FirstSun looks to alter HomeStreet deal again

The firms are “discussing the pursuit of an alternative regulatory structure” after FirstSun said talks with the Fed and a Texas agency indicated the deal may not get a green light.

AI increases fraud risk, fintechs say

Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.

Singh, fourth FTX exec sentenced, avoids prison

Former FTX engineering chief Nishad Singh showed an “eagerness to assist” the prosecution during its case against Sam Bankman-Fried, and a similar energy to help CEO John Ray in FTX's bankruptcy case.

BofA discloses Zelle probe, says it may result in litigation

The bank also said it’s in contact with regulators over its Bank Secrecy Act/anti-money laundering and sanctions compliance programs, and a regulatory order could stem from those discussions.

5 lessons learned from Synapse’s collapse

Ledgering issues, bank partner and regulatory lapses and gross mismanagement led to a shortfall of up to $95 million between bank-held funds and amounts owed to fintech end users, a law firm found.

New Jersey AG accuses Republic First of redlining

The failed lender originated 6% of its home loans to residents of majority-nonwhite neighborhoods between 2018 and 2022, the state found. The state filed a claim with the FDIC seeking remediation.

Treasury floats financial inclusion strategy

The department’s strategy “provides a national roadmap to expand access to foundational financial tools like credit and investments that are key to building wealth,” Treasury Secretary Janet Yellen said Tuesday.

Morgan Stanley adjusts climate targets with Paris goal slipping

The bank’s 2030 targets now include a net-zero scenario that would limit additional temperature rise to 1.7°C, as aspirations for limiting global warming to 1.5°C fade.

Consensys to slash 20% of workforce

The blockchain software firm best known for its self-custodial MetaMask wallet cited regulatory uncertainty and a push toward “rigorous decentralization.”

JPMorgan Chase sues customers who exploited viral ‘glitch’

With four nearly identical lawsuits, the nation’s largest bank wants users to return hundreds of thousands of dollars taken in a scheme promoted on TikTok.

Dimon swipes at regulators, large retailers: ‘Time to fight back’

The JPMorgan CEO slammed recent rules, including Basel and open banking, saying the industry is right to challenge regulators. “If you’re in a knife fight, you better damn well bring a knife,” he said.

How open banking will shape the future of payments

The Consumer Financial Protection Bureau released its open banking final rule last week, leading the payments and financial services industries to begin preparing for a new era in data sharing.

HSBC insists it’s not gearing up to split

The bank saw profits jump 10% in the third quarter and announced a $3 billion share buyback. But analysts pressed CEO Georges Elhedery on the long-term effects of a recent reorganization.

FDIC hits 3 banks within embattled Texas parent firm

The regulator hit three subsidiary banks of Industry Bancshares with consent orders to improve their capital positions and take a hard look at staff qualifications.

NC bank to buy fintech BM Technologies in $67M deal

First Carolina Bank's acquisition of the Pennsylvania-based digital banking platform is expected to close in the first quarter of 2025.

Chopra defends CFPB open banking rule in face of lawsuit

Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d read it.

Where UniCredit-Commerzbank is now, from 4 angles

The Italian lender may not have said much in the month after upping its stake in the German bank, but other European — and American — banks have lots of opinions.

Fed cites Washington state bank embroiled in Ponzi scheme allegations

UniBank and its parent company have been named in lawsuits alleging the bank facilitated loans that were used to repay earlier investors of water and oil-and-gas firms.

NYCB postpones profitability goal to 2026

The embattled bank recorded a $280 million loss for the third quarter and said it expected to post a loss for 2025, while whittling its profit forecast to 75 cents to 80 cents per share rather than $1.25.

Dive Deposits: Morgan Stanley’s chair emeritus role represents peak perk

The bank named CEO Ted Pick its next board chair. But Pick’s predecessor, James Gorman, will receive $400,000 next year, retain access to a car and driver, and maintain certain controls over expenses — while also leading Disney’s board.

TD faces investor lawsuit over AML failures

The lawsuit alleges bank executives minimized the AML issues and made no indication of the severity of the punishment TD faced.

NY AG adds to scrutiny of Capital One-Discover deal

New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could see impact.

Tennessee credit union crosses state line in bank purchase

Y-12 Federal Credit Union will expand into Kentucky by acquiring First State Bank of the Southeast — the 19th whole bank-credit union deal announced this year.

Intesa Sanpaolo to cut 9,000 jobs in AI-fueled push

Italy’s largest bank aims to hire 3,500 “young people,” many in hybrid contractor roles, in a “generational” shift to artificial intelligence, along with greater emphasis on wealth and insurance.

Industry balks at FDX standard-setting monopoly

Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.