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‘New Citi’ makes its pitch

Bank executives sought to convey just how far Citi has come in recent years and how its growth plans will drive higher returns. Executing on the strategy could prove “challenging,” an analyst noted.

Failed Oklahoma bank’s ex-CEO pleads guilty to bank fraud

Danny Seibel faces up to 30 years in prison and a fine of up to $1 million.

Kraken parent boosts card capabilities in $600M Reap acquisition

The deal, set to close in the second half of this year, opens Payward’s pathway to the Asia-Pacific region.

How Chime overcame trust challenges when deploying its AI agent

Customer satisfaction rose after the fintech deployed Jade. “Automation and cost savings don’t need to come at the expense of a great experience,” COO Janelle Sallenave said.

U.S. Bank takes ‘quieter’ approach to branch expansion

The bank is prioritizing branch density and working to fix “unevenness” across its 26-state footprint. But it hasn’t committed to a specific number of branch builds.

Dive Deposits: Citi prepares for a small-t transition

After a massive reorg, a tech revamp and exits from a dozen foreign markets, an updated target for return on tangible common equity may feel “underwhelming.” But Citi may be embracing incremental change.

Banking’s biggest names are talking about Mythos

The Federal Reserve is considering effective supervisory approaches for Anthropic’s emerging AI model. JPMorgan Chase CEO Jamie Dimon said he thinks people need a chance to assess and mitigate its risks.

Fed to launch roundtable to fight payment fraud

The Federal Reserve sees a rising threat of payment fraud and wants to collaborate with other agencies to stop it, a Fed vice chair said.

Anthropic deepens push into financial services

The AI provider is developing industry-specific tools for finance and partnering with investors to gain an edge in middle-market enterprise tech adoption.

M&T takes ‘patient’ approach to M&A, CFO says

The Buffalo, New York-based regional has “a specific number of candidates that we're talking to” but an acquisition “will happen when it happens,” M&T CFO Daryl Bible said Tuesday.

Banks, crypto firms battle over stablecoin yield

A compromise from two senators is reigniting debate over how far a ban on rewards for stablecoin holdings should extend.

Hacktivist group stole Chime customer information, lawsuits allege

Three separate lawsuits allege that a hacker group known as Team 313 stole personal information from Chime customers when it attacked the fintech’s systems April 1.

Cambridge Savings Bank expands into NH in $80.9M deal

Buying First Seacoast Bank will add five branches to the $7 billion-asset Massachusetts lender, and give Cambridge nearly $600 million in extra assets.

JPMorgan vet wants to bolster ‘trusted adviser’ mindset

Ed Pyne, named head of syndicated finance for JPMorgan commercial banking in March, said he wants to “connect the dots” for clients – beyond the product being discussed.

Citizens Bank customers pull money over lender’s ICE ties

Nonprofit organizations and individual customers are pushing back against Citizens' relationships to two ICE detention center operators.

Florida bank acquires failed Georgia lender’s deposits

Community Bank & Trust - West Georgia, which received a Federal Reserve enforcement action last month, was closed by state regulators Friday, marking the second bank failure of the year.

Florida’s BayFirst makes a switch at CEO

The bank named Tampa banking veteran Al Rogers as its top executive amid an $80 million capital raise and a reinforced commitment to community banking.

Citi launches Arc to scale AI agents across the business

The bank is looking to the technology to automate manual tasks such as research and data analysis.

Washington bank Banner to buy Pacific Financial for $177M

The deal, expected to close in the third quarter, will result in a combined entity with $18 billion in assets.

Citi adds AI-powered adviser in wealth unit

Discussions are underway to use the agentic AI tool more broadly across the bank, “especially with the credit card business,” said Joe Bonanno, head of wealth intelligence at Citi.

CFPB slims small-business borrower data collection rule

The rule, set to take effect in 2028, narrows back to 13 the number of data points collected and raises the lending threshold to a level that spares most small financial institutions.

Indiana credit union to buy Ohio bank

Interra Credit Union’s purchase of The Hicksville Bank – the fourth whole-bank acquisition by a credit union announced this year – would expand the credit union’s footprint into northeast Indiana and northwest Ohio.

Fintech OppFi to buy Arizona bank for $130M

The Chicago-based subprime lender said pairing its online platform with BNC’s national bank charter lets it offer more banking services on a broader scale.

‘We are a new banking desert’: Oregon bank group CEO

A tax credit, set to take effect in June, aims to stimulate de novo activity in the state, which hasn’t chartered a new bank since 2007.

Ex-M&T employee alleges discrimination over gender, sexual orientation

An ex-vice president and commercial branch manager based in Long Island alleges she was “treated as a secondclass citizen” by her boss for being a gay woman.