Robinhood CFO gets salary bump, $18M stock package

The boost to Shiv Verma's salary and target bonus opportunity came as the investing and trading platform also announced a $1.5 billion share buyback program.

FDIC opens door for private equity to buy failed banks

Nonbank entities such as PE firms “can play a significant role in the resolution process, given their ability to access and deploy significant pools of capital,” the agency wrote Thursday.

UBS gets OCC final approval for US charter

The Swiss giant will convert from a state-chartered industrial bank and can now add “everyday banking” capabilities for its wealth clients, executives said.

Warren grills Fed nominee Warsh on Epstein ties

The senator questioned the Fed chair nominee over his interactions with the late convicted sex offender, saying it's “essential that Congress and the public fully understand” the extent of any connection between the two.

Michigan banks Independent, Highpoint to combine in $70.2M deal

Independent’s first acquisition since 2018 will bolster the bank’s footprint in the “high-growth corridor” between Grand Rapids and Lansing, the lender said.

Capital requirements overhaul could give big banks 4.8% windfall

Proposals Thursday from the Federal Reserve, FDIC and OCC, combined with earlier reforms, mean capital requirements for the smallest banks could be reduced by 7.8%.

Ex-CFO of Nebraska lender convicted of bank fraud

In 2021, while he was CFO of Bank of the Valley, Aaron Luneke submitted fraudulent contractor invoices and obtained bank loans totaling $4.3 million, the Justice Department said.

U.S. Bank’s Elavon nabs BofA exec for CEO

The payments processor poached Wally Mlynarski from a bank rival to be its CEO, replacing Jamie Walker.

Fed’s Powell says he’ll stay on as chair pro tempore

The Federal Reserve chair is undecided on continuing to serve as a governor at the central bank but said he won’t leave while a Justice Department probe is still active.

Crypto.com lays off 12% in AI push

“This new foundation sets us up for continued success,” wrote CEO and co-founder Kris Marszalek, who founded the Singapore-based crypto exchange in 2016.

How one credit union empowers employees in the fight against scams

A list of scam warning signs has helped young employees at New Hampshire-based Service Credit Union feel more confident questioning members who might be victims, an executive said.

Banks leave nonprofit lending market untapped, fintech CEO says

B Generous, a nonprofit loan marketplace fintech, launched to connect nonprofits to lenders. In two years, it’s connected nonprofits to $100 million in loans – and banks to long-term customers.

JPMorgan to add 300-plus Boston jobs

The new hires and several hundred others will take up residence in the newly constructed South Station Tower in early 2028. Additionally, eight Chase branches will open in Massachusetts this year.

BMO to add 145 branches in California, Arizona

The bank is betting on an expanded physical presence in “high-growth communities” in the western states, after agreeing last year to sell nearly as many branches to First Citizens.

JPMorgan sued over $328M crypto ‘Ponzi’ scheme

Despite red flags, Chase “turned a blind eye and continued servicing the accounts used to perpetrate the fraud, earning substantial fees from the hundreds of millions of dollars” it touched in a Florida-based crypto scheme.

Banks struggle to scale AI as legacy tech devours IT budgets

With AI initiatives stuck in the pilot phase, more than 80% of executives are failing to see anticipated gains from investments, a Capgemini report found.

MoCaFi files for bankruptcy

The fintech, aimed at serving the unbanked and underbanked, failed to recover following the loss of a major program that had been “central” to its revenue model, its CEO said.

CFPB again told it must request funds from Fed

In the second court ruling rejecting the bureau’s position on requesting Fed funds, a judge in California called agency Acting Director Russ Vought’s plan a “transparent display of partisanship.”

Judge quashes DOJ’s Fed subpoenas

The Trump administration’s investigation into Fed Chair Jerome Powell was led by a desire to pressure him to resign or lower interest rates, not by perceived wrongdoing, a judge wrote.

Regions accelerates plan to build 150 new branches

The bank originally gave itself a seven-year timeline for the strategy, focusing on Florida, Georgia and Tennessee. Now it aims to speed up that plan by two years.

Mastercard to buy BVNK for $1.8B

“Adding on-chain rails to our network will support speed and programmability for virtually every type of transaction,” a Mastercard executive said.

Custodia’s Fed options are limited after court denies rehearing

The Wyoming-based crypto bank can petition the Supreme Court. Or it could reapply to the Fed through a channel that didn’t exist when it sued: the “skinny” master account Kraken recently received.

13 AGs sue OneMain over add-on sales policy

The installment lender pressured subprime borrowers into adding high-interest offerings to their loans without clearly disclosing the costs, the attorneys general said.