and Innovation, among others.
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ColumnDive Deposits: Affirm’s AI stance runs counter to trend
While some fintechs are content to do more with less through AI, BNPL platform Affirm simply aims to do more, as its top execs eschew human layoffs in favor of artificial intelligence.
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Alamy
BMO to sell transportation, vendor finance businesses
The Toronto-based bank will take a 19.9% equity interest in the new entity as part of its deal with alternative investment firm Stonepeak.
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JPMorgan invests $14M in anti-fraud projects
Funds will support seven organizations intent on protecting consumers from expensive scams, the bank said Tuesday.
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White House taps Treasury assistant as NCUA’s next chair
John Crews, Treasury’s deputy assistant secretary for financial institutions policy, would replace Kyle Hauptman, the NCUA’s only board member.
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Alamy
U.S. Bank shifts critical apps to AWS for AI push
The Minneapolis-based lender joins a growing list of banks looking to upgrade foundational infrastructure to better support AI initiatives.
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Permission granted by Citizens
Citizens targets tweaks to boost CX
Marking his first year as the lender’s consumer-banking chief, Matt Boss aims to drill down on why customers should choose Citizens and the value they get from the relationship.
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Capital One flags debanking fight in quarterly filing
The bank “is responding to demands and requests” related to “fair access to banking,” it said. The Trump Organization has until July 2 to refile its claim that the bank politically debanked the president.
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Augustus receives conditional charter approval from OCC
The company, rebranded from its previous iteration Ivy, aims to revamp the clearing process to fit an artificial intelligence-native model.
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Courtesy of Kraken
Kraken parent seeks OCC charter
Payward said a national trust charter would complement its special-purpose depository institution, Kraken Financial, which recently became the first crypto firm to receive a Federal Reserve master account.
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Joe Raedle / Staff via Getty Images
‘New Citi’ makes its pitch
Bank executives sought to convey just how far Citi has come in recent years and how its growth plans will drive higher returns. Executing on the strategy could prove “challenging,” an analyst noted.
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Kevin Dietsch via Getty Images
Failed Oklahoma bank’s ex-CEO pleads guilty to bank fraud
Danny Seibel faces up to 30 years in prison and a fine of up to $1 million.
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Courtesy of Kraken
Kraken parent boosts card capabilities in $600M Reap acquisition
The deal, set to close in the second half of this year, opens Payward’s pathway to the Asia-Pacific region.
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How Chime overcame trust challenges when deploying its AI agent
Customer satisfaction rose after the fintech deployed Jade. “Automation and cost savings don’t need to come at the expense of a great experience,” COO Janelle Sallenave said.
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Caitlin Mullen/Banking Dive
U.S. Bank takes ‘quieter’ approach to branch expansion
The bank is prioritizing branch density and working to fix “unevenness” across its 26-state footprint. But it hasn’t committed to a specific number of branch builds.
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Chip Somodevilla / Staff via Getty Images
ColumnDive Deposits: Citi prepares for a small-t transition
After a massive reorg, a tech revamp and exits from a dozen foreign markets, an updated target for return on tangible common equity may feel “underwhelming.” But Citi may be embracing incremental change.
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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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Kevin Dietsch via Getty Images
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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Michael M. Santiago via Getty Images
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.
