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    Jack Taylor / Stringer via Getty Images

    Gemini cutting another 10% of staff: report

    The crypto exchange has been affected by Genesis' bankruptcy and the FTX contagion.

  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    Big banks to launch digital wallet operated by Zelle parent: report

    The wallet, which is expected to launch in the second half of the year, aims to compete with PayPal and Apple, sources told The Wall Street Journal. But serious competition may take a while, an analyst said.

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    Davis Turner/Stringer via Getty Images

    FDIC, BofA go to court in deposit insurance battle

    The regulator, which claims Bank of America owes $1.1 billion in deposit insurance payments, first filed the suit in 2017.

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    Dan Kitwood via Getty Images

    FTX-connected Farmington State Bank retreats from crypto, cannabis

    The bank will also stop using the Moonstone Bank brand it developed for such “innovation-driven” pursuits, it said.

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    Mario Tama via Getty Images

    Morgan Stanley cuts CEO Gorman’s pay by 10% to $31.5M

    The cut comes after a year that saw the bank’s profit and return on tangible common equity return to 2020 levels. David Solomon can become banking’s highest-paid CEO if Goldman Sachs pays him the same as it did in 2021.

  • An American flag flies in front of the Capital One logo at the bank's headquarters.
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    Win McNamee via Getty Images

    Capital One cuts 1,100 tech jobs

    The cuts affect employees in the bank’s “agile” job family. Responsibilities associated with the eliminated positions will be folded into existing engineering and product manager roles, Capital One said.

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    Alex Wroblewski via Getty Images

    JPMorgan Chase keeps CEO Dimon’s pay steady at $34.5M

    The bank agreed not to grant Dimon any “special awards” in the future — a nod to a $52.6 million share-options package that drew strong shareholder blowback last year.

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    Sitthiphong via Getty Images

    Webster Bank CIO tapped to become Payoneer’s next CFO

    Bea Ordonez joined the company last week, with the expectation that she would succeed Payoneer CFO Michael Levine, who is stepping down in March.

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    Just_Super via Getty Images

    Crypto lender Nexo to pay $45M in SEC settlement

    Nexo said last month it would cease U.S. operations after hitting a “dead end” in talks with regulators. One of company’s founders Thursday said he is “confident that a clearer regulatory landscape will emerge soon.”

  • Bank of America CEO Brian Moynihan moderates a discussion while seated onstage.
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    Drew Angerer via Getty Images

    Bank of America institutes partial hiring freeze: report

    The bank does not have plans for widespread job cuts, a spokesperson said, but will hold off on bringing in new hires until at least midyear or until the economy improves.

  • Deep Dive

    ESG debate escalates as GOP goes after influencers

    Twenty-one Republican attorneys general argue proxy advisers ISS and Glass Lewis' shareholder voting recommendations on climate policy and board diversity violate their duty to investors.

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    da-kuk via Getty Images

    Genesis prepping to file bankruptcy: report

    If the lending arm of Digital Currency Group is unable to come to an agreement with creditor groups, it is poised to become the latest in a series of crypto sector bankruptcies, Bloomberg reported.

  • OCC Acting Comptroller Michael Hsu testifies in front of the Senate Banking Committee on Aug. 3, 2021
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    Retrieved from Senate Banking Committee.

    ‘Too-big-to-manage’ banks could be broken up, OCC says

    The size and complexity of a bank is the core problem, not “the weaknesses of its systems and processes or the unwillingness or incompetence of its senior leaders,” Acting Comptroller Michael Hsu said.

  • Office workstation top view of business people working around M&A, keyboard, calculator, phablet and money on wooden table
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    Atstock Productions via Getty Images

    Fintech wreckage spells opportunity for bargain-hunting banks

    Following a challenging year for the fintech sector, enterprising banks may be able to acquire startups whose previous valuations put them out of reach in prior years, said Klaros Group’s Jonah Crane.

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    iStock/Getty via Getty Images

    Fed, OCC approve BMO’s $16.3B Bank of the West acquisition

    The tie-up, expected to close Feb. 1, could be an early test of the central bank's proposal to revamp capital requirements for banks with $250 billion to $700 billion in assets.

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    Ramp

    Grasshopper, Ramp partner on small-business corporate card

    The New York City-based digital bank will offer its customers access to Ramp’s spend management tool to help maximize savings and cut expenditures.

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    crbellette via Getty Images

    Fed lays out details of its climate pilot

    The nation's six largest banks have until July 31 to analyze the impact two natural disasters would have on real estate lending portfolios, and factor in changing sentiment regarding climate change.

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    Mario Tama via Getty Images

    Why Citi expects to see more of its less productive workers

    Less productive workers can expect to come into the office to get “coaching they need until they bring the productivity back up again,” CEO Jane Fraser told Bloomberg.

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    saiko3p via Getty Images

    CEO of bank software firm Temenos steps down

    Max Chuard’s departure follows a drop in earnings, and comes amid pressure from activist investors who claimed the executive was "far out of his depth."

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    Jack Taylor / Stringer via Getty Images

    Three Arrows, CoinFlex founders eye new exchange to help FTX victims

    The entrepreneurs aim to raise $25 million for an effort to let depositors transfer claims caught up in bankruptcy for a new token. The exchange’s placeholder name, GTX, saw considerable backlash on Twitter.

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    LendingClub

    LendingClub to cut 225 employees

    The fintech, which has a bank charter from its 2020 acquisition of Radius Bank, noted “reduced marketplace revenue” in the wake of last year’s series of interest rate increases by the Federal Reserve.

  • A person walks into BNY Mellon's headquarters in New York City.
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    Mario Tama / Staff via Getty Images

    BNY Mellon to lay off 1,500 employees this year

    The cuts will largely target management positions, a source told The Wall Street Journal. CEO Robin Vince, meanwhile, reiterated the bank's commitment to digital assets.

  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images

    Goldman details $3B in losses since 2020

    The bank's Platform Services unit, housing Apple Card, GreenSky and some Marcus business, lost nearly twice as much in 2022's first nine months as in 2020. Goldman reports earnings Tuesday.

  • Fifth Third closing 23 branches

    The bank is concentrating its consolidation in the Midwest but says it aims to open 30 to 35 branches this year. The move comes during a week when Fifth Third launched early tax refund access to some account holders.

  • A picture of Merrick Garland standing in front of an American flag
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    Drew Angerer/Getty Images via Getty Images

    City National Bank to pay $31M redlining settlement

    The Royal Bank of Canada subsidiary avoided providing mortgage lending services to majority-Black and Hispanic neighborhoods in Los Angeles County from 2017 to at least 2020, the Justice Department alleged.