The Latest

  • Green and white signage on the exterior of a building reads "TD Bank."
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    TD eyes $150M in cost reductions – with help from AI

    A core tenet of the bank’s AI strategy is to “build once and use many times,” CEO Raymond Chun said.

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    Column

    Would a bank buy PayPal?

    Whether major banks, such as JPMorgan Chase and Capital One, might have an interest in owning PayPal could turn on their ability to monetize that two-sided network.

  • 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, Barclays, Fifth Third sued over Tricolor

    Asset-backed securities investors accused the banks of ignoring “giant red flags” about the bankrupt subprime auto lender and “enabling” its “massive fraud.”

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    Edward Jones gets FDIC’s nod for ILC charter

    The approval caps a nearly six-year journey for the investment firm, which aims to launch an industrial bank next year.

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    Mario Tama via Getty Images
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    Morgan Stanley brings trust charter pursuit into the mainstream

    The banking behemoth’s application lands at the OCC as a flurry of fintechs vie for the same license. Morgan Stanley has recently partnered on a crypto trading effort and filed paperwork for holdings of three digital currencies.

  • Senator Elizabeth Warren speaks during a legislative hearing, holding her handout to the side. A sign in front of her reads "Ms. Warren."
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    Warren grills Gould over World Liberty charter application

    The Senate Banking Committee’s ranking member warned the OCC’s chief he could become “an accomplice” to corruption if the Trump family’s crypto venture is approved for a trust bank charter.

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    NY banks Arrow, Adirondack to merge in $89.1M deal

    The combination gives Arrow 19 added locations and a blueprint to expand west into the Mohawk Valley and north to mountain resort towns like Lake Placid.

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    Washington’s FS Bancorp boosts Portland presence

    The bank’s $34.6 million merger with Oregon-based Pacific West, set to close in the third quarter, will create a lender with 31 locations and $3.6 billion in assets.

  • The HSBC logo is seen outside a bank branch.
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    Matt Cardy via Getty Images
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    HSBC names generative AI a leading investment area

    The London-based bank plans to use the technology for employee assistance, process reengineering and customer experience.

  • A person wearing a blue hat and light t-shirt walks past a KeyBank branch location, as the glass reflects the street scene.
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    Spencer Platt / Staff via Getty Images
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    KeyBank wants 10% boost in its commercial-banking workforce

    After hiring a Kansas City-based family office team, the Cleveland-based regional seeks to add commercial bankers in New York, Chicago, Southern California and Atlanta.

  • The entrance to the Consumer Financial Protection Bureau headquarters is seen, with the bureau's logo on a glass door.
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    Anna Moneymaker / Staff via Getty Images
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    Column

    Dive Deposits: The CFPB RIF case is truly at an impasse

    The bureau’s lawyer suggested the dispute could be settled out of court, while the D.C. Circuit may kick the case back to a district judge.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Deep Dive

    How the OCC is handling its charter application workload

    The agency is handling a swell of new-bank applications by pulling talent from the supervision side into one- or two-year rotations in the OCC’s chartering arm, Comptroller Jonathan Gould said.

  • A person walks out of the entrance way of a stone and glass building that has a "Wells Fargo" sign above the street corner entrance.
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    Wells Fargo taps KeyBank alum to lead business banking

    Dennis Devine, former president of consumer banking at Key and ex-CEO of Alliant Credit Union, joined Wells on Monday as the bank looks to boost business after the lifting of a seven-year asset cap.

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    Payoneer applies for OCC’s national trust bank charter

    The cross-border platform joins the influx of fintechs seeking banking licenses to issue and custody stablecoins. The OCC has conditionally approved at least seven trust bank charters since December.

  • A construction worker paints an eagle
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    Kevin Dietsch/Getty Images via Getty Images
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    How the Fed is making AI ‘durable’

    Fed Gov. Christopher Waller likened the rise of AI to the advent of ATMs, which shifted “human effort” to higher-value work. But fellow Fed Gov. Lisa Cook warned of labor market “costs” tied to AI adoption.  

  • Jamie Dimon JPMorgan Chase credit cards interest rates Trump
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    JPMorgan’s Dimon: ‘My anxiety is high’ over future credit cycle

    Elevated asset prices and an intensely competitive landscape remind the CEO of the years just prior to the 2008 financial crisis, he said Monday.

  • A sign for CitiBank is seen on the bank branch in Manhattan on March 01, 2024 in New York City.
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    Spencer Platt / Staff via Getty Images
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    Citi sells another 24% of Banamex

    Private-equity firm General Atlantic, Brazilian bank BTG Pactual and funds managed by Blackstone and Qatar Investment Authority are among buyers of as much as 4.9% each.

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    Crypto.com gets OCC’s conditional nod for charter

    The green light, which came roughly four months after Crypto.com applied, follows conditional approval for trust charters at Circle, Ripple, Paxos and, most recently, Bridge.

  • A judge's gavel is shown in a close-up photo sitting on a pedestal on a desk in a courtoom
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    Centerview, ex-analyst settle suit over sleep hours for junior bankers

    Kathryn Shiber requested a regular “hard stop” at midnight to sleep and manage a mood and anxiety disorder. The bank granted the accommodation but later fired her. Terms of the settlement were not disclosed.

  • wells fargo
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    Union-related charge against Wells Fargo dismissed

    Union representatives have long accused the bank of union busting. The National Labor Relations Board dismissed one such claim this month, but Wells faces at least one more.

  • CFPB open banking banks fintechs fees
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    Banks boost venture capital deals to scale AI

    Wells Fargo and Citi topped the leaderboard for AI VC investments as the financial services industry works to build and scale the technology.

  • A person walks past the metal and glass doors of a TD Bank branch. The doors read "America's Most Convenient Bank."
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    Spencer Platt / Staff via Getty Images
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    TD aims to retain its branch ‘essence’ amid brand refresh

    As the bank leans into digital banking, it wants to meet evolving consumer expectations, deepen relationships and retain customers.

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    Alex Wroblewski via Getty Images
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    JPMorgan’s lawyers deny Trump ‘blacklist’ claims

    The bank said CEO Jamie Dimon should not have been named as a defendant and asked for the president’s debanking case to move to federal court.

  • Federal Reserve Governor Michelle Bowman stands behind a podium and speaks.
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    Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
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    Democratic senators press Bowman on Fed changes

    Lawmakers led by Elizabeth Warren pressed Michelle Bowman over allegations that she fired bank examiners and launched a new review of Silicon Valley Bank’s collapse.

  • Klarna IPO
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    Klarna pursues more banking customers

    The company is targeting more long-term loan and debit card customers as an avenue for growth as it sees its second consecutive quarterly loss.