FDIC Floats AML Revamp, Stablecoin Guidelines
The FDIC, together with the OCC and NCUA, released a joint proposal to revamp AML/CFT regulations, shifting focus toward higher‑risk customers and granting FinCEN a formal consultative role in supervision. Simultaneously, the FDIC issued a proposed rule under the Genius Act that creates a comprehensive framework for payment‑stablecoin issuers, covering reserve assets, redemption rights, capital requirements and risk‑management standards. The rule clarifies that tokenized deposits remain insured deposits while reserves backing stablecoins are excluded from FDIC insurance. Comments on both proposals are due 60 days after publication.
Cash Management Platform Lorum Applies for National Trust Charter
Cash‑management platform Lorum, headquartered in Dubai, has filed for a national trust charter with the OCC, positioning itself as a “new‑age BNY” for other banks. The charter would enable Lorum to secure a Federal Reserve account, eliminating dependence on partner...
PNC Adds Rewards Program
PNC has launched TotalRewards, a tiered loyalty program that rewards retail customers for maintaining higher balances across deposit and investment accounts. Clients with a 90‑day average balance of $25,000, $100,000 or $500,000 qualify for silver, gold or platinum tiers, receiving...
Collections Is Your Most Important CX Channel
Banking leaders have long prioritized front‑end digital experiences, yet the collections stage often remains a low‑touch, compliance‑driven process. Recent advances in artificial intelligence allow banks to deliver personalized, real‑time outreach without sacrificing cost efficiency or regulatory control. Early adopters combine...
JPMorgan’s Dimon Bemoans Parts of Basel, G-SIB Proposals
JPMorgan CEO Jamie Dimon criticized the latest Basel III and G‑SIB capital proposals, calling parts of them "nonsensical" and arguing they would unfairly penalize the bank’s success. He noted the revised G‑SIB surcharge would fall to about 5%, still requiring JPMorgan...
FNB CEO Bets on Smaller-Bank Innovation
FNB Corp., a $50 billion‑asset regional lender, says smaller banks can out‑innovate the megabanks by deploying AI‑driven tools more nimbly. CEO Vincent Delie Jr. highlighted the bank’s eStore platform, which consolidates about 50 products into a single application, and its upcoming...
Former FTX Exec Faces $3.7M Disgorgement, Trading Ban
The Commodity Futures Trading Commission ordered former FTX head of engineering Nishad Singh to disgorge $3.7 million, the value of real‑estate bought with misappropriated customer funds. Singh also received a five‑year ban on trading and an eight‑year prohibition on registering with...
Concerns Mount over Core Provider Issues
Banks and trade groups are urging the Office of the Comptroller of the Currency (OCC) to strengthen oversight of core banking service providers, citing delayed system updates that jeopardize regulatory compliance. The three dominant vendors—Fiserv, Fidelity National Information Services, and...
Yotta Sues Evolve Again
Yotta Technologies has filed a new lawsuit in California state court accusing Evolve Bank & Trust of stealing roughly $80 million from its customers in a scheme the fintech describes as Ponzi‑like. The filing follows a May 2024 incident that left users...
Bank of Hope to Buy SMBC Commercial Unit
Bank of Hope announced an all‑cash acquisition of SMBC Manubank’s California commercial banking unit, adding eight Southern California branches, roughly $2.5 billion in commercial and CRE loans and $2.7 billion in deposits. The deal, slated to close in the second half of...
Trustmark Names Next COO, CFO
Trustmark announced that longtime finance chief Thomas Owens will become chief operating officer on May 1, while industry veteran Joseph Bond will take over as chief financial officer. Owens, a 13‑year Trustmark veteran, previously served as CFO since 2021, overseeing capital...
Analysts Press Bank CFOs on Revenue Resilience over Tech Investments
Analysts probing publicly‑traded banks in January asked CFOs about the durability of revenue growth, with 30% of questions focused on quality and resilience. Only 15% of the inquiries touched on artificial‑intelligence investments, while a quarter examined expense flexibility and operating...
BMO Eyes Top-5 Commercial Bank Status with California Push
BMO's U.S. commercial bank, led by Tony Sciarrino, is pursuing a move from a top‑10 to a top‑5 position by heavily investing in California. The bank plans to increase its branch network to 360 locations, boost its banker headcount to...
U.S. Bank Names Next COO
Toby Clements will assume the role of chief operations officer at U.S. Bank effective April 13, succeeding Souheil Badran, who is retiring after a three‑year tenure. Clements, a 2017 hire, has overseen operations in Europe, cards, merchant payments and client services,...
Morgan Stanley Gets Fed Green Light to Realign German Unit
The Federal Reserve voted 4‑3 to grant Morgan Stanley an exception allowing its German investment bank to be folded into its U.S. holding company, sidestepping Section 23A limits on foreign affiliate ownership. All three Democratic board members dissented, arguing the move...
FDIC Cuts Could Drain Institutional Knowledge: OIG
The FDIC’s Office of Inspector General warned that recent staffing cuts could erode institutional knowledge and impair crisis response. The agency trimmed its workforce by 20% last year, dropping from about 6,300 to 5,000 employees, and nearly one‑fifth of the...
Minnesota Bank Bolsters C-Suite with Climate First Alums
B2 Bank, a Minnesota community lender owned by fintech entrepreneur Brian Barnes, has appointed three former Climate First Bank executives—Ryan Jaskiewicz as CEO, Chris Cucci as president, and Chris Van Buskirk as chief credit and risk officer. The new C‑suite brings...
Goldman’s Second-in-Command Made More than Jamie Dimon in 2025
Goldman Sachs President John Waldron’s 2025 compensation rose 18.4% to $45 million, overtaking JPMorgan CEO Jamie Dimon’s $43 million pay and making him the second‑highest‑paid executive among U.S. big‑bank leaders, behind only CEO David Solomon. The increase includes a one‑time $80 million retention...
Choosing the Right Financial Products Starts with Behavior, Not Volume
Financial institutions are shifting from adding more products to aligning offerings with customer behavior. Research by FIS shows 47% of consumers want a single platform to manage all financial services, indicating demand for cohesion over variety. Studies of Gen Z and...
FDIC Opens Door for Private Equity to Buy Failed Banks
The FDIC has rescinded its 2009 rule that barred private‑equity firms and other non‑bank entities from bidding on failed banks. The change, prompted by the rapid failures of Silicon Valley Bank, Signature Bank and First Republic in 2023, is intended...
Michigan Banks Independent, Highpoint to Combine in $70.2M Deal
Independent Bank Corp. announced a $70.2 million acquisition of HCB Financial Corp. and its subsidiary Highpoint Community Bank, adding seven branches and $590 million in assets. The transaction pushes Independent’s total assets past $6 billion and is expected to be roughly 6% earnings‑per‑share...
Banks Leave Nonprofit Lending Market Untapped, Fintech CEO Says
The U.S. nonprofit sector controls nearly $14 trillion in assets and generates about $4 trillion in annual revenue, yet only 3 % of banks lend to these organizations. Fintech startup B Generous has created a marketplace that has processed 34,000 loan requests totaling $1.2 billion...
BMO to Add 145 Branches in California, Arizona
BMO Financial Group announced plans to open 145 new U.S. branches—130 in California and 15 in Arizona—over the next five years, with seven California locations slated for this year. The expansion follows the Bank of the West acquisition and aims...
13 AGs Sue OneMain over Add-On Sales Policy
Thirteen state attorneys general have filed a lawsuit against OneMain Financial, alleging the lender misled subprime borrowers into purchasing costly add‑on products such as credit insurance. The complaint says employees pressured borrowers, financed premiums into loans, and sometimes charged add‑ons...
MoCaFi Files for Bankruptcy
MoCaFi, a fintech focused on the unbanked and underbanked, filed for Chapter 7 bankruptcy and entered liquidation after losing a central revenue program. The loss stemmed from a failed partnership with BNY on the Treasury Department’s Direct Express benefits platform, which the...
Fintechs Push 36% State Rate Caps
Fintech firms are urging state legislatures to adopt a uniform 36% interest‑rate cap on consumer loans, echoing the long‑standing ceiling used by traditional credit‑card issuers. The American Fintech Council, representing buy‑now‑pay‑later and earned‑wage‑access companies, is actively lobbying in states such...
Blue Ridge Bank CEO Retires
Blue Ridge Bank announced the retirement of CEO Billy Beale effective March 6, 2026. Credit chief Harry Golliday will serve as interim CEO and president of the holding company. Beale, who returned in 2023 to address regulatory challenges, led the bank through...
Regions Accelerates Plan to Build 150 New Branches
Regions Financial is accelerating its branch rollout, targeting 135‑150 new locations in Florida, Georgia and Tennessee over the next five years, down from a seven‑year horizon. The bank will close a comparable number of under‑performing sites, leaving its overall branch...
Bank Regulators Warn of Increased Cyber Risk From Iran War
Regulators in California and New York have issued urgent cyber‑risk bulletins as the Iran‑Israel war heightens threats to the financial sector. The DFPI and NYDFS urge banks to strengthen defenses, review incident‑response plans, and monitor supply‑chain traffic. Major institutions such as...
NY’s Esquire Bank Makes $348.4M Chicago Push
Esquire Financial Holdings announced a $348.4 million acquisition of Signature Bancorporation, creating a roughly $4.8 billion‑asset bank. The deal gives Esquire a foothold in Chicago’s commercial‑banking and real‑estate markets while expanding its national platform. Management projects the transaction will be about 11 %...
Wisconsin Credit Union to Buy Local Bank
Milwaukee‑based Landmark Credit Union announced it will acquire American National Bank‑Fox Cities, adding $419 million in assets and two branches to its $7 billion portfolio. The transaction, the fifth credit‑union‑bank deal this year and the third full‑bank purchase, is slated to close...
Too Friendly to Rob, and Other Tales From a 200-Year-Old Bank
Millbury National Bank, a 201‑year‑old, $140 million‑asset community bank in Massachusetts, uses personal greetings – often by name – as a security tool that once thwarted a robbery. The bank is more than half owned by women, earning a minority depository...
DOJ, Halkbank Agree to End Iran Sanctions Case
The U.S. Justice Department and state‑owned Halkbank have reached a deferred prosecution agreement, ending a five‑year case alleging the bank helped Iran evade sanctions. Under the deal, Halkbank must stop any Iran‑benefiting transactions and submit to an independent compliance monitor....
Wells Fargo Chases Lead Bank Role for Middle-Market Clients
Wells Fargo is positioning itself as the lead bank for middle‑market companies, targeting firms with $10 million to $1 billion in annual revenue. The bank is revamping its product suite and coverage model while hiring 185 commercial bankers to deepen relationships early and...
How the OCC Is Handling Its Charter Application Workload
Bank charter applications surged in 2025, with 18 new OCC filings—equal to the total received in the previous four years combined. OCC chief Jonathan Gould frames the spike as a return to normal, emphasizing that new bank formation signals system...
Why Banks Are Struggling to Deliver ROI on AI Investments
Major banks have invested billions in generative AI, yet a MIT study shows 95% see no measurable return. Isolated task‑level gains have not translated into enterprise‑wide efficiency, leaving boards and CFOs uneasy. The root causes are the sequencing problem—guessing which...
Democratic Senators Press Bowman on Fed Changes
Democratic senators sent two letters to Fed Vice Chair Michelle Bowman questioning recent supervisory changes, including a 30% staff cut in the Fed's supervision arm and the removal of bank examiners at banks' request. They also demanded answers on her...
TD Aims to Retain Its Branch ‘Essence’ Amid Brand Refresh
TD Bank U.S. is launching a "More Human" brand refresh while pledging to keep its traditional branch‑centric ethos. New head of consumer deposit and payment products Marc Womack says the focus is on retaining customers amid fierce deposit competition and...
Remitly Hires Santander Alum as Its Next CEO
Remitly announced Sebastian Gunningham, a former Santander Consumer Finance chair with executive experience at Amazon, Apple and Oracle, will become its chief executive on Thursday. Co‑founder Matt Oppenheimer will transition to board chair as the company reported a strong 2025...
Warren Targets Dimon for Help on Interest Rate Caps
Senator Elizabeth Warren wrote to JPMorgan Chase CEO Jamie Dimon urging his public support for the Empowering States’ Rights to Protect Consumers Act, which would let states re‑impose credit‑card interest‑rate caps on national banks. The legislation seeks to restore the...
OCC Conditionally Approves Stripe Subsidiary Bridge for Trust Charter
Stripe’s subsidiary Bridge received conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter. The license would allow Bridge to issue stablecoins, custody digital assets, and manage reserves under OCC oversight. The decision...
The New Forces Shaping for Financial Trust
Banks must protect trust while delivering real‑time digital services, prompting CIOs to balance speed, innovation, and regulatory risk. Tata Communications identified four forces—Simplification, Network as a strategic asset, AI readiness, and Precedent‑free leadership (SNAP)—that now shape technology agendas in financial...
Texas Capital CEO Touts Transformation Amid M&A Chatter
Texas Capital Bank, a $31.5 billion‑asset lender, completed a multi‑year transformation that boosted profitability and expanded its product suite. Net income swung from a $65.6 million loss to a $100.9 million gain in Q3 year‑over‑year, and revenue reached $1.26 billion in 2025. CEO Rob...
Capital One Pays CEO Fairbank $40M for 2025
Capital One's board approved a $40 million compensation package for CEO Richard Fairbank for 2025, a 19 % increase from his 2024 pay. The package consists of $2.5 million in restricted stock units and a $37.5 million year‑end incentive award, including $24.8 million in performance...
Dive Deposits: CFPB Tamps Down on Complaint Portal
The Consumer Financial Protection Bureau (CFPB) announced new landing‑page language that forces consumers to dispute credit‑report errors directly with Experian, Equifax or TransUnion before filing a complaint. Credit‑reporting issues now make up more than 88% of the agency’s portal submissions,...
Washington State Credit Unions Buying Banks Face New Tax
Washington has imposed a 1.2% business and occupation tax on gross income from credit‑union acquisitions of banks, effective for deals submitted after Jan. 1, 2026. The levy applies only to Washington‑chartered credit unions, exempting out‑of‑state entities and pre‑2026 filings. The move follows...
Huntington Hires BNY Alum as Next Risk Chief
Huntington Bancshares announced that former BNY Mellon chief risk officer Senthil Kumar will assume the role of chief risk officer on February 16, as the lender transitions to a Category III bank after its $279 billion Cadence acquisition. The move follows the...
Payoneer CFO Eyes Stablecoin, AI Innovation Amid ‘Stop-Start’ Economy
Payoneer CFO Bea Ordonez says the company is navigating a volatile, stop‑start global trade environment by doubling down on its highly local, globally‑scaled network. The fintech firm, which operates across 7,000 trade routes and holds eight regulatory licenses, is investing...
Santander to Buy Webster for $12.3B
Spanish banking giant Banco Santander announced a $12.3 billion cash‑and‑stock acquisition of Connecticut‑based Webster Financial Corporation, which holds $84 billion in assets. The deal will make Webster a wholly‑owned subsidiary and integrate its operations into Santander Bank, N.A., with Webster’s CEO John Ciulla...
U.S. Bank COO to Retire This Spring
U.S. Bank announced that its chief operations officer, Souheil Badran, will retire this spring after three years in the role. The bank has not yet identified a successor and says it will rely on its robust succession‑planning program, with Badran...