Page 3


  • Cryptocurrency tokens lying next to a gavel
    Image attribution tooltip
    Just_Super via Getty Images
    Image attribution tooltip

    Fourth former FTX executive pleads guilty

    Ryan Salame pleaded guilty to violating campaign finance laws and operating an unlicensed money transfer business. Salame could lose $1.5 billion if he fails to forfeit assets including two properties and a Porsche 911 Turbo.

  • image of Goldman Sachs logo on wall with red background.
    Image attribution tooltip
    Michael M. Santiago/ via Getty Images
    Image attribution tooltip
    Deep Dive

    Goldman’s strategy retreat leaves GreenSky in limbo

    The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.

  • Image attribution tooltip
    Mario Tama via Getty Images
    Image attribution tooltip

    Morgan Stanley to roll out AI bot this month

    The bank has spent months testing its OpenAI-powered chatbot on advisers, who will use it to sift through Morgan Stanley’s research and data, among other things.

  • In an aerial view, cars drive by the San Francisco skyline as they cross the San Francisco-Oakland Bay Bridge
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    San Francisco to set up US’s first municipal bank

    The business and governance proposal got the green light to start lending as a publicly owned financial corporation, which would be converted into the city’s first public bank.

  • Parthenon in Athens with person in front of structure.
    Image attribution tooltip
    Milos Bicanski via Getty Images
    Image attribution tooltip

    JPMorgan Chase revs up payments lab hiring

    The bank is venturing further into fintech and payments for new product development at its lab in Greece.

  • The U.S. Capitol Building as seen on a sunny day in Washington, DC.
    Image attribution tooltip
    Anna Moneymaker via Getty Images
    Image attribution tooltip

    Senate confirms Jefferson, Cook to Fed roles

    Philip Jefferson becomes the second Black man to serve as the central bank's vice chair.

  • fintech graphic
    Image attribution tooltip
    Getty Images/Staff via Getty Images
    Image attribution tooltip

    Growth in fintech sector spurs specialty college programs

    Worcester Polytechnic Institute launched both a fintech undergraduate and graduate degree program last week. The prestigious technology school is far from the first.

  • Finotta's Personified platform
    Image attribution tooltip
    Permission granted by Finotta
    Image attribution tooltip

    Finotta uses gamification to increase banks’ user engagement

    The embedded fintech says its personalized financial guidance platform has helped boost user engagement on banks’ mobile apps.

  • Header image for "Biden Names 3 Nominees to Fed's Board of Governors"
    Image attribution tooltip
    CFO Editorial Staff
    Image attribution tooltip

    Fed issues enforcement order to Kansas bank

    The central bank cited deficiencies in staffing, internal controls, credit risk management, lending and credit administration, capital, IT and third-party risk management.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
    Image attribution tooltip
    Anna Hrushka/Banking Dive
    Image attribution tooltip

    FDIC seeks bids for $33B in Signature CRE loans

    The deadline is set for Nov. 1, according to Bloomberg. About $15 billion of the loans are tied to properties that are rent-stabilized or rent-controlled.

  • Mobile check deposit
    Image attribution tooltip
    RyanJLane via Getty Images
    Image attribution tooltip

    USAA notches latest mobile-deposit victory with Discover deal

    The agreement lets Discover access 130 USAA patents and continue offering remote deposit capture technology. USAA has notched nine-figure court wins against Wells Fargo and PNC over similar patents.

  • Image of bitcoins.
    Image attribution tooltip
    Chris McGrath via Getty Images
    Image attribution tooltip

    Genesis to shutter US crypto spot trading desk

    Trades on the platform must be settled by Sept. 21, and open accounts will be closed Sept. 30, the company said.

  • A golden bull stands on top of a slew of 100 US Dollar banknotes
    Image attribution tooltip
    asbe via Getty Images
    Image attribution tooltip

    Average overdraft fee falls 11% to near-two-decade low: survey

    The average nonsufficient funds fee, meanwhile, plunged 25% over the past year, Bankrate found. But ATM fees reached a record high. 

  • m&a handshake
    Image attribution tooltip
    Natalie Meepian via Getty Images
    Image attribution tooltip

    Alabama, Michigan credit unions buy banks in torrid M&A week

    “It’s just how the timing worked out on these two specific transactions,” said CEO Robert Steensma, whose Five Star Credit Union announced two transactions within three days, as did MSUFCU.

  • Citibank logo
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Citi’s Mark Mason tops list of highest-paid bank CFOs

    Mason, who took in $15 million in 2022, regained the compensation title from Bank of America's Alastair Borthwick, who led in 2021 but slipped to third last year, behind Mason and Wells Fargo’s Mike Santomassimo.

  • JPMorgan's building headquarters as seen on Madison Avenue in New York City.
    Image attribution tooltip
    Michael M. Santiago via Getty Images
    Image attribution tooltip

    JPMorgan processed $1B for Epstein: USVI lawyer

    The lender, which the U.S. Virgin Islands is suing for $190 million, was “a full service bank for Jeffrey Epstein’s sex trafficking,” lawyer Mimi Liu said in a hearing Thursday, according to Reuters.

  • New Ford trucks parked outside at a dealership in Long Beach, California.
    Image attribution tooltip
    Eric Thayer via Getty Images
    Image attribution tooltip

    Upgrade sets sights on auto loans as legacy banks pull back

    The neobank is venturing into a sector many traditional firms have been exiting amid mounting concerns about credit quality.

  • Image attribution tooltip
    Dan Kitwood via Getty Images
    Image attribution tooltip

    StanChart hires BofA, Goldman investment-banking alum as next CFO

    Diego De Giorgi joins the British bank Friday and is expected to succeed longtime CFO Andy Halford in the first quarter of 2024. Halford will stay on as an adviser through August.

  • Header image for "Biden Names 3 Nominees to Fed's Board of Governors"
    Image attribution tooltip
    CFO Editorial Staff
    Image attribution tooltip
    Column

    Goldman, regional bank warnings show the Fed is now playing offense

    The central bank has requested action from Citizens, Fifth Third and M&T regarding capital, liquidity, technology and compliance, according to Bloomberg. Goldman’s fintech partnerships are reportedly under scrutiny, too.

  • People enter and exit UBS Bank in NYC.
    Image attribution tooltip
    Chris Hondros via Getty Images
    Image attribution tooltip

    UBS plans 3,000 job cuts in Credit Suisse integration

    UBS plans to shutter nearly two-thirds of Credit Suisse’s investment bank, including almost all of its trading operations, the bank said Thursday.

  • Large amount of US dollars isolated on a black background.
    Image attribution tooltip
    alfexe via Getty Images
    Image attribution tooltip

    Florida credit union buys local bank in 8th such deal of 2023

    Innovations Financial Credit Union agreed to buy First National Bank Northwest Florida, months after a deal for the bank — also involving a credit union — fell apart.

  • First Republic Bank logo
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    FDIC should have voted on First Republic sale, board member says

    Such a move would ensure no value is left on the table, Jonathan McKernan said. Other board members voiced concerns the process would take too long or be overly complex.

  • A cityscape photographed at dusk, featuring the global headquarters of Goldman Sachs Company in center left, set in contrast to older buildings along New York's financial district.
    Image attribution tooltip
    JayLazarin via Getty Images
    Image attribution tooltip

    Goldman to pay $5.5M CFTC fine over alleged recordkeeping failures

    Software issues caused the bank to fail to record thousands of phone calls, violating recordkeeping rules and a prior cease-and-desist order, the agency said.

  • The Nasdaq MarketSite is seen on October 12, 2022 in New York City.
    Image attribution tooltip
    Michael M. Santiago via Getty Images
    Image attribution tooltip

    UBS, JPMorgan alum Youngwood named next Nasdaq CFO

    She replaces Ann Dennison, effective Dec. 1, at a time when the exchange is looking to close its acquisition of software firm Adenza and broaden its focus beyond equities trading.

  • Aerial view of high rises and water
    Image attribution tooltip
    Gian Lorenzo Ferretti Photography via Getty Images
    Image attribution tooltip
    Column

    Michigan credit union buys Chicago-area bank in August deal surge

    MSUFCU's proposed purchase of McHenry Savings Bank marked the second such transaction in 24 hours and the third this month.