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    AI will reshape financial services, and regulation will follow

    As banks move toward AI-first services, managing autonomy will be the main challenge for regulators, according to the U.K.’s primary financial watchdog.

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    Nuvei names new C-suite executives

    The Canadian company that just bought New York-based Payoneer remade its C-suite, and is doubling down on agentic commerce.

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    Dive Deposits: The CFPB just redefined 2 weeks’ notice

    The bureau gave employees until July 14 to accept a geographic reassignment. Declining the move or failing to respond in time “will result in your separation from the CFPB,” according to a Tuesday note to staff.

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    OCC ends enforcement against Patriot Bank

    Expenses related to the agreement have totaled over $5 million. CEO Steven Sugarman said he now expects regulatory and FDIC fees to decrease.

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    Banks, card networks, fintechs partner on ‘low-cost’ stablecoin

    More than 140 businesses, including BNY, Visa and Coinbase, lent their backing to a digital asset launched Tuesday by Open Standard, a consortium led by Bridge CEO Zach Abrams.

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    EagleBank to pay $9.7M to resolve BSA violations

    The Bethesda, Maryland-based lender admitted to knowingly letting customers engage in a check fraud scheme, and to having lax anti-money laundering controls for more than a decade.

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    SoFi enters small-business loan market

    “For many of our members, their financial lives do not stop at personal goals, they also include the businesses they are building,” said SoFi CEO Anthony Noto.

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    Ramp elevates CTO to co-CEO

    “If you know us, this won’t feel like a change,” wrote Eric Glyman of fellow co-founder Karim Atiyeh’s move to the top of the fintech.

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    Commerce Bank in St. Louis to buy boutique firm

    Buying Nolan & Associates would mark the $37.5 billion-asset bank’s second deal in a year.

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    Warren grills Capital One CEO over CFPB nominee

    The Democratic senator wanted to know if Capital One executive-turned-CFPB nominee Brian Johnson had any role in the bureau’s termination of a lawsuit against the bank.

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    Lawmakers reintroduce cannabis banking reform

    Sen. Jeff Merkley and others have once again reintroduced cannabis banking reform, this time in new waters – following the rescheduling of medical cannabis.

  • A sign above an ATM at a Capital One Café on February 19, 2024, in Miami, Florida.
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    Capital One aims to be ‘steady partner’ amid Texas consolidation

    With so many banks angling to serve Texas businesses, it’s “a difficult market to compete in,” said the president of the lender’s corporate banking segment.

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    Supreme Court rules Trump can’t fire Fed’s Cook

    Justices voted 5-4 that Lisa Cook should remain at the central bank, despite the president’s attempt to remove her. The court, however, expanded presidential powers to fire other federal appointees.

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    Morgan Stanley gets OCC’s conditional approval for trust charter

    The digital-asset trust must maintain at least $50 million in tier 1 capital and obtain the regulator’s nonobjection for any changes to the business or directors.

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    Two Southeast banks to merge in $163M deal

    When it buys First Reliance, Colony Bank will become the largest sub-$10 billion-asset bank headquartered in Georgia or South Carolina, the acquirer said.

  • 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 overhauls complaint system to curb ‘abuse’

    Citing a dramatic increase in credit reporting complaint volume, the bureau said its fixes would “restore integrity” to the system. But consumer advocates said changes will make it increasingly difficult for consumers to get help from the agency.

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    JPMorgan’s Lake exits as Petno, Rohrbaugh named co-presidents

    Longtime executives Doug Petno and Troy Rohrbaugh will each hold two roles, as Marianne Lake – previously seen as a potential successor to CEO Jamie Dimon – retires from the company.

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    JPMorgan exec in Knicks trash can video has left the bank

    Angie Baez, who worked as an executive director of community and industry engagement for card and connected commerce, received $175 in fines after returning the bin, taken after a parade last week. 

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    Big banks breeze through Fed’s stress test

    But the results don’t affect banks’ minimum regulatory capital requirements this year, in light of the central bank’s freeze of 2025 stress capital buffers.

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    Banks strike deals in Michigan, Wisconsin

    A deal in Michigan is set to create a $1.68 billion-asset bank. Another, in Wisconsin, will create a $3.1 billion-asset institution.

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    GOP senator slams banks over deposit posting

    Sen. Bernie Moreno, R-OH, threatened legislative action Tuesday if banks don't voluntarily change the order in which they post transactions, saying that posting customers’ withdrawals before deposits can trigger overdraft fees.

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    Dive Deposits: Fiserv’s CEO switch cements JPMorgan alum’s next chapter

    The payments processor turned to Takis Georgakopoulos when Mike Lyons left for Truist. If the new CEO’s name sounds familiar, that may be because of a dust-up with Greek fintech Viva Wallet.

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    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.