The Latest
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Alamy
Huntington hires BNY alum as next risk chief
Senthil Kumar will become Huntington’s CRO as it transitions to a Category III bank, with higher liquidity requirements and capital buffers and more frequent stress tests.
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Washington state credit unions buying banks face new tax
A 1.2% tax applies to gross income generated from such transactions, meaning there are no deductions for labor and materials, to deals submitted for regulatory approval after Jan. 1, 2026.
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Eduardo Munoz Alvarez via Getty Images
NJ banks to merge in $597M deal
Columbia Bank and Northfield Bank will combine to create a bank with $18 billion in assets, bringing Columbia’s footprint into New York state for the first time.
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Santander to buy Webster for $12.3B
The acquisition would create a top-10 retail and commercial bank in the U.S. by assets and a top-five deposit franchise in the Northeast, the banks said Tuesday.
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Citi pilots AI-assisted collaboration feature for employees
The bank’s CTO, David Griffiths, said Spaces will help teams work together on projects within the company’s AI platform.
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Permission granted by Cross River Bank
Cross River exec: Embedded finance to ‘explode’
Tucking financial services, like payments, into a broader range of consumer situations is about to take off, bank executives said.
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Fed’s Miran resigns from White House role
The move comes after senators urged him to leave the central bank’s board, where his term ended Jan. 31. Miran is allowed to stay until a successor is confirmed.
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Mario Tama / Staff via Getty Images
Q&A‘These players matter’: BNY embraces role on small lenders’ AI journey
Amid an effort to train community banks on artificial intelligence technology, a BNY executive said, “If we help them, the entire financial system gets stronger.”
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Courtesy of Affirm
Why some payments companies want to be banks
Banking charters let those companies streamline their services and save money by not partnering with banks.
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Alamy
U.S. Bank COO to retire this spring
The bank hasn’t yet named a successor for Souheil Badran, but said he will be involved in the leadership transition.
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Courtesy of https://www.varomoney.com/press/
Varo raises $123.9M, adds 2 board members
Morgan Stanley’s former marketing chief and an 18-year veteran of JPMorgan Chase have joined the digital bank’s board, which also counts Coliseum Capital Management among its new investors.
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Chicago bank first to fail in 2026
An Illinois regulator closed Metropolitan Capital Bank & Trust on Friday, and the FDIC sold the majority of its assets to Detroit-based First Independence Bank.
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Permission granted by Frost
Frost Bank stays the course amid Texas M&A spurt
The San Antonio-based lender has “zero interest” in M&A, CEO Phil Green said – so much so that he said no one approaches him anymore. “They know I’m not in that game.”
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Florida credit union sues Fiserv, alleging lax cybersecurity
FiCare Federal Credit Union said hackers breached an online banking platform that Fiserv provides and stole members’ money. The credit union alleges Fiserv then told customers it would charge them for a security upgrade.
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Spencer Platt / Staff via Getty Images
Flagstar returns to profitability
Two years after commercial real estate loans sent the bank into a spiral, the Long Island-based lender is “pivoting to the growth side of the story,” its CFO said Friday.
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What’s coming for the banking industry in 2026
2025 brought a surge of M&A. Expect more this year. De novo applications, too, spiked last year. That should continue. If regulation was stripped down in 2025, expect a buildup – with a different look.
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Michael M. Santiago via Getty Images
Trump nominates Kevin Warsh as next Fed chair
The former Federal Reserve governor was a candidate to lead the central bank in 2017, but the president chose Jerome Powell.
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BNY dismissed from Epstein case, but BofA must face some claims
A judge rejected allegations that Bank of America failed to uphold anti-money laundering and know-your-customer standards. The lender, however, will face a claim that it obstructed the enforcement of trafficking laws.
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Wells Fargo to pay CEO Scharf $40M for 2025
The bank credited Charlie Scharf for the resolution of seven consent orders last year, including a $1.95 trillion asset cap imposed by the Federal Reserve.
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Photo by Bia Santana from Pexels.
Nubank gets conditional OCC approval for charter
The Brazilian digital challenger “will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months” as it awaits green lights from the Fed and FDIC.
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Justin Sullivan via Getty Images
Charles Schwab banking unit CEO to retire
Tyler Woulfe, managing director of banking and trust services, will replace bank CEO Paul Woolway, who will retire July 1. Schwab's CIO and top wealth executive will also see added responsibility.
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Permission granted by UMB
UMB CEO takes ‘measured’ tone on M&A
After integrating HTLF, UMB has learned that “between close and conversion, expectations should be more muted for growth out of the acquired company,” CEO Mariner Kemper said Wednesday.
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Alamy
U.S. Bank CEO Kedia named chair
With the move, effective in April, the Minneapolis-based lender joins all eight of the U.S.’s G-SIBs in consolidating CEO and chair roles. Gunjan Kedia’s predecessor, Andy Cecere, is retiring from the board.
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Justin Sullivan / Staff via Getty Images
Wells Fargo launches internal proxy voting service
The bank’s investment management arm becomes the second major asset manager to ditch third-party proxy advisory firms for a proprietary service.
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Prosperity Bank continues its Texas tear
The Houston-based lender agreed to buy Stellar Bank in a roughly $2 billion deal expected to close in the second quarter. The transaction would be Prosperity’s third announced acquisition since July.
