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  • Sen. Ted Cruz, wearing a blue suit, adjusts his tie while he speaks.
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    Drew Angerer via Getty Images
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    Cruz reignites effort to defund CFPB

    Sen. Ted Cruz, R-TX, introduced a bill (again) to that effect Wednesday, calling the agency “unelected” and “unaccountable” and its regulations “burdensome and harmful.”

  • 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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    Wells Fargo investment bank co-CEO to retire

    Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

  • Jerome Powell
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    Eugene Gologursky via Getty Images
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    Column

    Dive Deposits: Trump picks the most public moments to knock luminaries

    The president bashed Jerome Powell on inflation less than two hours after the Fed chair announced interest rates would stay put. As Bank of America CEO Brian Moynihan may attest, Trump’s timing is not coincidental.

  • A JPMorgan Chase logo stands in front of a building on a city street.
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    subman via Getty Images
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    How JPMorgan Chase’s infrastructure chief keeps the AI engine humming

    The bank is sourcing some resources five to 10 years out, said Darrin Alves, CIO of infrastructure platforms.

  • regions bank
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    Permission granted by Regions Bank
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    USAA sues Regions over mobile deposit tech

    The complaint furthers USAA’s long history of court battles with banks such as Wells Fargo and PNC over patent disputes. Truist and Discover more recently signed licensing agreements to resolve rifts.

  • Frost Bank skyscraper
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    Frost Bank exec: AI to usher in simpler mobile banking era

    As bank apps stuffed with features have become complicated, AI will enable apps to become smarter and more customized for customers, said Jimmy Stead, the lender’s consumer banking and technology chief.

  • Donald Trump speaks at a podium.
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    Chip Somodevilla via Getty Images
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    Trump media firm aims to launch fintech brand this year

    The company wants to develop “American First” investment vehicles with funding of up to $250 million to be custodied by Charles Schwab, it said Wednesday.

  • The HSBC sign and logo pictured outside a bank branch.
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    Matt Cardy via Getty Images
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    HSBC sunsets year-old app Zing

    The money transfer app, launched with initial plans to compete in the U.K. with fintechs like Wise and Remitly, will be closed “following a strategic review,” the bank said. 

  • A close-up shot of Donald Trump in the Oval Office.
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    Anna Moneymaker via Getty Images
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    Fintechs may gain at banks’ expense in Trump era

    The Trump administration may usher in policies that buttress the aspirations of new entrant payments players and increase competition for banks.

  • Bank sign
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    Courtesy of U.S. Bank
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    U.S. Bank’s Kedia to become CEO in April

    The super-regional lender’s president, Gunjan Kedia, will become the second woman leading a top-10 American bank when she replaces Andy Cecere on April 15.

  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi’s private-bank chief is leaving

    Ida Liu, an 18-year veteran of the bank, did not detail her future plans. Citi eliminated her post and will instead have four regional private-banking chiefs.

  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Wells Fargo released from 2022 CFPB consent order

    The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

  • CFPB Director Rohit Chopra
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    Kent Nishimura / Stringer via Getty Images
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    Chopra urges regulatory action to confront de-banking

    The CFPB director faulted the lack of transparency around bank decisions to close accounts and said it’s worth exploring what appeal rights customers could be entitled to.

  • A bespeckled man walks in front of M7T Bank in Brooklyn, NY.
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    Spencer Platt via Getty Images
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    M&T Bank names new risk chief

    Neeraj Singh was most recently CRO at USAA, and previously held risk management positions at Citi, TD and Barclays.

  • Rohit Chopra looks just off camera as someone else speaks.
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    Drew Angerer / Staff via Getty Images
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    Deep Dive

    Ousting the CFPB’s Chopra wasn’t a ‘day one’ priority

    The Trump administration has issued dozens of executive orders, but change to banking regulations and agency leaders isn’t going to be quick, analysts say.

  • An aerial shot of Wheeling, West Virginia shows buildings, a river and a bridge
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    Jacob Boomsma via Getty Images
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    A nearly $1B bank deal is one approval away

    The FDIC has signed off on WesBanco’s bid to acquire Youngstown, Ohio-based Premier Bank. The merger awaits approval from the Federal Reserve.

  • jamie dimon
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    Win McNamee via Getty Images
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    While Trump’s anti-DEI executive orders pile up, Jamie Dimon doesn’t flinch

    In response to activists’ anti-DEI efforts against his company, the JPMorgan Chase CEO said to “bring them on.”

  • Ken Paxton shakes Donald Trump's hand at a campaign rally
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    Brandon Bell via Getty Images
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    State AGs threaten financial institutions over ESG, DEI policies

    JPMorgan Chase, Bank of America, Citi, Goldman Sachs, Morgan Stanley and BlackRock were all asked about how they plan to implement or have implemented hiring or supplier diversity goals.

  • Citibank and HSBC headquarters building at Canary Wharf on November 12, 2014 in London, England.
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    Peter Macdiarmid / Staff via Getty Images
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    Banks fire up coding assistants as AI costs plummet

    “Generative AI is going to impact every function within a bank — every single part of the job,” said Michael Abbott, Accenture's global banking lead.

  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images
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    Judge deals SEC, Kraken partial wins in ongoing case

    Kraken and the Securities and Exchange Commission both secured partial victories in a ruling about what defenses Kraken can use in the ongoing case between the two.

  • middesk
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    Middesk seeks to remove friction from know-your-business processes

    “Good businesses [are] put through the ringer ... largely because the infrastructure to help a bank understand who that customer is has just been really bad,” said founder Kyle Mack.

  • Bank of America CEO Brian Moynihan speaks during a Congressional hearing, with people in the background behind him
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    Win McNamee / Staff via Getty Images
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    Trump accuses Bank of America of political de-banking

    The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

  • Green and white signage on the exterior of a building reads "TD Bank."
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    Spencer Platt / Staff via Getty Images
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    TD names next AML chief

    Jacqueline Sanjuas joined the bank last year, months before the Justice Department made public its investigation into TD’s anti-money laundering issues.

  • Jamie Dimon, the CEO of JPMorgan Chase bank, talks and holds his hands out in front of him.
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    Kevin Dietsch / Staff via Getty Images
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    JPMorgan raises Dimon’s pay to $39M in 2024

    The 8.3% boost in compensation – after JPMorgan reported record profit – puts Dimon’s pay on par with that of Goldman Sachs CEO David Solomon. 

  • President Donald Trump , seated wearing a dark suit, holds up typed order with his signature on it.
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    Christopher Furlong via Getty Images
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    Trump order embraces stablecoins, bars CBDCs

    President Donald Trump issued a “digital financial technology” executive order Thursday backing the cryptocurrency industry and terminating any federal work on a central bank digital currency.