The Latest
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NY AG sues Capital One over lost customer interest
The state essentially picked up the challenge the CFPB put down when it dismissed its own lawsuit alleging the bank cost users $2 billion by not informing them of a higher-yield savings account.
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Michael M. Santiago / Staff via Getty Images
Wells Fargo eyes opportunity with baby-boomer wealth transfer
The bank, which has bolstered the connection between its commercial bank and wealth units, seeks to cultivate deeper relationships as aging business owners assess the future.
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JPMorgan drops portions of its Viva lawsuit
The bank and Viva Wallet, which it partially owns, have been locked in legal battles since early 2024.
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Mesut Dogan via Getty Images
Fed drops enforcement action against Illinois bank
The central bank flagged deficiencies at Du Quoin State Bank in 2023 and directed the lender to improve capital, liquidity and interest rate risk management.
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Q&A
JPMorgan Chase taps payments tech head
The bank’s payments arm named Sri Shivananda to head up its technology operations this year. Now, he’s overseeing decisions on stablecoins, real-time transactions and other advances.
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Courtesy of Comerica
Comerica risk chief heads to USAA
Brian Goldman, who’s been Comerica’s chief risk officer for about a year and a half, will leave to take the same role at USAA, effective May 27.
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Andrew Harnik / Staff via Getty Images
Warren prods DOJ to sue to block Capital One-Discover deal
The senator urged the Justice Department’s new antitrust czar, who's expressed a general concern over the creation of too-big-to-fail firms, to “back [her] words with action.”
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Permission granted by Chime
Chime files for IPO
Chime submitted its paperwork to go public Tuesday in a widely expected move, stressing that it “is a technology company, not a bank.”
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BlackJack3D via Getty Images
Generative AI may shoulder up to 40% of workload, some bank execs predict
Six in 10 bank executives list generative AI as a top investment priority this year, according to a survey published in April by KPMG.
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Spencer Platt / Staff via Getty Images
Robinhood to buy WonderFi for $179M
The deal pushes Robinhood deeper into the Canadian market after the fintech opened its Canadian headquarters in Toronto last year.
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Andrew Harnik via Getty Images
CFPB seeks to rescind registry of nonbank repeat offenders
The NBR rule is “not necessary as a tool to effectively monitor and reduce potential risks to consumers from bad actors,” according to Acting Director Russ Vought.
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Lawmaker seeks probe into Ramp’s bid for $25M GSA contract
Rep. Gerry Connolly, D-VA, is looking into the GSA’s contractor selection process to work on the SmartPay program, alleging an agency employee called the fintech the “favorite” to win the contract.
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Courtesy of Bank of America
Bank of America to open 150 locations through 2027
Forty are anticipated to open by year’s end. All in, the bank has invested more than $5 billion across its branch footprint since 2016.
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Matt Cardy / Stringer via Getty Images
BNP Paribas shareholders approve higher age limit for CEO
The French bank’s investors Tuesday backed moves to allow 63-year-old Jean-Laurent Bonnafé and 74-year-old Jean Lemierre to remain in the chief executive and board chair roles longer.
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Anna Moneymaker / Staff via Getty Images
CFPB rescinds 67 pieces of guidance
The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.
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Andrew Harnik via Getty Images
Trump signs resolution to nix CFPB overdraft rule
The move overturns the bureau’s effort to cap overdraft fees at $5. The American Bankers Association also dropped its lawsuit regarding the rule.
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Justin Sullivan / Staff via Getty Images
Ex-Wells exec sues Fed for deferred compensation
James Richards’ restricted share rights were denied in March, arguably over Wells Fargo’s “troubled condition” and whether the annual awards were “golden handcuffs” or a “golden parachute.”
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Kayla Bartkowski / Staff via Getty Images
Trump to scrap McKernan’s CFPB nod for Treasury post
Jonathan McKernan’s nomination to lead the CFPB had been awaiting Senate confirmation. Instead, the president will nominate him to serve in a Treasury Department role.
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innni via Getty Images
Q&AMarqeta chief focuses on revenue diversity, execution
Interim CEO Mike Milotich wants to boost the processor’s non-Block revenue and expand its embedded finance offerings via a new mobile app for customers.
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Win McNamee via Getty Images
Capital One asks judge to toss Trump de-banking lawsuit
The Trump Organization’s “generalized allegations” of politically motivated de-banking don’t hold up and its claims lack “factual or legal support,” the bank said Wednesday.
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Jack Taylor via Getty Images
Ripple would get $75M back under SEC settlement
The agreement must get sign-off from a federal judge, among other next steps. A Democratic commissioner at the SEC, however, said the deal would mark a “tremendous disservice” to the law.
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Celsius founder gets 12 years in prison
Alex Mashinsky misrepresented Celsius’ business and financial position to woo customers into “unbanking themselves,” and then manipulated Celsius’ native token to enrich himself, the DOJ said.
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Justin Sullivan via Getty Images
Coinbase to buy options exchange Deribit in $2.9B deal
The transaction – the crypto sphere’s largest of the year – positions Coinbase to boost its international foothold and diversify its trading revenue.
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Dan Kitwood via Getty Images
Stablecoin bill falters in Senate
Democrats demanded fixes to the GENIUS Act – designed to create a framework for bringing stablecoins into the U.S. financial system – and raised concerns about Trump’s ties with crypto ventures.
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Permission granted by Office of the Comptroller of the Currency
Senate votes to overturn OCC ban on expedited merger review
A similar resolution pending in the House would reverse a rule toughening the approval process – just as opponents of the Capital One-Discover deal say the green light came too easily.
