The Latest

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    CFPB, union agree to give Trump pick a say on staff-cut plan

    Brian Johnson, the nominee to lead the CFPB, would get 60 days to review the workforce reduction plan if the Senate confirms him, a district judge said Thursday.

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    Sponsored by Kyndryl

    Today’s banks are fueled by technology - 4 strategic recommendations for success

    Discover four strategic recommendations for building a more agile, customer-centric and future-ready bank.

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    Deutsche Bank fined $2M by Australian regulator

    It’s the second fine this year for the German bank, though it did not admit guilt or liability.

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    Valley Bank exec: AI is changing build-versus-buy question

    The New Jersey-based lender is using tiered employee access to control AI costs while pursuing internal efficiencies and relationship-building use cases, its chief operating officer said.

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    Circle gets OCC’s full trust bank charter nod

    The company’s CEO, Jeremy Allaire, said the development “marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system.”

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    Fed faults Iowa bank holding companies

    TS Banking Group and its bank holding company subsidiary TS Contrarian Bancshares must strengthen capital at two subsidiary banks, the central bank ordered.

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    Louisiana bank buys financial consulting firm

    Business First Bancshares, parent company of b1BANK, is a serial acquirer. This marks its seventh deal since 2020.

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    Fed stands out among bank enforcement action decline: Brookings

    Enforcement action activity by federal banking agencies has fallen over the past decade, according to a study published Wednesday.

  • Montgomery, Alabama, with the state Capitol and city buildings at dawn. A series of traffic lights are all red.
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    Activist investors push Alabama bank to use its built-up equity

    United Bancorporation of Alabama has teased the prospect of M&A, but since a $123 million cash infusion, its expenses have ballooned and deposits have stagnated, investors said.

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    Cash App triggers $45M settlement

    Block misled consumers about the safety of using the financial app and failed to help users who were fraud victims, 46 states alleged.

  • A newer PNC branch is shown, with "PNC" signage on the exterior of the building.
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    Courtesy of PNC
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    PNC’s new mobile banking app built on personalization

    The Pittsburgh-based bank wanted to debut a customizable app with more features and functionality “without making it heavy,” said Alex Overstrom, the lender’s head of retail banking.

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    Sony receives OCC’s conditional approval for trust charter

    The Japanese conglomerate aims to launch Connectia Trust, which will issue and manage stablecoins, in 2027. Banking trade groups and consumer advocates voiced their objection months ago.

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    Axos to buy Arc Technologies

    The deal marks Axos’ fourth purchase announcement in a year.

  • A person holds a Starling Bank card
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    Starling to whittle headcount by 3%

    The London challenger bank is cutting jobs to eliminate duplication and accelerate product delivery, a spokesperson said.

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    Fiserv president exits

    As Stripe alum Dhivya Suryadevara announced her resignation Tuesday, Fiserv elevated two executives.

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    Massachusetts lender to acquire NH bank for $160M

    The acquisition is set to expand Hometown’s footprint in New Hampshire and add $743 million in assets.

  • A U.S. Bank branch is shown with a small crowd of people standing near the front entrance. A sign in the window of the building says "Now Open."
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    Caitlin Mullen/Banking Dive
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    U.S. Bank pursues Gen Z with payments-first strategy

    By treating payments as the entry point to banking relationships, the Minneapolis-based lender is cultivating a low-cost funding base in a fiercely competitive deposit environment, said executive Arijit Roy.

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    Bank7 to buy 71% of Century Bank, maybe

    Century said it’s not involved in the share sale. But after its largest shareholder defaulted on loans at another bank with Century shares as collateral, the sale is partly up to the courts.

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    Klarna applies for ILC charter

    CEO Sebastian Siemiatkowski called a U.S. banking license a "natural next step, giving customers tools to borrow responsibly and build financial confidence."

  • Federal Reserve Bank of Kansas City building
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    Fed dings small Kansas lender for third time since 2023

    Lenexa, Kansas-based Small Business Bank must address being “significantly undercapitalized” within 30 days, the central bank wrote.

  • An office building with the word "Regions" at the top is shown against a blue sky.
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    Regions buys muni bond specialist Frazer Lanier

    The acquisition, for an undisclosed sum, would boost the Alabama-based bank’s profile as a municipal securities underwriter and placement agent – and continue its long-held strategy of making “bolt-on” purchases.

  • Todd Harper speaks into a microphone while two people sit behind him; a screen and speakers are mounted on the wall above the people.
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    Fired NCUA board members seek quick ruling on reinstatement

    Citing last week's Supreme Court opinions, Todd Harper and Tanya Otsuka told an appeals court the credit union agency should be shielded from at-will firings similar to the Federal Reserve.

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    AI will reshape financial services, and regulation will follow

    As banks move toward AI-first services, managing autonomy will be the main challenge for regulators, according to the U.K.’s primary financial watchdog.

  • A close-up of Russell Vought, Director of the Office of Management and Budget, shows him looking up.
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    Column

    Dive Deposits: The CFPB just redefined 2 weeks’ notice

    The bureau gave employees until July 14 to accept a geographic reassignment. Declining the move or failing to respond in time “will result in your separation from the CFPB,” according to a Tuesday note to staff.

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    Permission granted by Office of the Comptroller of the Currency
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    OCC ends enforcement against Patriot Bank

    Expenses related to the agreement have totaled over $5 million. CEO Steven Sugarman said he now expects regulatory and FDIC fees to decrease.

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    Banks, card networks, fintechs partner on ‘low-cost’ stablecoin

    More than 140 businesses, including BNY, Visa and Coinbase, lent their backing to a digital asset launched Tuesday by Open Standard, a consortium led by Bridge CEO Zach Abrams.