Edward Jones resubmits ILC charter application

The investment firm originally sought a charter in 2020, but abandoned its efforts in 2022. It still plans to move forward with its retail banking partnership with U.S. Bank this year.

NY AG sues MoneyLion, DailyPay

The state’s lawsuits seek to wind down the companies' earned wage access practices in New York.

CFPB drops case against Comerica

The bureau dismissed the case without prejudice – meaning it could refile the lawsuit – setting it apart from other recent dismissals by the Russ Vought-led CFPB.

Appeals court allows some CFPB firings

The bureau can terminate employees who are determined, after an individualized assessment, to be unnecessary to the agency’s statutory duties, a three-judge panel ruled.

TD acknowledges ‘darkest day’ in shareholder meeting

The bank’s chair called October’s $3.09 billion settlement “extraordinarily painful.” Investors voted in four new board members Thursday, including Morgan Stanley’s former deputy CFO.

Ally’s DEI suit dismissed after bank reduces emphasis

America First Legal dropped its lawsuit against Ally Financial after the lender largely scrubbed diversity references from its public filings.

Tariffs may prompt clients to revisit supply chain financing: Wells exec

Flexible financing “will be essential to businesses” if higher-than-expected tariffs take effect, said Jeremy Jansen, Wells Fargo's managing director of supply chain finance.

Dimon points to ‘turbulence,’ sees uncertainty persisting through July

The trade war poses certain risks to JPMorgan Chase, given its global reach. “Add that to the list of worries – we will be in the crosshairs,” CEO Jamie Dimon said Friday.

Ex-Frost employee sues bank, alleging retaliation, conspiracy

Chad Jones, a former investment adviser at the bank, accused two former colleagues of “act[ing] in concert to create a false narrative and shield gross incompetence from internal scrutiny.”

House votes to overturn CFPB overdraft rule

The rule that would cap overdraft fees at $5 now goes to President Donald Trump, who has indicated he will sign a measure to nullify the CFPB cap.

Warren presses Fed’s Bowman on tariff stance

The senator grew exasperated when the nominee for vice chair for supervision suggested a wait-and-see approach on Trump policy.

How Bank of America scaled AI

Innovation sessions, governance oversight and a clear focus on solving practical problems helped shape internal and customer-facing use cases.

Lawmakers push House bill on reputational risk

Reps. Andy Barr, R-KY, and Ritchie Torres, D-NY, introduced companion legislation of the Senate’s FIRM Act to remove reputational risk as a component in bank supervision.

Evolve, Lineage Bank face lawsuit over missing funds

The two lenders, former partner banks of fintech Synapse, were hit with a proposed class action Friday over mismanagement of funds allegedly held at the banks. 

Treasury eyes bigger regulatory role, Bessent says

The treasury secretary said he wants regulatory tailoring to ensure smaller community banks matter on a wider scale.

Fifth Third hires ex-M&T CFO to lead regional banking

Darren King will “drive strategy, cultivate talent and pursue growth” as Fifth Third pushes southeast, the bank said. He succeeds Kris Garrett, the lender’s retiring wealth and asset manager.

The smaller the CFPB, ‘the better,’ Senate banking chair says

Sen. Tim Scott, R-SC, estimated a timeline for a vote on the nominee to lead the CFPB and detailed how his working relationship with Sen. Elizabeth Warren differs from that with previous Democratic leadership.

OCC discloses major hack

Attackers gained unauthorized, prolonged access to the banking regulator’s email system and may have seen numerous messages containing highly sensitive data.

‘Fallen off a cliff’: 3 ways Travis Hill wants to boost de novos

Lower upfront capital for “noncomplex” community banks, a revamped application process for fintechs and an open mind toward ILCs are some of the suggestions the FDIC’s acting chief floated Tuesday.

DOJ scales back crypto enforcement

The Justice Department will stop prosecuting “unwitting” regulatory violations and focus its efforts on going after those who victimize crypto investors or use crypto to support illicit activities.

PNC picks BlackRock vet as next president

Mark Wiedman, most recently the head of BlackRock’s global client business, was named the super-regional’s next president, filling the vacancy left when Michael Lyons departed to lead Fiserv earlier this year.

Webster Bank risk chief to retire

Daniel Bley will leave his role after the Connecticut-based bank finds his replacement, the lender said last week. 

Ripple to buy prime broker Hidden Road for $1.25B

“We are at an inflection point for the next phase of digital asset adoption … and the market is maturing to address the needs of traditional finance,” CEO Brad Garlinghouse said.

Do growing fintechs need more federal regulation?

State regulators say they’re updating their rules and are best-suited to oversee licensed money transmitters — and a new U.S. payments charter isn’t needed. 

Dimon frets over tariff uncertainty in annual letter

The CEO of the biggest U.S. bank said he sees President Donald Trump’s tariff policy as "one large additional straw on the camel’s back."