The Latest

  • The state Capitol building in Springfield, Illinois
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    Illinois’ HBT to buy in-state Tri-County Financial for $204.6M

    The deal, set to close in the first quarter of 2027, would boost HBT’s footprint to more than 100 branches and its assets past $8 billion.

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    skynesher via Getty Images
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    Sponsored by Aon

    Allocating digital asset exposure

    Understanding how exposure is allocated and how it interacts with coverage determines resilience.

  • U.S. Bank
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    U.S. Bank flags potential blowback from debanking inquiries

    At least three other lenders have warned investors of consequences over the past year, but unlike U.S. Bank, those institutions have either been sued or called out publicly by President Trump.

  • Bunq CEO Ali Niknam stands in front of Bunq's logo.
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    Courtesy of https://press.bunq.com/media_kits/228411/
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    Bunq rejected for OCC bank charter

    The Office of the Comptroller of the Currency argued the Dutch fintech’s U.S. operations would be inadequately capitalized, its management inexperienced and its road to profit “unrealistic.”

  • Elizabeth Warren gestures with her right hand while speaking during a hearing.
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    Kevin Dietsch / Staff via Getty Images
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    Warren wants United Texas Bank’s charter revoked

    The senator said the OCC and Federal Reserve should not have let the bank convert its charter from state to national oversight while under an active consent order.

  • Department of Treasury
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    Solo develops reusable customer-vetting tool for banks, fintechs

    The company demonstrated a data sharing model, in coordination with regulators, that could eliminate duplication in the know-your-customer process.

  • A glass and stone building is shown at night, with green lighting illuminating the exterior and "Northwest Bank" signage and logo seen on the front of the building.
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    Permission granted by Northwest Bank
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    Northwest Bank overhauls C-suite to drive transformation

    Over the past three years, CEO Louis Torchio has hired executives with bigger-bank experience to lead Northwest’s commercial pivot and M&A ramp-up.

  • A crowd celebrates during Chime's initial public offering at the Nasdaq MarketSite.
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    Andres Kudacki via Getty Images
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    Chime’s CFO is stepping down

    The fintech’s president, Mark Troughton, will serve as interim finance chief while the company conducts an executive search. Chime also reported a 27% year-over-year increase in second-quarter revenue.

  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Fed approves Santander-Webster deal

    The $12.3 billion transaction – approved by the Fed 129 days after the application was filed – is expected to close Aug. 20, Santander said.

  • The exterior of the USAA headquarters building is shown.
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    Courtesy of USAA
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    Bank of America, USAA ink patent agreement

    The deal allows each company to use the other’s full portfolio of patents. USAA for years has sued – or threatened court action against – banks it says infringe on its remote deposit capture patents.

  • A close-up of the name "J.P. Morgan" is shown on a glass door.
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    Michael M. Santiago / Staff via Getty Images
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    JPMorgan to deploy $750B for affordable housing by 2035

    The bank will invest the capital through its American Dream Initiative, an economic mobility program launched this year that also aims to boost housing access.

  • A sign shows the FDIC acronym in the foreground on the left, and glass doors and an FDIC rug in the background to the right.
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    Augustus gets FDIC nod to launch bank

    Among stipulations of the approval, the clearing bank must launch with $73,660,000 or more in capital funds and maintain a 10% or greater leverage ratio throughout its first three years.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency
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    Stablecoin firm Dakota applies for OCC trust banking charter

    “For you, that means fewer layers between your product and the financial services underneath it,” Dakota CEO Ryan Bozarth said in a blog post.

  • A close-up of a building with Capital One signage is shown.
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    Trump’s Capital One accounts closed after AML review, bank says

    The bank has not accused the Trump Organization of money laundering. But Capital One said the transaction patterns it identified are “among the types of activity flagged by federal banking guidance.”

  • The Department of Justice in Washington, D.C.
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    Drew Angerer via Getty Images
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    Judge rejects DOJ’s attempt to drop Lakeland redlining order

    A federal judge denied the government’s bid to terminate the bank’s consent order ahead of schedule, saying “a promise to reach substantial compliance in the future is not substantial compliance.”

  • A UBS location in New York City is shown, with the letters "UBS" on the building front.
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    Caitlin Mullen/Banking Dive
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    UBS to pay $125M in AML penalties

    The brokerage arm of the Swiss bank didn’t fix flaws identified in 2018, resulting in some 60,000 foreign currency wires valued at about $10 billion going unmonitored, regulators said.

  • A Frost branch in Kyle, Texas is shown, with "Frost" signage on the building.
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    Permission granted by Frost
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    Frost CEO warns of ‘race to the bottom’ on Texas loan structure

    While $54 billion-asset Frost Bank seeks to remain competitive on price, the structure element of loans can be tough, because it’s “dangerous to do that poorly,” CEO Phil Green said.

  • The Office of the Comptroller of the Currency logo
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    OCC, FDIC propose another CRA revamp

    The regulators – absent the Federal Reserve – would limit grants banks give to “activist” community groups. Friday’s proposal would also reduce the number of banks that must collect CRA-related data.

  • Two people walk by a Citi branch in a downtown setting
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    Spencer Platt / Staff via Getty Images
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    Citi hires away FinCEN chief for compliance role

    Andrea Gacki, the director of the Financial Crimes Enforcement Network since 2023, will become global head of sanctions at the New York City-based lender.

  • A person wearing a shirt, tie and jacket and seated on a stage speaks while looking to their left.
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    Alex Wong / Staff via Getty Images
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    Chime to cut 10% of workforce

    CEO Chris Britt cited AI innovations but also a switch to smaller teams, faster movement, higher productivity and in-office work.

  • The sun sets on a white stone building that features an eagle sculpture atop a series of columns. Scaffolding is seen between each of the four columns.
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    Andrew Harnik / Staff via Getty Images
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    Fed bans ex-Regions, First Interstate bankers

    An Idaho-based teller embezzled $8,000 from First Interstate’s cash recycler, the central bank said. A Florida-based Regions relationship banker allegedly withdrew roughly $203,000 from a customer account without consent.

  • Bank sign
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    Founder of fintech Increase buys a bank in Washington state

    Increase founder Darragh Buckley said the move was a long time coming, as he started the company six years ago with the goal of marrying a bank and technology company.

  • A glass and stone building is shown in the evening, with lights on inside, and "Associated Bank" name and logo on the outside.
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    Permission granted by Associated Bank
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    Associated Bank chief digital officer joins from BMO

    Brianna Elsass leaves BMO after a decade of digital leadership positions. She most recently led the Canadian bank’s U.S. digital and technology business.

  • A commercial building with large windows; the sign “Capital One Bank” appears in white letters with a red swoosh over a glass entrance.
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    Alamy
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    Capital One gives update on Discover community investment plan

    The bank issued a report last month on progress related to the $265 billion it had committed to invest as part of its bid to buy Discover. Charitable organizations offered little support for the statement.

  • An aerial view of buildings and skyscrapers in downtown Los Angeles at sunset
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    Banc of California sees surprise $251.3M loss

    The Los Angeles lender repositioned securities into shorter-duration, higher-yielding products. It also launched the sale of $827 million in real estate and multifamily loans and retired $385 million in debt.

  • Exterior view of a PNC Bank branch with a revolving glass door. The building facade has large vertical columns. The PNC Bank sign features a blue and orange color scheme above the entrance.
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    Alamy
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    PNC’s wealth unit targets mass-affluent clients with lending option

    The Pittsburgh-based lender is pursuing a national identity, and national banks have put more focus on a securities-based lending-type solution in recent years, an executive said.