The Latest
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Cadence Bank to buy Industry Bancshares
Cadence Bank seeks to acquire the six subsidiaries of Industry Bancshares that are under consent orders from the FDIC and the OCC related to the company’s unsafe banking practices and risk management.
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Appeals court backs injunction barring CFPB mass firing
The bureau’s 1,483-person reduction will remain halted through May 16. A three-judge panel walked back language concerning “particularized assessments” of employees’ necessity. One judge dissented.
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Warren, Chopra warn of ‘real price to pay’ on DOGE
The former CFPB director pointed to a rise in uninsured deposits amid recent market turmoil.
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Fired NCUA board members sue Trump
Todd Harper and Tanya Otsuka’s removals were “patently unlawful," the lawsuit claims. Two lawmakers wrote the NCUA’s inspector general Tuesday asking how a one-member NCUA board can operate.
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Permission granted by Huntington Bank
Huntington ahead of schedule on Carolinas expansion, CFO says
The bank has 37 of the 55 branches it plans to open in North and South Carolina under letter of intent for real estate development, Huntington CFO Zach Wasserman said.
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Wells Fargo clears 12th consent order; 2 remain
The 2018 consent order the CFPB lifted is the bank’s sixth to be resolved this year. The two remaining include the Federal Reserve’s asset cap.
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Nexo reenters US market
Co-founder Antoni Trenchev credited the regulatory shift under Trump for the firm’s reemergence in the U.S. Nexo’s exit was preceded by failed regulatory talks and followed by a $45 million SEC fine.
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JPMorgan Chase
JPMorgan Chase CISO warns software industry on supply chain security
In an open letter, Patrick Opet said third-party vendors need to embrace secure development practices over speed to market.
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PNC’s COO is leaving the bank
E. William Parsley’s departure thins the ranks of executives beneath CEO Bill Demchak but may clarify new President Mark Wiedman’s position as a potential successor.
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Permission granted by Eastern Bank
Eastern Bank to broach Rhode Island with $490M HarborOne deal
The transaction, set to close in the fourth quarter, would add 30 locations and $5.7 billion in assets to Eastern. The Boston bank has tended to expand through acquisition every two years.
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Flagstar plans to hire 80 to 90 more commercial bankers this year
The bank reported another quarterly loss, although executives are targeting profitability in the fourth quarter. “We’re going to look like a completely different company when we end the year,” CEO Joseph Otting said.
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Warren grills FDIC’s Hill over DOGE incursion
Four senators argued DOGE’s presence could threaten the $137 billion Deposit Insurance Fund, potentially undermining the FDIC's ability to oversee orderly bank resolutions.
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Fed joins FDIC, OCC in withdrawing crypto-skeptical guidance
The guidance withdrawals “ensure the Board's expectations remain aligned with evolving risks and further support innovation in the banking system,” the Federal Reserve said Thursday.
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Columbia to expand in SoCal with $2B acquisition of Pacific Premier
The Tacoma, Washington-based lender’s Umpqua retail network will change its name to Columbia Bank later this year as part of the deal.
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Caitlin Mullen/Banking Dive
Citizens aggressively reinvests in its existing footprint
While some competitors chase expansion in the Southeast, the Providence, Rhode Island-based lender is redesigning branches to double down on deeper relationships, said Nuno Dos Santos, head of the bank’s retail network.
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CFPB workers’ union rebuts bureau’s job-cut justification
Evidence indicates the bureau didn’t conduct a court-required assessment before attempting to cut about 90% of its staff, and the layoffs would have left CFPB data “irreparably lost,” plaintiffs said.
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Goldman shareholders back $80M packages for Solomon, Waldron
The measure, however, received 66% approval — 20 percentage points lower than last year’s nonbinding advisory vote on executive compensation at the bank.
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Silvergate Bank parent agrees to $37.5M class-action settlement
Silvergate Capital Corp. says that moving forward with the settlement will allow the firm to advance its Chapter 11 proceedings.
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Capital One readies for Discover integration work
With Discover, “we will be going back into the world of data centers” for “a number of years,” Capital One CEO Richard Fairbank said Tuesday.
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Kent Nishimura via Getty Images
Warren presses Bowman on Evolve supervision lapses
Elizabeth Warren and three other senators questioned the Fed governor on her role in the lender’s supervision and accused her of ignoring “clear warning signs … leading up to the Evolve-Synapse meltdown.”
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Coinbase considers applying for federal bank charter
Regulatory willingness to work with crypto seems to have inspired Coinbase, and reportedly others, to engrain themselves deeper into the traditional financial sector.
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MidFlorida Credit Union buys Tallahassee bank
Acquiring Prime Meridian Bank would give MidFlorida a physical presence in the state’s panhandle. It's the credit union’s third bank purchase since 2019.
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Trump backs off his push to fire Fed’s Powell
Less than a week after saying the Federal Reserve chair’s “termination cannot come fast enough,” the president said Tuesday he has “no intention” of ousting the central bank chief.
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FedNow draws 1,300 financial firms
The instant payments service has attracted mostly small and mid-sized financial services firms as it inches up adoption by financial institutions.
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Anna Hrushka/Banking Dive
FDIC aims to reduce workforce by 1,250
An internal memo sent Monday aligns with earlier reports that the Department of Government Efficiency was targeting the FDIC for staff cuts. Cuts at another agency, the CFPB, remain up in the air after a judge blocked them.
