The Latest
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Permission granted by Office of the Comptroller of the Currency
OCC returns Zerohash’s charter application
The regulator did not give a reason for the action, although there may be confusion over who will act as the company’s compliance chief. Zerohash indicated it would refile this month.
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Sponsored by Marquis5 things every bank should know about AI before making their next technology investment
Your data's more valuable than you think.
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Bank of America won’t let employees work remotely 2 days in a row
The ban on taking two consecutive remote days includes Friday to Monday and takes effect in mid-September, according to a policy update workers recently received.
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Custodia gets a hand from lawmakers, trade groups at high court
Sen. Cynthia Lummis, R-WY; former Sen. Pat Toomey, R-PA; the Digital Chamber and the Blockchain Association all argued for a resolution to the digital lender’s long-running master account fight.
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Bank of America to buy up to 49.9% stake in Jio Credit for $1.9B
“India is one of the world's most important growth markets, and this investment reflects our confidence in its future, a market we know well and have supported for decades,” Bank of America CEO Brian Moynihan said on the deal.
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FDIC tweaks de novo application process
The agency is adding a conditional approval phase and emphasizing collaboration with other bank-chartering agencies to boost efficiency.
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Sezzle pivots to national bank charter
With states imposing tighter rules on buy now, pay later companies, Sezzle CEO Charlie Youakim views a federal charter as “the most robust solution.”
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Goldman Sachs to buy ETF provider NEOS for up to $2.25B
Expected to close in the first quarter of 2027, the deal is the bank’s second multibillion-dollar ETF-related acquisition of the past nine months.
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Bank of America pledges $250B toward US infrastructure update
BofA will lend, bank, invest in and advise on projects such as data centers, power generation and transportation.
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Regions Bank names next chief administrative officer
Kate Danella, the bank’s head of consumer banking, will succeed Dave Keenan, who will retire at the end of the year, the Alabama-based lender said.
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eToro aims to boost US profile in $231M TradeZero deal
The Israeli platform wants to harness TradeZero’s “highly engaged” community to forge “a faster path to launching new products” stateside.
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Louisiana bank agrees to FDIC consent order over credit quality
Regulators restricted First Guaranty Bank’s ability to extend credit to borrowers whose transactions were labeled a “loss” in a September 2025 exam. The bank also must boost its Tier 1 leverage capital ratio.
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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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Permission granted by U.S. Bank
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.
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Courtesy of https://press.bunq.com/media_kits/228411/
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.”
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Kevin Dietsch / Staff via Getty Images
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.
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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.
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Permission granted by Northwest Bank
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.
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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.
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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.
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Courtesy of USAA
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.
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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.
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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.
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Permission granted by Office of the Comptroller of the Currency
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.
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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.”
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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.”
