The Latest

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    Chime won’t rule out bank charter pursuit, COO says

    The fintech, which went public in June, periodically evaluates whether obtaining a bank charter makes more sense than relying on bank partners to offer its services to consumers, COO Mark Troughton said.

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    Sponsored by Amazon Ads

    Trust by numbers: The insight-driven guide to loyalty in banking and payments

    Insights that help financial providers build trust where it matters most.

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    Spencer Platt / Staff via Getty Images
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    Column

    Dive Deposits: In a down year for diversity, Citi’s reputation is at stake

    The bank named a relatively sparse class of new managing directors. Its proportion of women is virtually the same as last year’s – even amid a de-emphasis on DEI. But the bank isn’t outpacing its peers, either.

  • Sen. Elizabeth Warren (D-MA) speaks during a Senate Banking, Housing, and Urban Affairs committee hearing on January 11, 2024 in Washington, DC.
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    Kent Nishimura via Getty Images
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    Senate Democrats press credit unions on overdraft, NSF fees

    Sens. Elizabeth Warren, Cory Booker and Richard Blumenthal seek answers from 21 credit unions on their overdraft programs by Dec. 14.

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    Lubbock bank to buy Houston lender for $106M

    Acquiring the holding company for Bank of Houston would give $4.4 billion-asset South Plains Financial an additional $772 million in assets and bolster its footprint in the Houston area.

  • Michelle Bowman speaks at an April 2024 event
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    (2024). [Photo]. Retrieved from Federal Reserve.
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    Bank regulators testify on Trump-era ‘tailoring’

    The Federal Reserve’s vice chair for supervision vowed, in testimony to House lawmakers Tuesday, not to “reverse-engineer” changes to capital requirements to fit preconceived notions.

  • A round sign features HSBC's lettering and logo.
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    Matt Cardy/Getty via Getty Images
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    HSBC names interim chair to role permanently

    The move comes a day after CEO Georges Elhedery downplayed the likelihood that 76-year-old KPMG alum Brendan Nelson would serve long-term.

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    simarik via Getty Images
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    Kraken to buy tokenized equities firm Backed

    Terms of the deal are undisclosed, but the acquisition is the crypto firm’s fifth of the year.

  • An Apple Wallet symbol is seen on a black screen, with a fingertip hovering above it.
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    Thomas Trutschel/Picture-Alliance/DPA/AP

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    Digital wallet use outpaces regulators

    Consumers are increasingly turning to these mobile tools for convenience and new features. But are regulators keeping pace?

  • binance apps on phone
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    Michael M. Santiago / Staff via Getty Images
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    Binance names co-founder as co-CEO

    Yi He co-founded the firm with Changpeng Zhao, her life partner and Binance’s former CEO, in 2017.

  • A newer PNC branch is shown, with "PNC" signage on the exterior of the building.
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    Courtesy of PNC
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    PNC wants human-level quality in its digital experience

    The Pittsburgh-based lender aims to launch its new mobile app in the first half of next year, said Alex Overstrom, the super-regional’s head of retail banking.

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    Dan Kitwood via Getty Images
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    Biden admin made ‘coordinated attack’ on crypto: House Republicans

    Uniswap CEO Hayden Adams, Ripple CEO Brad Garlinghouse and Gemini co-founder Tyler Winklevoss were all, at different points, debanked, a House committee investigation found.

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    Canada’s Laurentian Bank splits off its commercial, retail ops

    National Bank of Canada will acquire the Montreal lender’s retail presence and Laurentian’s Québec branches will close. Fairstone Bank will buy Laurentian’s commercial lending for $1.4 billion.

  • The interior of an Associated Bank branch shows chair seating, green balloons on table, and other elements of the bank branch.
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    Courtesy of Associated Bank
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    Associated Bank to buy Nebraska lender for $604M

    The acquisition would give the Green Bay, Wisconsin-based bank entry into Omaha, along with the No. 2 deposit share in that market.

  • A sign reading Goldman Sachs is seen on a wood-grained wall.
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    Michael M. Santiago via Getty Images
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    Goldman to buy Innovator Capital Management for $2B

    The deal positions Goldman Sachs Asset Management as a top ten active ETF provider globally, according to data from Morningstar Direct.

  • A view of the exterior of The Morgan Stanley Headquarters
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    Michael Lawrence via Getty Images
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    Morgan Stanley to pay $117.4M to resolve Dutch tax case

    An Amsterdam subsidiary of the bank bought Dutch-listed shares for short periods, illegally offset dividend withholdings and intentionally filed false tax returns, a public prosecutor’s office said.

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    Lisa Maree Williams via Getty Images
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    Australian bank nabs Lloyds data chief to lead AI

    Ranil Boteju will return to the Commonwealth Bank of Australia as its chief AI officer to advance the financial services firm’s strategy.

  • A glass office building with the word "Pinnacle" and its logo on the exterior is seen from high above Nashville's downtown.
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    Permission granted by Pinnacle Financial Partners
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    Fed approves Pinnacle, Synovus merger

    The central bank’s sign-off, combined with shareholders’ approval this month, has the Southeastern banks projecting a Jan. 1 close for their merger of equals.

  • The Federal Deposit Insurance Corp. name and logo are shown on the exterior of a building.
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    FDIC, OCC, Fed solidify eSLR changes

    Regulators finalized a rule cutting capital requirements for the nation’s biggest banks – and proposed a separate trim for community lenders.

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    Courtesy of Green Dot
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    Green Dot inks deals splitting bank, fintech business

    The company, which had been exploring “strategic alternatives” since March, will sell its fintech business to a private equity firm and its bank to a $840 million-asset lender.

  • Revolut card with logo
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    Courtesy of Revolut Press Kit
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    Revolut valued at $75B

    The new valuation comes after the U.K. fintech’s fifth share sale, and just 15 months after Revolut was valued at $45 billion.

  • Comerica signage is seen on the exterior of a building
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    Comerica, Fifth Third sued by activist investor

    HoldCo accused Comerica’s CEO of being “focused solely on advancing his own interests” based on the “rushed” way the bank’s proposed deal with Fifth Third came together.

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    Fulton Financial to buy NJ’s Blue Foundry in $243M deal

    The deal comes 18 months after Fulton acquired failed Republic First Bank’s assets, which gave the Pennsylvania-based lender several Garden State locations.

  • CFPB open banking banks Russell Vought fintechs Trump cryptocurrency
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    MoneyLion to pay $1.75M to settle CFPB lawsuit

    The bureau in 2022 alleged the fintech illegally charged an interest rate that exceeds the 36% cap on loans to service members.

  • U.S. Bank executive Dee O'Dell poses in front of a U.S. Bank branch
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    U.S. Bank hires up for greater Southeast growth

    The Minneapolis-based super-regional is adding bankers in some areas where it doesn’t have branches and eyeing further growth in SBA lending, an executive said.

  • The Office of the Comptroller of the Currency logo
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    VALT Bank applies for de novo charter

    Former U.S. Bank executive Matt Gediman said the de novo’s model is “designed to support [SMBs] by making banking uncomplicated, accessible, and integrated with digital tools to run their businesses more efficiently.”