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El Paso credit union to buy 11-branch bank
GECU said the deal “sets the stage for a strong combined entity that can support even more members and businesses with their financial needs.”
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Q&AWells Fargo exec: Cyber is ‘an everybody problem’
“Long gone are the days of the prince from a faraway land with a really bad grammatical email,” the bank’s head of cyber human defense said.
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Retrieved from OCC.
OCC terminates Blue Ridge Bank consent order
Now that the consent order has been closed, it’ll “be nice to get back to the banking business,” CEO Billy Beale said.
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Fed’s Kugler violated trading ethics, disclosure shows
A filing details stock transactions during “blackout periods” that surround interest rate-setting meetings. The paperwork may shed light on the central bank governor’s abrupt August departure.
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BofA, BNY blast ‘threadbare’ allegations in Epstein victim suit
Bank of America said it’s “not reasonably foreseeable” that rent payments made through an account with the bank would “set in motion” harms to the plaintiff. BNY called the allegations "razor-thin."
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Synapse bankruptcy case tossed
Some users of Synapse’s fintech partners, such as Yotta and Juno, have posted on a subreddit thread that they’re still personally owed thousands of dollars.
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Michigan State credit union group acquires fintech Tandem
The acquisition of the couples-focused finance app is part of the $8.26 billion-asset credit union’s plan to create “an end-to-end family banking ecosystem.”
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Banks turn to AI supervisors as agent use surges
Financial institutions are rapidly deploying AI agents in pursuit of billions in economic value, according to Capgemini.
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ColumnDive Deposits: CFPB cries poor but also tweaks fair lending, data collection
A Justice Department office argued the Fed has no money to fund the bureau. But the CFPB’s acting director hasn’t asked the central bank for money anyway.
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Alamy
Wells Fargo aims to entice affluent clients to deepen ties
The lender has rolled out enhanced benefits for premier customers. It’s also added talent and sharpened its management focus on the segment, Wells CFO Mike Santomassimo said recently.
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JPMorgan exec warns of stablecoin saturation
A deluge of digital coins threatens to make the cryptocurrency a loyalty program like airline frequent flier miles, the bank’s global co-head of payments said Nov. 12.
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Putin approves Citi’s Russia sale
The sale to Renaissance Capital is one piece of a 14-piece puzzle. Citi announced plans to offload its Russian consumer arm and 12 others in 2021, and added Mexico to the list in 2022.
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Caitlin Mullen/Banking Dive
Truist to require all employees in office 5 days a week
The Charlotte, North Carolina-based super-regional is ending hybrid work arrangements in January, it said Wednesday.
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Retrieved from Carol M. Highsmith.
Telcoin Digital Asset Bank nabs final charter approval
Last month, Telcoin said it had raised $25 million to capitalize the bank. It first applied for a charter with the Nebraska Department of Banking and Finance in October 2023.
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Caitlin Mullen/Banking Dive
Bank of America runs 270 AI models across operations
The technology will fuel growth and help curb costs through several use cases, executives said during last week's investor day.
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Permission granted by Thrivent Bank
Thrivent Bank aims to pair advice, digital platform in youth push
The only institution to get an ILC charter application approved during the Biden administration seeks to deliver its parent company’s brand of advice earlier in customers’ lifespans, CEO Brian Milton said.
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Permission granted by SoFi
SoFi relaunches crypto trading
“Today marks a pivotal moment when banking meets crypto in one app, on a trusted platform, and driven by our core mission to help our members get their money right,” CEO Anthony Noto said.
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Atlanta Fed president Bostic to retire in February
The first Black and openly gay regional Fed chief is leaving before the central bank’s board votes to reappoint the presidents of the Fed’s outposts to new five-year terms.
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HSBC waters down interim targets in updated net-zero transition plan
The bank scaled back a range of goals it was pursuing for its sector-specific 2030 targets, citing a global transition that “has progressed at an inconsistent pace.”
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Coinbase fined $24.8M by Irish central bank
The crypto firm found three coding errors in its transaction monitoring system, but that meant the company insufficiently monitored 30 million transfers for AML, fraud and child sex exploitation, the central bank said.
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Gould intent on tackling debanking, tailoring issues
“I hope that when the 33rd comptroller shows up, at some uncertain date in the future, that that person will not blame me for kicking any cans down the road,” Jonathan Gould said in an interview.
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ColumnDive Deposits: Was Waller’s ‘skinny’ account clarification a walk-back?
The Federal Reserve governor set out to clarify that only institutions with a banking charter would be eligible for a tailored master account. Does that jibe with the central bank’s “embrace” of disruption?
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Alamy
M&T eschews the temptation of national presence
The Buffalo, New York-based lender remains focused on dominance in its current markets, said CEO René Jones, expressing some doubt that banks can perform at optimal levels as they expand.
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Alamy
PNC boosts new-branch effort to 300 by 2030
The Pittsburgh-based bank aims to hire 2,000 new employees and open 35 new locations in Nashville and 25 in Chicago.
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Amerant Bank CEO steps down
On an earlier earnings call, now-former CEO Jerry Plush noted nonperforming assets rose to $140 million, from $98 million the previous quarter.
