The Latest
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Courtesy of KeyBank
KeyBank bets on relationships over tech budgets
Still, midsize lenders must take “more progressive, larger steps” to meet evolving customer expectations, said Emily Gessner, who jumps from a consumer to a commercial role at the bank next month.
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Senate Democrats press Vought on CFPB website deletions
“Your decision deprives Americans of key resources and is yet another giveaway to companies intent on scamming the public of their hard earned dollars,” the senators, led by Elizabeth Warren, wrote.
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What Navy Federal found in its synthetic data pilot
Working with Qualtrics, the credit union found clear cases where synthetic data can deliver. But when it comes to emotions, human research wins out.
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Alexi J. Rosenfeld via Getty Images
Ex-NY governor to lead blockchain venture between OKX, NYSE owner
A venture between crypto firm OKX and Intercontinental Exchange aims to focus on building infrastructure for tokenized financial products.
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Fintech partner to rebrand to Quill Bank
Utah-based Capital Community Bank is set to launch a revamped website June 30, with a mission to lend credibility and “banking backbone” to fintech partners.
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Flagstar CIO: Proprietary tech creates ‘optionality’
The regional bank said StarIQ, its generative AI system, “was built specifically for regulated financial services environments.”
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Court denies 45-day deadline to rule on CFPB staff-cut case
Now the district judge who issued a preliminary injunction – halting workforce reductions at the bureau – will review the agency’s plan to shed more than half of its jobs.
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Roberto Torres/Banking Dive
AI lessons learned from 3 SMB banks
Starting with targeted use cases, focusing on underlying data and managing change are key to successful use cases, banking leaders said.
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Santander-Webster deal gets OCC approval
The $12.3 billion acquisition, which also needs a green light from the Federal Reserve and European Central Bank, got the OCC’s go-ahead 74 days after the application was submitted.
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MidFirst Bank to buy Dallas-based commercial bank
The proposed deal, expected to close in the second half of this year, follows MidFirst’s 2024 acquisition of six Houston-area locations from Amerant Bank.
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How Fifth Third, Star One are fighting elder fraud
The regional bank and California credit union are implementing strategies aimed at detecting scams earlier and being more proactive.
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Caitlin Mullen/Banking Dive
JPMorgan, BofA, others challenge the BNPL space
Buy now, pay later players, including Klarna and Affirm, are facing more competition as financial institutions begin offering installment payment options.
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Michigan bank to buy in-state peer for $54.6M
By buying Grand River Bank, Isabella Bank will gain access to the growing Grand Rapids market.
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Caitlin Mullen/Banking Dive
Ameris Bank owes former executive $80M, jury finds
The Atlanta-based bank plans to appeal the verdict and said final resolution of the matter “could have a material adverse effect” on its financial condition.
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Barclays to buy kid-focused financial literacy app GoHenry
Acorns, which bought GoHenry in 2023, will hold onto the platform’s U.S. business.
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Jemal Countess / Stringer via Getty Images
Q&A‘We are not ready’: AI could trigger bank runs in seconds, lawmaker says
Rep. Bill Foster, D-IL, said real-time regulatory dashboards, standardized reporting and open source software are needed to respond to an AI-driven bank run.
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DC-area banks to merge in $98M deal
The merger of Tysons Corner, Virginia-based ODNB Financial Corp. and Washington, D.C.-based National Capital Bancorp is set to create a $2.4 billion-asset bank with 10 branches across four states and the nation’s capital.
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Anna Moneymaker via Getty Images
GAO prods FDIC on rotating examiners
By instituting such a requirement, the FDIC “could mitigate threats to independence and better ensure that escalation decisions are independent and evidence-based,” the GAO said.
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Robinhood cuts nearly 300 employees
While other fintechs credited AI in staff reductions, Robinhood cited a need to remain a “lean, hyper-focused team where every single individual is empowered to make a massive impact.”
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Caitlin Mullen/Banking Dive
Truist taps Fiserv chief Lyons as next CEO
Mike Lyons, who until last year served as president of PNC, starts in his new role at Truist Sept. 1. He replaces Bill Rogers, who will become executive chair through April 2027.
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Courtesy of Nu Holdings
Nubank notifies customers of its liquidation in error
Brazil’s central bank is not liquidating the digital lender. But dozens of customers Friday received a message telling them this was the case.
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Obtained from Amazon
Nuvei to buy Payoneer for $2.75B
The Canadian payments processor will acquire the New York City-based company to create a bigger cross-border payments player.
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Caitlin Mullen/Banking Dive
No ‘designated geniuses’: How BofA democratizes innovation
“Innovation isn’t in its own lane,” said Cameron Wadley, a Bank of America managing director whose patents are at the foundation of the bank’s AI assistant Erica.
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Oklahoma’s BancFirst to buy SpiritBank, boost Tulsa presence
The deal, set to close in the fourth quarter for an undisclosed sum, marks the second Tulsa-area bank acquisition in roughly a year for BancFirst.
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Anna Hrushka/Banking Dive
Adyen to buy Orb for $335M
The Dutch payments processor is swallowing the San Francisco startup as both adapt their businesses to the age of artificial intelligence.
