The Latest

  • Neobank CHime, banking products Chime
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    Permission granted by Chime
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    Chime files for IPO

    Chime submitted its paperwork to go public Tuesday in a widely expected move, stressing that it “is a technology company, not a bank.”

  • The letters AI on a digital block
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    BlackJack3D via Getty Images
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    Generative AI may shoulder up to 40% of workload, some bank execs predict

    Six in 10 bank executives list generative AI as a top investment priority this year, according to a survey published in April by KPMG.

  • A building is shown with a sign that reads, "Comerica Bank" in the foreground
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    Courtesy of Comerica
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    Comerica risk chief heads to USAA

    Brian Goldman, who’s been Comerica’s chief risk officer for about a year and a half, will leave to take the same role at USAA, effective May 27.

  • Stock Trading Platform Robinhood Goes Public On The New York Stock Exchange
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    Spencer Platt / Staff via Getty Images
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    Robinhood to buy WonderFi for $179M

    The deal pushes Robinhood deeper into the Canadian market after the fintech opened its Canadian HQ in Toronto last year.

  • Russ Vought OMB Trump spending
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    Andrew Harnik via Getty Images
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    CFPB seeks to rescind registry of nonbank repeat offenders

    The NBR rule is “not necessary as a tool to effectively monitor and reduce potential risks to consumers from bad actors,” according to Acting Director Russ Vought.

  • cards credit GSA fintech Ramp government politics
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    valiantsin suprunovich via Getty Images
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    Lawmaker seeks probe into Ramp’s bid for $25M GSA contract

    Rep. Gerry Connolly, D-VA, is looking into the GSA’s contractor selection process to work on the SmartPay program, alleging an agency employee called the fintech the “favorite” to win the contract.

  • customers sit and talk or play on their cell phones in a bank of america financial center lobby
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    Courtesy of Bank of America
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    Bank of America to open 150 locations through 2027

    Forty are anticipated to open by year’s end. All in, the bank has invested more than $5 billion across its branch footprint since 2016.

  • "BNP Paribas" is seen on a sign on a building as a person walks by in the background.
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    Matt Cardy / Stringer via Getty Images
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    BNP Paribas shareholders approve higher age limit for CEO

    The French bank’s investors Tuesday backed moves to allow 63-year-old Jean-Laurent Bonnafé and 74-year-old Jean Lemierre to remain in the chief executive and board chair roles longer.

  • The entrance to the Consumer Financial Protection Bureau headquarters is seen, with the bureau's logo on a glass door.
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    Anna Moneymaker / Staff via Getty Images
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    CFPB rescinds 67 pieces of guidance

    The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.

  • Brian Bernard, Morningside, HVAC, Carrier, Trane, tariffs
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    Andrew Harnik via Getty Images
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    Trump signs resolution to nix CFPB overdraft rule

    The move overturns the bureau’s effort to cap overdraft fees at $5. The American Bankers Association also dropped its lawsuit regarding the rule.

  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
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    Justin Sullivan / Staff via Getty Images
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    Ex-Wells exec sues Fed for deferred compensation

    James Richards’ restricted share rights were denied in March, arguably over Wells Fargo’s “troubled condition” and whether the annual awards were “golden handcuffs” or a “golden parachute.” 

  • Jonathan McKernan speaks and gestures during a Congressional hearing. A screen in the background also shows him speaking.
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    Kayla Bartkowski / Staff via Getty Images
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    Trump to scrap McKernan’s CFPB nod for Treasury post

    Jonathan McKernan’s nomination to lead the CFPB had been awaiting Senate confirmation. Instead, the president will nominate him to serve in a Treasury Department role.

  • Marqeta embedded finance Block
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    innni via Getty Images
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    Q&A

    Marqeta chief focuses on revenue diversity, execution

    Interim CEO Mike Milotich wants to boost the processor’s non-Block revenue and expand its embedded finance offerings via a new mobile app for customers.

  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Capital One asks judge to toss Trump de-banking lawsuit

    The Trump Organization’s “generalized allegations” of politically motivated de-banking don’t hold up and its claims lack “factual or legal support,” the bank said Wednesday.

  • ripple
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    Jack Taylor via Getty Images
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    Ripple would get $75M back under SEC settlement

    The agreement must get sign-off from a federal judge, among other next steps. A Democratic commissioner at the SEC, however, said the deal would mark a “tremendous disservice” to the law.

  • alex mashinsky former celsius ceo
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    The image by Piaras Ă“ MĂ­dheach/Web Summit via Sportsfile is licensed under CC BY 2.0
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    Celsius founder gets 12 years in prison

    Alex Mashinsky misrepresented Celsius’ business and financial position to woo customers into “unbanking themselves,” and then manipulated Celsius’ native token to enrich himself, the DOJ said.

  • coinbase logo with coins stacked in front of it
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    Justin Sullivan via Getty Images
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    Coinbase to buy options exchange Deribit in $2.9B deal

    The transaction – the crypto sphere’s largest of the year – positions Coinbase to boost its international foothold and diversify its trading revenue.

  • Bitcoin sitting on dollar bills
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    Dan Kitwood via Getty Images
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    Stablecoin bill falters in Senate

    Democrats demanded fixes to the GENIUS Act – designed to create a framework for bringing stablecoins into the U.S. financial system – and raised concerns about Trump’s ties with crypto ventures.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency
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    Senate votes to overturn OCC ban on expedited merger review

    A similar resolution pending in the House would reverse a rule toughening the approval process – just as opponents of the Capital One-Discover deal say the green light came too easily. 

  • Scott Bessent, secretary of the Treasury Department, speaks into a microphone while gesturing with his hands, with blurred onlookers in the background.
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    Pete Marovich / Stringer via Getty Images
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    Lawmakers press Bessent on CDFI cuts

    “If CDFIs follow their statutory obligations and do not digress into more ideological boundaries ... they can be important institutions,” the Treasury secretary told legislators Wednesday.

  • Wall Street sign with U.S. flags in background
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    lucky-photographer via Getty Images
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    Wall Street bonuses to drop amid market volatility, consultant finds

    Bonuses in equity underwriting are predicted to plunge up to 20% as firms in the initial public offering market take a “wait and see” approach, Johnson Associates said. 

  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Santander closing 18 US branches by August

    Six of the locations are in Massachusetts, along with four each in New Jersey and Pennsylvania, two in New York and one each in New Hampshire and Rhode Island. The bank is leaning into its digital platform.

  • cryptocurrency graphic
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    Dan Kitwood via Getty Images
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    Maxine Waters walks out of digital asset hearing

    House Democrats’ walkout blocked the hearing from taking place. They cited concerns over the president’s and his family’s ties to digital asset businesses. 

  • neon green etoro sign on black background in miami
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    Aaron Davidson via Getty Images
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    eToro seeks to raise $500M through IPO

    The investment fintech, targeting a $4 billion valuation, is expected to launch on the Nasdaq index May 14.

  • Michelle Bowman speaks at an April 2024 event
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    (2024). [Photo]. Retrieved from Federal Reserve.
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    Bowman nod for Fed supervision czar advances to full Senate

    The Senate Banking Committee voted 13-11 along party lines to pass the nomination to the full chamber. A key Democrat reiterated her concerns over Bowman’s stance on tariffs, mergers and climate.