Custodia cuts 25% of its staff amid Fed lawsuit: report

The digital asset-focused bank, chartered in Wyoming, is putting its resources toward an ongoing lawsuit with the Federal Reserve, which denied the lender a master account last year.

HSBC wealth chief, COO exit as new CEO takes reins

Nuno Matos, CEO of wealth and personal banking, had been previously considered to succeed Noel Quinn as CEO. HSBC COO John Hinshaw and HR head Elaine Arden are also leaving the bank.

U.S. Bank works to simplify SMB banking, payments

To stand out from competitors, the Minneapolis-based lender has also expanded its SBA loan program over the last year, said Shruti Patel, chief product officer for business banking.

Texas credit union discovers year-old data breach

TDECU fell victim to last year’s MoveIt data breach, but only found out in July. The credit union said the incident is not expected to impact its acquisition of a Louisiana bank.

Goldman catches a break on capital requirements

The Fed reduced Goldman’s stress capital buffer to 6.2% after the bank argued that losses from its sale of GreenSky don’t belong in projections for the future.

Truist’s premier banking head exits

Allison Robinson, a two-decade veteran of the bank, has served as head of branch and premier banking since last November.

Sustainability advocates sue Texas over anti-ESG law

The American Sustainable Business Council alleged that the state's 2021 law violates its members' rights to speech and free association, as well as due process, and are seeking an injunction.

Fed’s Waller questions faster cross-border payments ties

There could be more fraud and money laundering if countries move too quickly to link their faster payments systems, the central bank governor said Wednesday at a conference.

Unit launches business continuity tool for bank partners of fintechs that fail

If a fintech powered by one of Unit’s partner banks fails, the bank can immediately connect to end users, with no service disruption, CEO Itai Damti said.

First Merchants exits Illinois retail banking with Old Second deal

Muncie, Indiana-based First Merchants is selling five Chicago-area branches to Aurora, Illinois-based Old Second, but will maintain a loan production office in the Windy City.

Greenlight CEO talks partnerships, forthcoming features

Going beyond its banking scope, the fintech that caters to parents and kids sees safety as an area of continued opportunity, said CEO and co-founder Tim Sheehan.

NYDFS fines Nordea $35M over AML failures

New York’s regulator cited high-risk transactions through Baltic and Danish branches tied to the Panama Papers leaks and illicit operations involving Russia and Azerbaijan.

Busey, CrossFirst to merge in $916.8M deal

The transaction, set to close in the first half of 2025, will give Busey access to six new states and lucrative markets such as Denver, Dallas and Phoenix.

Five Star Bank expands, eyeing First Republic, Signature customers

The $3.7 billion-asset commercial bank seeks to capitalize on the absence of failed San Francisco-area banks by snagging some of their former employees and emphasizing customer service.

Judge rejects challenge to CFPB small-biz data collection rule

Trade groups argued the CFPB didn’t consider costs or bank comments regarding the rule. The rule may be ill-advised, the judge said, but that doesn’t make it unlawful.

BNY fined $5M over swap reporting, violating prior CFTC order

The bank “repeatedly failed to correctly report at least five million swap transactions and failed to properly supervise its swap dealer business,” the CFTC said Monday.

BlackRock hit with cease-and-desist by Indiana secretary of state

The Hoosier State alleged 54 counts of securities violations in what BlackRock called “a politically motivated attack.”

RBC countersues ex-treasury exec tied to CFO firing

Ken Mason said his promotion to vice president was “merit-based” and that he and then-CFO Nadine Ahn were “work friends.” Mason’s pay jumped 70% between when Ahn became CFO and the end of fiscal 2023, the bank said.

Citi fired whistleblower for underperformance, bank says

“Citi was compelled to replace [Kathleen Martin] as Data Transformation Chair — the role ... was too important for Citi to tolerate [her] underperformance,” the bank said Thursday.

Zions vet looks to optimize TAB’s ‘sweet spot’ as new CIO

“Technology can be as critical an enabler as you want it to be,” said Tami Fisher, who spent 18 years at the Salt Lake City regional before jumping to TAB in July.

Morgan Stanley int’l chair confirmed dead after yacht sinks

The bodies of six people, including Jonathan Bloomer and his wife and British tech billionaire Mike Lynch and his 18-year-old daughter, were recovered from the wreckage off Sicily.

TD sets aside another $2.6B for expected AML penalties

The bank “expects a global resolution” by the end of 2024, CEO Bharat Masrani said Thursday. “While we are not through the tunnel yet, we can see the light,” he said.

Morgan Stanley’s Gorman to lead Disney CEO search

The outgoing executive chairman and former CEO was picked for his “deep succession planning experience and long-term strategic mentality.”

Trade groups seek extension on FDIC’s ‘hot money’ rule

Organizations need 60 more days “to furnish responses and data that fulsomely address the questions and issues raised” by proposed changes on brokered deposits, 11 trade groups wrote.

U.S. Bank buys healthcare payments firm

The bank’s acquisition of Tempe, Arizona-based Salucro Healthcare Solutions allows its Elavon unit to dig deeper into healthcare payments and billing services.