How Bank of America’s Erica raised the stakes for virtual assistants

“A big area of focus for us was: How can we find that balance between the AI support and the human support that Bank of America is known for?” said Jorge Camargo, head of digital platforms.

4 Jackson Hole takeaways you may have missed

Fed Chair Jerome Powell laid out his dissenters’ opinions, signaled a near-future rate cut – and took a stand against Trumpian pressure. But it may have been lost in continuing bluster.

U.S. Bank wants a piece of Charlotte, too

The Minneapolis-based super-regional opened its seventh branch this week in North Carolina’s largest city, and wants to double its presence in a market where Truist, BofA and Wells Fargo are heavily entrenched.

Synovus, Pinnacle plan post-merger C-suite

In perhaps a nod to a lesson learned from the Truist combination, the two regional banks laid out the combined company’s management team.

JPMorgan to pay $330M to settle 1MDB claims

Swiss authorities, in a connected case, fined the bank $3.7 million after the lender was found guilty of failing to prevent aggravated money laundering.

Ex-JPMorgan, PNC, TD bankers banned by OCC

The eight former bankers are prohibited from the industry after regulators found instances of misappropriation of funds and customer impersonation.

OCC lifts Anchorage Digital consent order

The only cryptocurrency firm with a national bank charter has invested tens of millions of dollars in compliance infrastructure to remedy issues noted in a 2022 consent order, CEO Nathan McCauley said.

Fed’s Waller pushes deeper ties with ‘innovators’

The Federal Reserve has begun “technical research” on financial technology, including tokenization and AI in payments, the central bank governor said Wednesday.

CFPB seeks comments for new open banking rule

The agency wants to learn about costs, fees and consumer data risks associated with open banking as it seeks to revise a 2024 rule.

Why Morgan Stanley open-sourced its app development tool

A software validation framework helps the bank accelerate compliance and security reviews. It released the tool last week through FINOS.

Fifth Third buys cash management software firm DTS Connex

The deal bolsters the bank's commercial payments business, which processed $17 trillion last year.

Customers CEO talks lessons learned from Fed enforcement action

After investing to strengthen its risk management practices, the Pennsylvania bank now seeks to jump on the favorable atmosphere for digital-asset activities.

Dive Deposits: Ahead of Jackson Hole, the spotlight is everywhere but on Jerome Powell

Mortgage fraud allegations against another Fed governor, Lisa Cook, returned the focus to the Trump team’s push to re-mold the central bank.

Washington’s 1st Security names next CEO

Matthew Mullet, who was named president of the bank in July 2024, will succeed Joseph Adams as CEO in September.

Truist aims to build 100 new branches in a mass-affluent grab

The bank is targeting high-growth markets such as Austin, Miami and Dallas in a push that involves hiring more advisers, refining its AI tools and renovating 300 of its current branches.

Ex-Regions teller banned from banking after alleged theft

Markel O’Neal Calhoun stole nearly $18,000 from the bank last February, the Federal Reserve alleged.

Thread Bank digital chief advocates for unified AI strategy

“We don't want 30 different vendors doing 30 different AI things,” said Marty Miracle, the Tennessee lender’s first chief digital officer.

FDIC would give banks flexibility on digital signage in proposed rule

The proposal focuses display requirements toward screens and webpages most relevant to consumers, simplifying rules for signage on bank websites, mobile apps and ATMs.

FundCanna launches BNPL tool for cannabis businesses

Funding challenges in the cannabis market have created a massive delinquent receivables problem, according to one economist. ReadyPaid, FundCanna’s new B2B BNPL platform, aims to remedy that.

Virginia’s TowneBank to buy NC’s Dogwood in $476.2M deal

The move would add 17 branches – many along the I-85 corridor in the Carolinas. TowneBank is set to close a separate acquisition of Old Point Financial on Sept. 1.

Texas lender embraces independence amid flurry of consolidation

“People like to do business with folks that know the community, know the state, know the region,” and “that’s where banks of our size fit,” said Danny Butler, CEO of San Antonio-based Jefferson Bank.

Truist settles web tracker lawsuit

California resident John Tasker sued the North Carolina lender in May for alleged privacy law violations. He filed a similar lawsuit against BMO that remains active.

N26 co-founder Valentin Stalf to step down

That leaves co-founder Max Tayenthal as the sole CEO for the moment. The executive shift comes amid rumors that a German regulator intends to launch fresh action against the digital bank.

Fed nixes novel activities supervision program

The Federal Reserve’s oversight of banks’ crypto and fintech activities will be folded back into the normal supervisory process, the central bank said Friday.

GOP lawmaker seeks probe into StanChart sanctions case

Rep. Elise Stefanik, R-NY, urged U.S. Attorney General Pam Bondi to launch an investigation into Standard Chartered Bank’s “illicit payments” and related “inaction” from New York’s attorney general.