The Latest

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    How the OCC is handling its charter application workload

    The agency is handling a swell of new-bank applications by pulling talent from the supervision side into one- or two-year rotations in the OCC’s chartering arm, Comptroller Jonathan Gould said.

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    Dive Deposits: The CFPB RIF case is truly at an impasse

    The bureau’s lawyer suggested the dispute could be settled out of court, while the D.C. Circuit may kick the case back to a district judge.

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    Wells Fargo taps KeyBank alum to lead business banking

    Dennis Devine, former president of consumer banking at Key and ex-CEO of Alliant Credit Union, joined Wells on Monday as the bank looks to boost business after the lifting of a seven-year asset cap.

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    Payoneer applies for OCC’s national trust bank charter

    The cross-border platform joins the influx of fintechs seeking banking licenses to issue and custody stablecoins. The OCC has conditionally approved at least seven trust bank charters since December.

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    How the Fed is making AI ‘durable’

    Fed Gov. Christopher Waller likened the rise of AI to the advent of ATMs, which shifted “human effort” to higher-value work. But fellow Fed Gov. Lisa Cook warned of labor market “costs” tied to AI adoption.  

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    JPMorgan’s Dimon: ‘My anxiety is high’ over future credit cycle

    Elevated asset prices and an intensely competitive landscape remind the CEO of the years just prior to the 2008 financial crisis, he said Monday.

  • A sign for CitiBank is seen on the bank branch in Manhattan on March 01, 2024 in New York City.
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    Spencer Platt / Staff via Getty Images
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    Citi sells another 24% of Banamex

    Private-equity firm General Atlantic, Brazilian bank BTG Pactual and funds managed by Blackstone and Qatar Investment Authority are among buyers of as much as 4.9% each.

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    Crypto.com gets OCC’s conditional nod for charter

    The green light, which came roughly four months after Crypto.com applied, follows conditional approval for trust charters at Circle, Ripple, Paxos and, most recently, Bridge.

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    Centerview, ex-analyst settle suit over sleep hours for junior bankers

    Kathryn Shiber requested a regular “hard stop” at midnight to sleep and manage a mood and anxiety disorder. The bank granted the accommodation but later fired her. Terms of the settlement were not disclosed.

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    Union-related charge against Wells Fargo dismissed

    Union representatives have long accused the bank of union busting. The National Labor Relations Board dismissed one such claim this month, but Wells faces at least one more.

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    Banks boost venture capital deals to scale AI

    Wells Fargo and Citi topped the leaderboard for AI VC investments as the financial services industry works to build and scale the technology.

  • A person walks past the metal and glass doors of a TD Bank branch. The doors read "America's Most Convenient Bank."
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    TD aims to retain its branch ‘essence’ amid brand refresh

    As the bank leans into digital banking, it wants to meet evolving consumer expectations, deepen relationships and retain customers.

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    JPMorgan’s lawyers deny Trump ‘blacklist’ claims

    The bank said CEO Jamie Dimon should not have been named as a defendant and asked for the president’s debanking case to move to federal court.

  • Federal Reserve Governor Michelle Bowman stands behind a podium and speaks.
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    Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
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    Democratic senators press Bowman on Fed changes

    Lawmakers led by Elizabeth Warren pressed Michelle Bowman over allegations that she fired bank examiners and launched a new review of Silicon Valley Bank’s collapse.

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    Klarna pursues more banking customers

    The company is targeting more long-term loan and debit card customers as an avenue for growth as it sees its second consecutive quarterly loss.

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    Bank of America overhauls rewards program

    The bank’s new program will offer rewards to personal checking account clients regardless of their balance, making 30 million existing customers eligible to join.

  • ​A close-up of an iPhone screen displaying the Remitly: Send Money & Transfer app's listing in the Apple App Store. The screen shows the Remitly logo, app name, and download option, highlighting the digital remittance service's presence on mobile platforms.
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    Alamy
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    Remitly hires Santander alum as its next CEO

    Sebastian Gunningham served as vice chair of Santander’s Openbank platform. He replaces Remitly co-founder Matt Oppenheimer, who will move into a board chair role.

  • A person is shown from behind opening the metal and glass doors of a Chase bank branch, with the company's signage and logo above the doors.
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    JPMorgan Chase targets 160 branch openings this year

    The largest U.S. lender flagged the Carolinas, Florida, Pennsylvania, Kansas, Massachusetts and Tennessee as states where it’s planning “major expansion” this year.

  • The entrance to the Consumer Financial Protection Bureau headquarters is seen, with the bureau's logo on a glass door.
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    CFPB’s ‘regulatory burden’ cost consumers billions: White House

    The report follows two others released last week by the Government Accountability Office and Senate Democrats that drew different conclusions.

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    TD’s US head of AI weighs in on agents

    Successful AI projects hinge on envisioning the full production environment where employees and customers will engage with the technology, Ted Paris said.

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    Warren targets Dimon for help on interest rate caps

    The senator says her bill emulates a proposal by the JPMorgan Chase CEO to let states determine their own card interest rate limits.

  • Ed Robinson, co-founder and co-CEo of fintech Stash
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    Singapore super-app Grab to acquire US fintech Stash

    The deal is set to close in the third quarter, when Grab will pay $425 million to acquire a majority interest in the fintech, then buy the rest at market value over the next three years.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    OCC conditionally approves Stripe subsidiary Bridge for trust charter

    The nod comes roughly two months after digital-asset firms Circle, Ripple and Paxos received a similar green light.

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    Gemini loses 3 C-suite executives

    The crypto exchange's CFO, chief operating officer and legal chief are leaving the company five months after its IPO. Gemini this month announced layoffs and a strategic pivot.

  • Michelle Bowman speaks at an April 2024 event
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    (2024). [Photo]. Retrieved from Federal Reserve.
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    Fed to consider changes in mortgage lending rules

    Banks have lost their hold on mortgage originations in recent years to nonbanks. The Fed is looking at regulatory changes to bring mortgages back into the banking fold, according to Michelle Bowman.