The Latest
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National Bank Holdings to acquire Texas lender for $369M
Acquiring privately held Vista, which has operations in Texas and Florida, would push Denver-based NBH to $12.4 billion in total assets.
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Senators press Fed, OCC, FDIC to defend CRA final rule
Seven Democratic senators urged financial regulators to withdraw their planned rescission of an update to the decades-old anti-redlining rule.
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Plaid to pay for JPMorgan data
Under the agreement between the two companies, the bank will be paid for sharing consumer data with Plaid. Fintech groups excoriated JPMorgan for the new access fees.
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Appeals court keeps Fed’s Cook in place
A three-judge panel voted 2-1 to reject President Donald Trump’s request to uphold his firing of the central bank governor. The majority opinion focused on due process and not mortgage fraud allegations.
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Senate confirms White House adviser Miran to Fed post
Lawmakers voted 48-47 to allow Trump ally Stephen Miran to serve as a governor at the central bank for a term that ends in January. He’ll likely attend an interest rate-setting meeting Tuesday.
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Bank of America sets up post-Moynihan succession race
The bank named Dean Athanasia and Jim DeMare co-presidents, while CFO Alastair Borthwick added executive vice president to his title.
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Lund, Ken. Retrieved from Flickr.
Washington bank sued by hedge fund names next CEO
Curt Queyrouze, most recently president of Coastal Community Bank, was chosen as First Fed’s next CEO, following the resignation of former CEO Matthew Deines in July.
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Michael M. Santiago / Staff via Getty Images
Trump, Cook await appeal ruling ahead of interest-rate vote
A 2021 disclosure indicates the Fed governor intended to use a Georgia residence as a “vacation home,” in what may be a blow to mortgage fraud allegations pushed by the Trump administration.
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Zions CEO eyes acquisition opportunities
The $89 billion-asset regional is “a really good partner” for small banks that “are going to be looking for a home,” its CEO said this week.
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Capital One sues FDIC over ‘outsized’ special assessment
The McLean, Virginia-based lender said the assessment, stemming from the failures of Signature and Silicon Valley Bank, should have been $325 million, not $474.1 million.
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Citi snags AI head from IBM
Shobhit Varshney will help scale AI capabilities at the financial services company, Citi COO Anand Selvakesari said in an internal memo Tuesday.
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Trump appeals Cook ruling
The president asked a three-judge panel to stay a district court’s ruling by Monday, which could sideline the Fed governor ahead of Tuesday’s interest rate-setting meeting.
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Permission granted by Pinnacle Financial Partners
Merger with Synovus isn’t ‘Truist 2.0,’ Pinnacle CEO says
The CEOs of Pinnacle and Synovus sought to assure investors Tuesday that they learned from other recent mergers of equals and sorted out a number of decisions early on.
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TD names next COO, general counsel
The Canadian lender hired its incoming operations chief from HSBC and general counsel from BMO. Meanwhile, a 37-year TD vet will take on a global marketing role.
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CFTC chair nominee says Gemini execs tanked his bid
Brian Quintenz alleges Tyler Winklevoss lobbied President Trump to stall the nomination after the crypto leader received a tepid response regarding a complaint on the agency’s conduct.
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Michael M. Santiago via Getty Images
Fed lifts FedNow limit to $10M
As financial firms flock to instant payments, the Federal Reserve has pitched FedNow as a way to ease internal transfers, corporate payroll and big transactions.
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Courtesy of PNC
PNC CEO: ‘We just effectively bought Colorado’
If PNC finds another acquisition target like FirstBank, “we’d probably do it,” CEO Bill Demchak said Tuesday, adding, “the path to growth is long and curious, and unpredictable.”
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Alamy
Fifth Third replaces BNY as Direct Express partner
The Cincinnati-based lender has been named the bank partner for the prepaid card program. The bank also disclosed “alleged external fraudulent activity” expected to result in a perhaps $200 million impairment charge.
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Javice, in sentencing memo, calls JPMorgan a ‘unique’ victim
Comparing the bank’s annual revenue against the median U.S. household income of $80,610, the Frank co-founder’s lawyer said the bank’s alleged $200 million loss equates proportionately to $58.
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FINRA charges former Synapse execs
Former Synapse Brokerage CEO Jeffrey Stanley allegedly “failed to reasonably supervise” his company’s cash management program. Former Compliance Chief Mark Paverman is also accused of lying to FINRA.
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Minnesota’s Bremer Bank to lay off 244 after sale to Old National
The employee reductions will go into effect in October and November, according to a WARN notice filed with the state. Old National’s acquisition of Bremer closed May 1.
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Win McNamee via Getty Images
Senate panel approves Fed nominee Miran
Lawmakers voted 13-11 along party lines to tee up a confirmation vote Monday by the full Senate, according to Bloomberg.
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Michael M. Santiago / Staff via Getty Images
Judge blocks Trump from firing Fed’s Cook
The ruling likely allows the central bank governor to participate in an interest rate-setting meeting next week.
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Courtesy of Comerica
Comerica CEO pledges improvements amid activist pressure
Executives for the Dallas-based regional are “taking a hard look at expenses” as they work to improve the bank’s efficiency, CEO Curt Farmer said Tuesday.
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OCC to consider debanking in CRA ratings, bank licensing
Comptroller of the Currency Jonathan Gould said in March he’d “shine a spotlight” on debanking. His agency now plans to keep it in mind amid CRA evaluations and licensing.
