The Latest
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Lynne Marek/Banking Dive
Which Discover jobs are disappearing
As Capital One integrates the card business, it’s eliminating more than 100 application engineer jobs.
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Caitlin Mullen/Banking Dive
How Fifth Third beats back impersonation scams
Bank impersonation scams, which tripled from 2024 to 2025, were the leading scam the regional lender encountered in 2025, said Kristopher Edwards, head of fraud prevention.
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Upstart sued over AI model’s ‘overreaction’
Investors accused fintech executives of misleading them for adjusting revenue projections upward, debuting “overresponsive” AI, then needing to forecast downward.
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Julius Baer CFO to step down
Evie Kostakis has been “instrumental in driving our strategic footprint optimization, improving our operational efficiency, strengthening our investor base” and more, the bank’s CEO said.
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BMO launches AI, quantum computing institute
The institute will help further embed an enterprise-wide AI agenda, advance its quantum strategy and “[keep] us accountable and agile in this era of exponential change,” its lead executive said.
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Florida de novo gets FDIC’s conditional approval
Portrait Bank submitted its applications in September. It has raised $42 million from 248 local investors and aims to begin serving businesses, consumers and private-wealth clients this year.
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BNY gives its employees a homeownership hand-up
The bank is offering $6,500 in down payment assistance to employees who make $100,000 or less a year. BNY in recent years has raised its minimum wage and offered company stock to its lowest-paid workers.
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Santander, Webster lay out post-deal management plan
The banks tapped executives to lead retail, commercial and digital banking in moves announced Monday. However, Openbank chief Swati Bhatia will leave Santander on June 30.
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SMBC to add 2,000 jobs in Charlotte
The Japanese bank aims to open a second U.S. headquarters in the North Carolina banking boomtown.
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FDIC floats AML revamp, stablecoin guidelines
Under a proposed overhaul of anti-money laundering rules, only “significant or systemic failures” to implement an AML/CFT program would prompt an enforcement or supervisory action.
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Alamy
Bolt lays off roughly 30% of staff in AI push
The workforce reduction – affecting “less than 40 people,” according to the company – marks the fintech’s fourth round of cuts since 2022 amid a sharp valuation drop and the departure, then return, of its founding CEO.
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Chime makes an upmarket move
A new membership tier at the fintech lets users who put $3,000 or more per month in direct deposits into their account receive 5% cash back on a spending category, and a 3.75% annual percentage yield on savings.
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Caitlin Mullen/Banking Dive
PNC adds rewards program
Perks include enhanced credit card rewards, cash rewards on some lending services and higher savings rates, the Pittsburgh-based super-regional said.
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Cash management platform Lorum applies for national trust charter
“We’re basically building a new-age BNY,” said George Davis, the company’s founder.
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White House continues campaign to gut CDFIs
A Trump administration budget request cuts 63% of awards to community development financial institutions – and demands a focus on rural assistance rather than “immigration, gender and climate radicalism.”
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JPMorgan’s Dimon bemoans parts of Basel, G-SIB proposals
While the bank CEO backs a “timely finalization” of the proposals, the latest iterations “are still very flawed in a few specific areas,” Jamie Dimon wrote in his annual letter to shareholders.
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Permission granted by BNY
BNY, Robinhood tapped for Trump Accounts program
BNY will manage the initial accounts and develop an app for families to manage funds, and Robinhood will serve as brokerage and initial trustee of the accounts, the Treasury Department said.
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Judge won’t reconsider decision on DOJ’s Powell probe
The government’s arguments “do not come close to convincing the Court that a different outcome is warranted,” Judge James Boasberg said. A U.S. Attorney’s office said it would appeal.
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FNB CEO bets on smaller-bank innovation
“The future’s going to lead to smaller banks coming out with some very innovative tools that the larger banks miss,” the chief executive of the $50 billion-asset lender predicted.
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Coinbase nabs conditional OCC charter approval
A Coinbase executive credited “years of investment in compliance, engagement with regulators, and belief that the right path forward for crypto is through the system — not around it.”
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CFPB floats plan to cut staff in half
The bureau wants to persuade a district court to lift its injunction. Opponents call the plan “half-baked,” but the CFPB insists downsizing is needed to meet funding restrictions imposed by a measure passed in July.
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Q&A
Concerns mount over core provider issues
An OCC inquiry ought to result in core providers being held accountable for compliance issues within their systems that affect banks, a consultant urged.
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Former FTX exec faces $3.7M disgorgement, trading ban
The CFTC seeks no restitution or civil monetary penalty from Nishad Singh, “based in part upon Singh’s cooperation in [the] investigation and related proceedings.”
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Yotta sues Evolve again
Yotta customers remain “deprived of $80 million of their funds,” and Yotta’s business has “los[t] essentially all value” due to Evolve’s alleged malfeasance, according to the lawsuit.
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Bank of Hope to buy SMBC commercial unit
The Los Angeles-based lender will acquire $2.5 billion in commercial and commercial real estate loans and $2.7 billion in deposits, as well as eight branches in Southern California.
