The Latest

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    Kraken parent boosts card capabilities in $600M Reap acquisition

    The deal, set to close in the second half of this year, opens Payward’s pathway to the Asia-Pacific region.

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    Permission granted by Jacob Lund Photography / Jacob Lund
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    Sponsored by C&R Software

    Collections doesn’t need more AI tools. It needs a framework that scales.

    For collections teams, lasting AI value depends less on tools than on the framework beneath them.

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    Andres Kudacki via Getty Images
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    How Chime overcame trust challenges when deploying its AI agent

    Customer satisfaction rose after the fintech deployed Jade. “Automation and cost savings don’t need to come at the expense of a great experience,” COO Janelle Sallenave said.

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    Caitlin Mullen/Banking Dive
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    U.S. Bank takes ‘quieter’ approach to branch expansion

    The bank is prioritizing branch density and working to fix “unevenness” across its 26-state footprint. But it hasn’t committed to a specific number of branch builds.

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    Chip Somodevilla / Staff via Getty Images
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    Column

    Dive Deposits: Citi prepares for a small-t transition

    After a massive reorg, a tech revamp and exits from a dozen foreign markets, an updated target for return on tangible common equity may feel “underwhelming.” But Citi may be embracing incremental change.

  • JPMorgan Chase CEO Jamie Dimon
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    Win McNamee / Staff via Getty Images
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    Banking’s biggest names are talking about Mythos

    The Federal Reserve is considering effective supervisory approaches for Anthropic’s emerging AI model. JPMorgan Chase CEO Jamie Dimon said he thinks people need a chance to assess and mitigate its risks.

  • Federal Reserve Michelle Bowman payments fraud
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    Kevin Dietsch via Getty Images
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    Fed to launch roundtable to fight payment fraud

    The Federal Reserve sees a rising threat of payment fraud and wants to collaborate with other agencies to stop it, a Fed vice chair said.

  • The Claude by Anthropic app.
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    Michael M. Santiago via Getty Images
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    Anthropic deepens push into financial services

    The AI provider is developing industry-specific tools for finance and partnering with investors to gain an edge in middle-market enterprise tech adoption.

  • A brutalist-style commercial building containing grided dark windows has a large "M&T Bank" logo at the top corner of the building.
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    Alamy
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    M&T takes ‘patient’ approach to M&A, CFO says

    The Buffalo, New York-based regional has “a specific number of candidates that we're talking to” but an acquisition “will happen when it happens,” M&T CFO Daryl Bible said Tuesday.

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    Heather Diehl via Getty Images
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    Banks, crypto firms battle over stablecoin yield

    A compromise from two senators is reigniting debate over how far a ban on rewards for stablecoin holdings should extend.

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    Hacktivist group stole Chime customer information, lawsuits allege

    Three separate lawsuits allege that a hacker group known as Team 313 stole personal information from Chime customers when it attacked the fintech’s systems April 1.

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    Getty Images
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    Cambridge Savings Bank expands into NH in $80.9M deal

    Buying First Seacoast Bank will add five branches to the $7 billion-asset Massachusetts lender, and give Cambridge nearly $600 million in extra assets.

  • 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 vet wants to bolster ‘trusted adviser’ mindset

    Ed Pyne, named head of syndicated finance for JPMorgan commercial banking in March, said he wants to “connect the dots” for clients – beyond the product being discussed.

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    Matt Winkelmeyer / Staff via Getty Images
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    Coinbase axes 700 employees

    The cryptocurrency exchange joins a growing list of companies swapping out their workers for AI, following Block, Crypto.com and Bolt in making job cuts this year.

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    Dan Kitwood via Getty Images
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    Crypto exchange Bullish makes a $4.2B deal

    In buying Equiniti, Bullish gets a blockchain-native transfer agent that could allow investors to engage in 24/7 transactions, instant settlement and frictionless asset movement.

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    Trump-backed crypto firm countersues billionaire Sun over ‘smear campaign’

    World Liberty Financial accused Justin Sun of attempting to “tank” the price of the $WLFI token. Sun last month alleged World Liberty froze his assets when he refused to invest in a second token.

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    Kate Tornone/Banking Dive
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    Citizens Bank customers pull money over lender’s ICE ties

    Nonprofit organizations and individual customers are pushing back against Citizens' relationships to two ICE detention center operators.

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    Florida bank acquires failed Georgia lender’s deposits

    Community Bank & Trust - West Georgia, which received a Federal Reserve enforcement action last month, was closed by state regulators Friday, marking the second bank failure of the year.

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    Florida’s BayFirst makes a switch at CEO

    The bank named Tampa banking veteran Al Rogers as its top executive amid an $80 million capital raise and a reinforced commitment to community banking.

  • Citigroup building in downtown Toronto, Ontario is pictured on Sept. 13, 2024.
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    Citi launches Arc to scale AI agents across the business

    The bank is looking to the technology to automate manual tasks such as research and data analysis.

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    Washington bank Banner to buy Pacific Financial for $177M

    The deal, expected to close in the third quarter, will result in a combined entity with $18 billion in assets.

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    Citi adds AI-powered adviser in wealth unit

    Discussions are underway to use the agentic AI tool more broadly across the bank, “especially with the credit card business,” said Joe Bonanno, head of wealth intelligence at Citi.

  • A close-up of Russell Vought, Director of the Office of Management and Budget, shows him looking up.
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    Anna Moneymaker / Staff via Getty Images
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    CFPB slims small-business borrower data collection rule

    The rule, set to take effect in 2028, narrows back to 13 the number of data points collected and raises the lending threshold to a level that spares most small financial institutions.

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    Getty Images
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    Indiana credit union to buy Ohio bank

    Interra Credit Union’s purchase of The Hicksville Bank – the fourth whole-bank acquisition by a credit union announced this year – would expand the credit union’s footprint into northeast Indiana and northwest Ohio.

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    Chip Somodevilla via Getty Images
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    Lazard to buy private markets adviser Campbell Lutyens for $575M

    An additional consideration of up to $85 million will be determined by defined performance criteria over multiple years, Lazard said.

  • Aerial view of downtown phoenix, arizona.
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    Brandon Bell via Getty Images
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    Fintech OppFi to buy Arizona bank for $130M

    The Chicago-based subprime lender said pairing its online platform with BNC’s national bank charter lets it offer more banking services on a broader scale.