BofA hires away Citi’s ex-chief accountant

Johnbull Okpara will join Bank of America in December, replacing Rudolf Bless, its chief accounting officer of nearly 10 years. The bank did not give a reason for Bless’ departure.

Citi tech chief to share data responsibility with COO: memo

Anand Selva will co-lead the data program with Tim Ryan. Japan Mehta, the outgoing data chief, will transition Ashutosh Nawani into the new role of head of enterprise data office and data transformation, the memo said.

EverBank to buy Michigan’s Sterling Bank for $261M

The deal includes 25 branches, $900 million in loans and $2 billion in deposits; but not Sterling’s sole Michigan branch or its $372.9 million portfolio of residential tenant-in-common mortgage loans.

KeyBank CFO eyes opportunities through Scotia deal

The two banks are exploring potential partnership opportunities – and their geographic footprints might allow a jumping-off point, KeyBank CFO Clark Khayat said last week at a conference.

U.S. Bank reaches its proving ground

The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”

BMO’s $564M Ponzi verdict tossed by appeals court

A panel of judges at the 8th U.S. Circuit Court of Appeals threw out a bankruptcy court ruling that the bank aided and abetted the Ponzi scheme of former businessman Tom Petters.

Lawmakers push for crackdown on fintech, ban on false claims

Sens. Elizabeth Warren and Chris Van Hollen demanded tighter regulations on BaaS and fintech partnerships, saying they pose “a broader threat to the stability of our banking system and the economy.”

U.S. Bank rolls out access to Paze digital wallet

The bank began offering the payments option from Early Warning Services to its credit and debit cards customers this week.

OCC hits Wells Fargo with AML enforcement action

The newest order for the bank introduces questions around whether it could affect the lifting of Wells' asset cap, or if other big banks might face AML orders.

A year after reorg, progress at Citi comes in ‘fits and starts’

New penalties gave the bank focal points for its tech overhaul. But Citi is also aiming to keep staff robust enough – in the right places – to chase opportunity, CFO Mark Mason said.

Atlanta Fed chief violated trading rules, OIG finds

Raphael Bostic’s transactions created “an appearance of a conflict of interest,” the central bank watchdog said, making no recommendation for next steps.

JPMorgan Chase to equip 140K workers with genAI tool

The bank expects up to $2 billion in artificial intelligence-related upside, President Daniel Pinto said at this week's Barclays conference.

RBC names interim CFO Gibson as permanent

The move presumably puts more distance between the bank and Gibson’s predecessor, Nadine Ahn, who has sued the bank for wrongful dismissal and damages.

9 crucial reactions to the capital requirements preview

BofA and JPMorgan execs talk death, despair and a lack of specifics, while lawmakers and regulators appear to fall along party lines in the snowballing fight over the Basel endgame.

TD to pay CFPB $28M for giving credit agencies inaccurate data

The penalty is hardly the largest that Canada’s second-largest lender expects. TD is facing criminal and civil investigations into its U.S. anti-money laundering program and anticipates a fine in the billions of dollars before year’s end.

Citi’s chief accounting officer exits

Johnbull Okpara is leaving the bank after nearly four years to pursue another opportunity, according to an SEC filing Tuesday. Robert Walsh was named interim CAO.

Innovation may slow amid bank-fintech partnership scrutiny: analysts

Additional guardrails, however, are necessary as business connections grow more complex and as fintechs tackle more compliance responsibilities, a regulator said.

PNC’s Demchak wants to lean in to open banking for growth

The Pittsburgh-based lender’s CEO is wary of larger rivals building branches in every city but said he won’t pay “silly” M&A prices for a “busted” franchise. 

Bank of America boosts minimum hourly wage to $24

The move puts the Charlotte, North Carolina-based lender presumably one raise away from its long-held goal of lifting its pay floor to $25 per hour by next year.

NBT to merge with in-state lender in $236M deal

The deal, set to close in the second quarter of 2025, will extend NBT’s footprint into western New York by adding 18 Evans Bank branches.

Basel revamp would boost capital requirements by 9%: Fed’s Barr

The central bank’s vice chair for supervision previewed changes that would cut in half the extra capital the nation’s largest banks would be forced to hold.

Huntington wants to open 55 branches in Carolinas over 5 years

The Columbus, Ohio-based bank aims to add 350 employees and expand on a commercial-banking effort it launched in the two states last year.

Morgan Stanley fined $2M over ex-First Republic CEO stock sales

The consent order issued by a Massachusetts regulator Thursday states the lender failed to properly monitor the former executive, who sold over $6.8 million in First Republic stock from February 2022 to March 2023.

Discover’s top lawyer to join Ally

Hope Mehlman will leave Discover on Nov. 29, or once the card company’s acquisition by Capital One is finalized, whichever date is sooner. She's expected to start at Ally on Dec. 2, the bank said.

RBC ‘selectively quoted’ texts to justify CFO’s firing, lawyer says

In a new filing, the bank's ex-CFO, Nadine Ahn, said she received “differential treatment” as a woman and denied knowledge of “Project Ken” or an online “LoveBook” another executive allegedly ordered.