Page 3

Wells Fargo CEO: AI’s effect on employment is ‘complicated’

The bank's biggest AI-related challenge is determining how the technology can transform its business model and how the lender should respond, Charlie Scharf said Wednesday.

CFPB faces lawsuit over fair housing rule change

The agency’s final rule amending how the Equal Credit Opportunity Act is applied “effectively guts” fair lending protections, according to four plaintiffs.

CFTC asks judge to vacate $5M Gemini penalty

A onetime CFTC chair nominee alleged Gemini’s founders grilled him on the case, then lobbied the White House to stall his nomination.

JPMorgan CEO: AI may create things ‘we’re going to lose at’

Jamie Dimon also indicated Wednesday the top U.S. bank is “on the lookout” for acquisitions and sees “a chance to put $10 [billion] or $20 billion to work buying something.”

OCC cites AML deficiencies at NY bank that partners with fintechs

New York City-based Community Federal Savings Bank, a partner to Wise and Crypto.com, faces an enforcement action over what the regulator deemed an inadequate suspicious activity alert system.

LendingClub CEO expects ‘skinned knees’ amid fintech charter rush

Fintechs that want to become banks should brace for “a learning curve” as they ramp up governance, risk and compliance infrastructure, said LendingClub CEO Scott Sanborn.

California judge rules in favor of OppFi, against regulator

A judge ruled that OppFi sufficiently demonstrated that its banking partner was the true lender of OppLoans, and that their relationship wasn’t a “rent-a-bank ruse.”

Coinbase rolls out refreshed direct-deposit feature

The crypto exchange raised its ceiling on deposit limits, but the Clarity Act’s restrictions on passive stablecoin earnings may present a challenge.

Goldman chief of staff to leave bank in June

Russell Horwitz, a nearly two-decade alum of the bank, will become an advisory director once he departs, according to a memo.

Regions to pay DOJ $4.9M over PPP loan allegations

Although it disagreed with the claims, the bank said it settled with the Justice Department this month “with the goal of closing this chapter and moving on.”

Wells Fargo’s $85M ‘sham’ diversity settlement gets judge’s approval

The bank a week earlier agreed to pay $110 million to resolve a class-action lawsuit related to similar issues.

Fed, FDIC give green light to biggest US banks’ living wills

JPMorgan Chase, Bank of America, Citi and Goldman Sachs, additionally, have “adequately addressed” shortcomings found in the banks’ previous emergency wind-down plans, the agencies said Friday.

Morgan Stanley exemption comes under fire

Sen. Elizabeth Warren, D-MA, asked three regulators to revoke their approval of a Morgan Stanley restructuring, drawing parallels to scandals that engulfed JPMorgan Chase and Citi.

Goldman Sachs to pay shareholders $500M in 1MDB settlement

“The settlement ⁠is an outstanding result for the class,” attorneys for Sjunde AP-Fonden, a Swedish pension fund, wrote in the filing.

CFPB erases pre-Trump 2.0 history

The consumer watchdog eliminated dozens of press releases, speeches and public statements Tuesday, all of which were published before February 2025.

OCC’s Gould justifies conditional trust charter approvals

“We don’t have a zero risk tolerance anymore,” the comptroller said at an event May 20, adding that “a reasonable chance of success” is “how we evaluate applications.”

StanChart CEO apologizes over ‘lower-value human capital’ comment

CEOs from JPMorgan Chase, HSBC and Barclays added their takes to polarizing remarks by StanChart chief Bill Winters, in explaining his bank's increasing embrace of AI.

Updated May 22, 2026

Regulators float changes to CAMELS ratings

The move to revamp the bank ratings framework for the first time in 30 years continues Trump-appointed bank regulators’ efforts to concentrate supervision on material financial risk.

Flagstar extends CEO Otting’s tenure but sets up succession race

The bank named CFO Lee Smith and commercial- and private-banking chief Richard Raffetto as co-presidents but is keeping Joseph Otting at the helm until March 2028.

Wells Fargo agrees to $110M lending, hiring discrimination settlement

The bank’s borrower assistance fund “represents a meaningful step toward expanding equitable access to financial services,” a judge wrote.

Chime CEO: Pursuing bank charter is ‘a when, not if’

The fintech regularly reevaluates the potential timing of an inevitable push for a charter, Chime CEO Chris Britt said Monday, as regulators see an influx of applications.

StanChart eyes more than 7,800 job cuts by 2030 in AI embrace

The London bank aims to boost income per employee by 20% – and will reduce risk management, compliance and HR roles as part of that effort.

Ally sharpens branchless banking message

The digital bank is courting millennial and Gen Z customers with a new brand platform that arguably throws playful shade on the brick-and-mortar model.

Hancock Whitney to buy Orlando-area bank for $377.6M

The Mississippi lender will acquire One Florida Bank, stretching its presence in the central part of the Sunshine State.

PNC snags JPMorgan vet to lead retail bank’s product, digital

Tim Ferriter joins the Pittsburgh-based bank after an 18-year tenure at JPMorgan.